The BRICS alliance is witnessing a surge in interest from developing countries as two new nations, the Republic of Congo and Thailand, have formally applied to join the bloc ahead of the 2025 summit. This development comes amidst escalating global efforts to challenge the US dollar’s dominance in international trade.
Thailand Seeks Russia’s Support for BRICS Membership
Thailand is actively pursuing its bid to become a full-fledged member of BRICS, seeking support from Russia to bolster its application. Russian Foreign Minister Sergey Lavrov and his Thai counterpart Maris Sangiampongsa met on April 28 to discuss the potential membership and broader economic collaboration. Discussions included the launch of negotiations for a free trade agreement between Thailand and the Eurasian Economic Union (EAEU) and potential cooperation in nuclear medicine and cultural exchanges.
Also Read: BRICS Expansion: 4 New Nations Set to Reshape Global Trade in 2025
47 Countries Eye BRICS Membership as De-Dollarization Gains Momentum
The Republic of Congo and Thailand are not alone in their interest. A staggering 47 countries have now expressed interest in joining BRICS, signaling a growing shift among emerging economies to explore alternatives to the US dollar. The alliance, initially comprising Brazil, Russia, India, China, and South Africa, is positioning itself as a formidable economic bloc that could potentially reshape global financial power dynamics.
As the 2025 summit approaches, the question remains: Will BRICS succeed in accelerating the de-dollarization process and alter the financial landscape for years to come?
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
