Algeria’s application to join the BRICS has been rejected.Algeria’s candidacy for future integration into the BRICS group was rejected, despite the presence of Russia and South Africa, which Algiers considers great allies.
On the other hand, the membership of Saudi Arabia, the United Arab Emirates (UAE), Indonesia, Egypt and Argentina, which appeared on the same list of candidates, was confirmed.
As reasons justifying the rejection of the Algerian candidacy, the GDP of this Maghreb country, estimated at 3,500 dollars per inhabitant, was deemed too low by India and Brazil, two other founding members of the BRICS alongside China, the Russia and South Africa. Furthermore, this indicator is only indexed to hydrocarbon revenues. For comparison, Argentina’s GDP is over $10,000.
In addition, Algeria has been criticized for its weak industrialization and lack of vision to improve this deficiency. Similarly, the absence of economic diversification and clear government projects aimed at stimulating the industrial fabric, did not play in favor of the Algerian candidacy.
BRICS members also criticize Algeria for the weakness of its exports and job creation, the lack of emergence on the international financial scene and the shortcomings of the banking system.
Saudi Arabia, the Arab Emirates, Indonesia, Egypt and Argentina are all on the list of the next countries to be confirmed.
