Dozens of nations have expressed curiosity in becoming a member of BRICS, a gaggle encompassing Brazil, Russia, India, China and South Africa that views itself as a counterweight to the West, and is meeting this week in Johannesburg.

Argentina, Egypt, Indonesia and Saudi Arabia are regarded as amongst these probably to be admitted. Iran has additionally expressed curiosity.

China’s chief, Xi Jinping, backs increasing the group. But Prime Minister Narendra Modi of India is claimed to be involved about including nations near Beijing; India and China have border disputes and have a tendency to think about one another potential adversaries.

Here is a take a look at a number of the nations vying to hitch.

Saudi Arabia

The addition to BRICS of Saudi Arabia, one of many world’s main oil producers, would add financial clout to the group and bolster its probabilities of positioning itself as a rival to the U.S.-led monetary order.

BRICS membership seems like an more and more pure match for Saudi Arabia, which has cultivated ties with China and — regardless of its longstanding and tight safety relationship with the United States — has pointedly demonstrated independence from American pursuits lately.

Last 12 months, Saudi Arabia lower oil manufacturing simply when the Biden administration thought it had secured a rise. In February, it restored diplomatic ties with Iran — signing the deal in Beijing. And regardless of American strain to assist Ukraine within the conflict with Russia, the dominion, like different Arab nations, has remained steadfastly impartial.

For Saudi Arabia, it could appear to be good geopolitics to domesticate relationships with main companions who, in contrast to the United States, don’t cavil over human rights. But it is also good enterprise. The nation of greater than 32 million individuals, lots of them younger, is searching for to diversify an nearly fully oil-dependent economic system.

Saudi Arabia is the BRICS membership’s greatest buying and selling companion within the Middle East, with commerce reaching $160 billion in 2022, the overseas minister, Prince Faisal bin Farhan, stated in June.

Argentina

With almost 46 million individuals, Argentina has the third-largest economic system in Latin America, after Brazil and Mexico. Its backers in BRICS embody India; Brazil, its largest buying and selling companion; and China, with which it has more and more shut monetary ties.

Argentina has a historical past of financial crises and is within the midst of one among its worst. Its foreign money has plummeted; inflation has hovered round 113 p.c for the previous 12 months; and almost 40 p.c of the inhabitants is impoverished. The nation can also be struggling to repay a $44 billion debt to the Western-dominated International Monetary Fund.

President Luiz Inácio Lula da Silva of Brazil stated on Tuesday that he supported Argentina’s bid, mentioning the nation’s struggles with an absence of overseas reserves.

Argentina’s president, Alberto Fernández, was invited to a digital assembly of BRICS nations final 12 months.

“The BRICS are, for my country, an excellent alternative for cooperation in the face of a world order that has been working for the benefit of a few,” he wrote to the group in May 2022.

He known as the New Development Bank, which was created by BRICS and which Argentina desires to be part of, “the institutionalization of a new world order focused on development, and away from the financial speculation that has caused so much damage to our countries.”

Iran

Iran, which holds the world’s second-largest gasoline reserves and 1 / 4 of the oil reserves within the Middle East, utilized to hitch BRICS in June as a part of its efforts to strengthen financial and political ties with non-Western powers.

“Iran’s cooperation with BRICS has mutual benefits,” the overseas ministry spokesman, Nasser Kanaani, stated on Monday.

But the nation has stayed afloat by promoting discounted oil to China, amongst different maneuvers. It has additionally diversified its economic system away from oil and elevated commerce with BRICS members, with a 14 p.c improve in non-oil commerce within the 2022-23 fiscal 12 months valued at $38.43 billion, in accordance with Iranian news reviews that cited customs information.

Politically, Iran would worth BRICS membership as a sign that the West’s makes an attempt to isolate it have failed, cementing its position as a regional energy and member of a membership that sees itself as an alternative choice to the Western-dominated order.

Iran’s president, Ebrahim Raisi, will journey to the BRICS summit on Wednesday after receiving an invite to attend, Iranian state media reported.

Indonesia

Both China and India have lengthy pushed for Indonesia to hitch BRICS. The Southeast Asian nation is the world’s fourth most populous, with round 280 million individuals, and already belongs to the Group of 20.

Indonesia’s deputy commerce minister, Jerry Sambuaga, informed reporters final week that becoming a member of BRICS may carry commerce alternatives in South America and Africa.

“The interest is there, the potential is clear, and the opportunity is up for grabs,” he stated.

Indonesia’s president, Joko Widodo, has lengthy advocated a world order that features growing nations. In 2022, Indonesian exports to BRICS states amounted to $93.2 billion.

Access to the BRICS financial institution may assist Mr. Joko’s formidable infrastructure plans, which embody a brand new capital in Borneo.

But he’s prone to be cautious about showing to take sides.

Though Indonesia’s financial ties with China far surpass these with the United States, the nation describes its overseas coverage as “free and active” and depends on Western financial cooperation and army provides.

Egypt

Egypt is without doubt one of the high recipients of American assist, however it has lengthy maintained a powerful relationship with Russia and has rising commerce ties with China.

Its curiosity in weaning itself off American dependence strengthened over the past 12 months and a half, as Egypt has discovered simply how troublesome counting on the greenback could be. Russia’s invasion of Ukraine touched off a overseas foreign money disaster after which an financial tailspin. Investors pulled billions of {dollars} out of Egypt in a panic, and essential wheat and gas imports, purchased with {dollars}, soared in value. Some imports turned scarce and costs rose.

The greenback scarcity additionally made it tougher for the nation to repay its money owed and compelled it to devalue its foreign money steeply, worsening the ache for strange Egyptians.

Inside BRICS, Egypt may commerce in native foreign money, which it’s already making an attempt by way of bilateral offers. It additionally hopes to draw extra funding from member nations, which may in flip carry more cash from the United States because it seeks to retain its affect.

Playing either side has tended to profit Egypt. Russia is constructing Egypt’s first nuclear energy plant and China is constructing a part of its new capital. Fear of shedding affect has made Western governments reluctant to chop ties over rights abuses or different points.

“Egypt has good relations with the United States and the West, as well as good relations with the East,” President Abdel Fattah el-Sisi stated Sunday. “If the current balance continues, we will be able to join the BRICS economic bloc.”

With Africa’s second-largest economic system, Egypt stands a powerful probability of being admitted. It has already joined the BRICS financial institution and has robust or rising commerce or political relationships with members.

Paulo Motoryn contributed reporting from Brasília.