Algeria is betting on joining the BRICS (Brazil, Russia, India, China, South Africa) to strengthen its economic and political ties with other influential nations. Through its active participation in the summit to be held in a few days, it aspires to diversify its economy while demonstrating its ability to play an active role on the world stage.
Algeria’s strategy to “validate” its membership is essentially based on highlighting its economic potential. To do this, the government has decided to encourage national companies to take part in the group’s next summit, held in Johannesburg. The opportunity, according to experts, to demonstrate Algeria’s industrial capacities outside of hydrocarbons.
Algerian companies encouraged to participate in the next BRICS summit
Algeria has recently intensified its efforts to join the group of BRICS (Brazil, Russia, India, China and South Africa), showing a clear desire to diversify its economy and strengthen its international relations.
This Saturday, the Minister of Foreign Affairs, Ahmed Attaf, welcomed the Russian and Chinese ambassadors as well as the representatives of the three other countries within the delegation. The objective was to highlight the Algerian candidacy to join this influential group.
On the sidelines of this meeting, Algeria has undertaken as a strategy to promote its industrial and economic potential to demonstrate a certain “stability”, necessary for its membership in the group.
Wanting to promote the “Made in Algeria” internationally and highlight the achievements of Algerian industry, the government invites its entrepreneurs to actively participate in the Johannesburg summit.
The Minister of Trade and Export Promotion, Tayeb Zitouni, sent a letter to Algerian business leaders operating in various sectors (agro-food, technology, mining, financial services and energy), urging them to seize this networking opportunity and visibility.
Algeria’s accession to the BRICS: a bet not won
Algeria’s participation in the next BRICS summit is of strategic importance. It seeks to demonstrate that its economy is diversifying, beyond its historical dependence on hydrocarbons.
In recent years, non-oil exports have experienced remarkable growth and are on track to exceed the $10 billion mark in 2023. This figure reflects a significant increase and testifies to Algeria’s efforts to stimulate other sectors of its economy.
So far, only Russia and China have publicly supported the Algerian initiative. The positions of the other three BRICS members remain up in the air on the expansion of the group. However, the outcome of this crucial issue could be determined at the next BRICS summit, scheduled in South Africa from August 19-23.
