13 Nations Granted BRICS “Partner” Status, Expanding Economic Network

The BRICS grouping (Brazil, Russia, India, China and South Africa) has added 13 more countries as “partners” to its fold. This was announced at the BRICS summit in Kazan. This move is to increase its global influence and reduce dependence on the US dollar in international trade.

Indian Foreign Ministry spokesperson Randhir Jaiswal clarified the difference between “partner” and full member. He said while these countries will participate in BRICS initiatives, they do not have full membership benefits.

The summit hosted by Russia concluded with the Kazan Declaration which outlines the BRICS vision for economic cooperation.

New Partners and the Growing Influence of BRICS

The new BRICS partner countries are Algeria, Belarus, Bolivia, Cuba, Indonesia, Kazakhstan, Malaysia, Nigeria, Thailand, Turkey, Uganda, Uzbekistan and Vietnam. This is in addition to Egypt, Ethiopia, Iran, Saudi Arabia and UAE who were added as full members recently, taking the total to 10 countries as of January 1.

Russian President Vladimir Putin said the partner country list will be formalised after the official invitations are accepted. This expansion means BRICS is looking to strengthen cooperation with emerging economies and potentially redraw the global economic map by building South-South alliances.

A Multilateral Payment System to Reduce Dollar Dependence

At the summit, BRICS leaders agreed to build a payment network that supports local currencies to ease cross border transactions and reduce dependence on the US dollar. This network will be a fast and low cost international payment system for BRICS members and partner countries.

Putin proposed an economic platform to boost investment across the BRICS network and the Global South. This platform will focus on infrastructure and technology projects to support emerging economies as the drivers of future global growth and financial independence.

Conclusion

• New Partners: 13 countries added as “partners” to the BRICS fold.
• New Full Members: Egypt, Ethiopia, Iran, Saudi Arabia and UAE became full members recently.
• Dollar Independence: BRICS to reduce dollar dependence through a multilateral payment system for local currencies.

BRICS expansion means it is re-shaping the global economy, building new alliances and creating a new financial system beyond the dollar.