November 9th, 2022
Via Eurasia Review, a report on Algeria’s interest in joining the BRICS:
Algeria is making a bid to join BRICS, the conglomerate of emerging economies of Brazil, Russia, India, China and South Africa.
The country which is the 11th biggest holder of gas reserves globally, has already made a formal application to join the group with the Algerian Foreign Ministry official Leyla Zarruki stating the North African country has requested membership of the economic bloc, according to Anadolu.
The social media has been rife with the news as joining the bloc would mean more political and economic polarization in the international system.
Algeria wanted to join BRICS back in July as stated by President Abdelmadjid Tebboune. “Joining this group will take Algeria, the pioneer of the non-alignment principle, away from the attraction of the two poles,” he said according to the Turkish news agency.
The five members of BRICS have 40 percent of the world population and at least a quarter of the international GDP. This will likely increase if countries like Saudi Arabia, Iran and Turkey are allowed to join. That would split the global system and add a new meaning to globalization.
Focusing primarily on The New Seven Sisters - the largely state owned petroleum companies from the emerging world that have become key players in the oil & gas industry as identified by Carola Hoyos, Chief Energy Correspondent for The Financial Times - but spanning other nascent opportunities around the globe that may hold potential in the years ahead, Wildcats & Black Sheep is a place for the adventurous to contemplate & evaluate the emerging markets of tomorrow.