Seven Gains For Algerians After Joining The “BRICS”

Economists count 7 gains that Algeria can benefit from directly, once it completes its accession talks with the “BRICS” group, and this is after an official request was made to the bloc countries, with Russia and China announcing their agreement.
It is related to strengthening the economic partnership, signing new projects in the sectors of agriculture, mining and underground resources, transferring experience and technology, creating differential agreements and benefiting from new funds, drawing on the experiences of these countries in development, while making a rapid industrial transition, and shoring up the principle of non-alignment pursued by Algeria in the international data continued to change after the Russian-Ukrainian war.
The economic expert, Abderahmane Hadef, confirms in a statement to “Echorouk” that the next step for the BRICS member countries’ approval of Algeria’s request will be the official accession, which will not take much time, especially since the “BRICS” is an economic bloc that does not take the character of an official organization.
Therefore, the accession process does not require long-term bilateral dialogues and negotiations, meetings and certain conditions or criteria that must be adhered to, such as those related to accession to the World Trade Organization, for example, as the country wishing to join is satisfied with proposing it to the response of the member parties, and today Algeria has received the approval of both China and Russia.
The expert enumerates 7 benefits for Algeria’s accession to the “BRICS” group, including achieving economic integration with the member states of this group, as this membership will serve the purely economic interests of our country, and this accession will qualify Algeria to sign new economic projects, according to the specifics of these countries, developing infrastructure, and facilitating the completion of major projects, as it is related to the exploitation of mining wealth with China, for example, with which a strategic cooperation agreement was signed yesterday according to the second five-year plan.
In addition, the BRICS countries signed in 2014 the establishment of the New Development Bank, which is responsible for financing major investments, as the formula in which this bank operates competes with the International Monetary Fund. “By lending in return for certain benefits, which are the financial mechanisms that Algeria will be able to benefit from if it joins the group, and this option may qualify it to sign differential agreements related to lifting customs restrictions and non-tariff obstacles, as well as benefiting from the experiences of these leading countries in certain sectors such as industry, agriculture and mining and exploitation of underground resources.
Hadef says that within 20 years, these countries were able to transform into developing countries, where their per capita raw income exceeds $15,000, compared to an average of $4,000, which will enable Algeria, as a new member of the group, to copy the same experience, in the field of trade and growth, with the establishment of a new development model based on technological development, with an actual transfer of expertise and technology, and not just ink on paper, and the signing of new investment projects.
This step will also allow Algeria to enter a phase of rebalancing in light of the new global financial system, reduce dependency on a specific party and ensure balance in its economic and trade relations, which are based on an agreement with the European Union on the one hand and another with Arab countries and bilateral agreements with brotherly and friendly countries, participating in the BRICS bloc.
In the same context, the economic expert, Slimane Nasser, said in a statement to “Echorouk” that Algeria’s efforts to join the BRICS group, and the member states’ acceptance of this request, and their welcoming of this step, is based on the fact that Algeria represents for them the gateway to the African continent, and occupies a strategic area, as it plays an important and main role in the Mediterranean and the Arab world, and therefore its economic integration with them will open the doors of the brown continent for them, especially in light of the African Free Zone, which will soon open its markets to member states.
Our interlocutor believes that the new global context in light of the conflict of interests, after the Russian-Ukrainian war, makes the BRICS member states welcome and optimistic about Algeria’s accession, as it is not only Algeria that is looking for this membership.