Morocco denies reports of joining BRICS, says it never applied for membership

Morocco has denied reports that claimed it will join the BRICS grouping ahead of the upcoming summit of the emerging economies led by Brazil, Russia, India, China and South Africa at the summit in Johannesburg next week.

Morocco's foreign ministry said thatwhile Rabat indeed maintains substantial and promising bilateral relations with the other four members of the group, and is even linked to three of them by Strategic Partnership Agreements, it has "never formally applied for membership of the BRICS group".

Saudi Arabia, Indonesia, and Egypt remain the distinguished few who have been vying for a spot in the economic alliance.

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Upcoming summit

The upcoming summit in South Africa will bring together around 60 heads of state and will set expansionary standards for possible new BRICS members.

Talking to Bloomberg, South Africa’s BRICS Ambassador, Anil Sooklal clarified that the upcoming summit's focus will be on promoting local currencies within the bloc.

"Trading in local currencies is clearly on the agenda, he said, adding, "There is no de-dollarisation item on the BRICS agenda."

"The dollar will remain a prominent global currency,that is a given," said Sooklal.

He said that contrary to some narratives making the rounds,the bloc is not a counter to the West or the G7. Instead, he said the alliance aims to "advance the agenda of the Global South and build a more inclusive, representative, just, and fair global architecture."

Other applicants

According toSouth Africa's top diplomat in charge of relations with the bloc, more than 40 countries have expressed interest in joining theBRICSgroup of nations. Nationsthat expressed interest include Algeria, Argentina, Iran, Saudi Arabia, the United Arab Emirates, Cuba, the Democratic Republic of Congo, Comoros, Gabon, and Kazakhstan.

Previously, in July, Algeria applied for a spot in the bloc and also submitted a request to become a shareholder member of the BRICS Bank. The North African nation, as per a Reuters report, seeks to join the economic alliance to open up new economic opportunities.

‮"‬We officially applied to join the BRICS group, we sent a letter asking to be shareholder members in the bank ... Algeria's first contribution in the bank will be $1.5 billion," said Algerian President Abdelmadjid Tebboune, as quoted by Ennahar TV.

Reuters reports that the nation which is rich in oil and gas reserves is seeking to diversify its economy and also strengthen its partnership with countries like China.

BRICS, which comprises Brazil, Russia, India, China, and South Africa, accounts for more than 40 per cent of the world's population and about 26 per cent of the global economy.

(With inputs from agencies)

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