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Expert reviewer on BRICS expansion prospects

BRICS Summit in 2021. Photo: THX

According to Izvestia newspaper (Russia) on May 23, China has expanded the proposal of the Group of Top Emerging Economies (BRICS – including Brazil, Russia, India, China and South Africa). Beijing doesn’t know exactly which country will become a new member of the group, but there is now a functional candidate: Argentina.

This is started source from the leader of China Xi Jinping, who is the rotating Chairman of BRICS, sent a personal invitation to Argentina to attend the meeting of the BRICS leaders (taking place on May 19). and attend the block summit on June 24.

In Buenos Aires, Argentina immediately began talking about the country’s imminent accession to the BRICS. Argentina’s Ambassador to China Sabino Vaca Narvaya last week gave the invitation a step towards Argentina’s “official accession” to the BRICS. The Argentine diplomat also reiterated that this year Buenos Aires and Beijing celebrate the 50th anniversary of the establishment of diplomatic relations. In addition, the Argentine Government currently holds the rotating presidency of the Community of Latin American and Caribbean States, which helps Buenos Aires increase its role in the international arena. So logically, there is no better point for Argentina to join the BRICS.

In addition, in early 2022, Argentine President Alberto Fernandez visited Russia and China, showing his support for both countries, despite all concerns of the Argentine opposition that this This would jeopardize the system between Buenos Aires and Washington.

“I support getting rid of dependence on the IMF and the US and we should open up new opportunities, including cooperation with Russia,” Fernandez said in early February 2022, while in Moscow. The Argentine leader also signed an agreement on China’s participation in the Belt and Road, referring to Argentina’s long-standing desire to join the BRICS.

In many ways, Argentina’s desire to become a member of the BRICS is partly because you want to find alternative key resources to the IMF, in the face of Argentina’s debt of more than $44 billion. Argentina wants access to funds from the New Development Bank, one of the main institutions of the BRICS. Politically, Argentina will also benefit from this, as the bloc’s membership will help balance out Brazil – another country emerging as the leader in South America.

Although China does not openly support Argentina’s accession to the BRICS, positive signals from Beijing have emerged. “China proposes to initiate the BRICS expansion process, review the standards and procedures of the expansion process, and gradually form a facilitation,” Chinese Foreign Minister Wang Yi said during the meeting. online with fellow BRICS on May 19.

In addition to China, Brazil also has a positive view on incorporating Argentina into the BRICS. In April, the country’s Minister of Economy, Mr. Paulo Guedes said that Brazil will create favorable conditions for Argentina to join the New Development Bank. A group advisor to the Brazilian President Lula da Silva, who will re-enter the aggregate system in October 2022, also voiced support for Buenos Aires’ membership.

In 2014, India also made a number of statements in support of Argentina’s accession to the BRICS. That same year, Russia extended an invitation to Argentina to the BRICS summit in Brazil. Since then, the bloc has long discussed the need for expansion with new members, calling such formats BRICS+ or expanded BRICS. Existing member countries also actively invite the leaders of another developing country to attend the BRICS summit. But private way to the full of the following water is not used to be used to.

“At the moment, there are no questions about loading Argentina and no process is underway,” a source from Russia in charge of affairs in the BRICS told Izvestia.

Victoria Panova, Executive Director of the BRICS Research Unit, also said that there are no prerequisites for a true BRICS expansion.

“China has really progressed to establish the Friends of BRICS Club for a few years. But I still have doubts about the problem of expansion. It is important for BRICS to promote tools to solve and achieve is the problem. results, and this thing is more important than expansion.

According to Sanushi Naidoo, an expert on political internationalization at the Institute for Global Dialogue in Cape Town, South Africa, in general, South Africa has not responded to the expanded BRICS, but there are problems.

“From an economic point of view, this will provide South Africa with the opportunity to strengthen trade and other logistics supply chains, as well as access to the region’s transport of goods and services, in a way that is not to overcome restrictions in maritime trade by implementing sanctions. Of course, this is also an important consideration for other BRICS countries,” said Naidoo expert.

According to Sanushi Naidoo, from the view of the main value, the Argentina is going to make up the image about the main event and the BRICS economy, but with South Africa, this can be going to an edge picture to the value position in BRICS. Similarly, Brazil is also watching the consequences if Argentina becomes a member of the BRICS.

For his part, Niall Duggan, an expert at the Faculty of Politics and Public Administration at Cork University (Ireland), commented: “The idea of ​​China increasing the number of BRICS members is to reduce the overall influence of the members. From March this year, China tends to move away from some BRICS partners and ‘fill in’ with others.Argentina is a great fit for this role. do they are many women in China, special about the trade trade, security and politics, so Argentina will be a reliable partner for Beijing in the bloc, which can do for other members of BRICS does not want Argentina to join”.



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