As the BRICS bloc has seen its relevance grow in recent months, a new country is seeking to join the alliance and potentially become a de-dollarization planThey join a growing list of countries that want to be part of a further expanded collective.
The BRICS 2023 summit saw the alliance grow for the first time in more than two decades, welcoming four countries. These countries included the United Arab Emirates (UAE), Egypt, Iran and Ethiopia. While the group has seen discrepancies in further growth, there is no denying the interest from countries around the world.
Also read: BRICS: US recession chance rises to 40%, new indicator says
New country emerges with BRICS ambitions
The BRICS bloc has grown enormously in the past two years. It has become a haven for countries seeking change in the global economy. Its dependence on the West has created remarkable divisions. For the economic collective, multipolarity is the only way forward.
This has attracted considerable interest from countries. Now the BRICS bloc has seen a new country emerge, wanting to join the alliance and likely adopting a dedollarization plan. Serbia even recently met with Russian officials to discuss the possibility of joining.
A new report says that Serbian Deputy Prime Minister Aleksander Vulin met with Russian Foreign Minister Sergei Lavrov. The two discussed BRICS cooperation from Belgrade. Moreover, it relied on the centuries-old partnership of both sides as a basis for Serbia's inclusion.
Also read: BRICS: Another country announces it will ditch US dollar for oil trading
The two leaders, “discussed models and mechanisms for establishing cooperation between Serbia and BRICS,” the report said. Moreover, the country stated that it is “grateful” for the continued cooperation. Greater participation will likely lead to the country ditching the US dollar in a significant way.
That’s been an initiative the bloc has embraced for a long time. Lately, it’s turned its attention to crypto. Russia has passed legislation legalizing the currency for trade settlements. And thus increasing the potential trading partners.
Serbia joins a growing list of countries interested in joining the collective. Countries such as Nigeria, Malaysia and Thailand have all sought inclusion. The geopolitical world now has its eyes set on October. The 2024 BRICS summit could be a huge summit for the bloc’s continued growth.