Azerbaijan Applies to Join BRICS Alliance

Azerbaijan has officially applied to join the BRICS economic bloc, as confirmed by an announcement following a meeting between President Ilham Aliyev and Russian President Vladimir Putin. The BRICS alliance, which includes Brazil, Russia, India, China, and South Africa, is experiencing heightened interest from developing countries eager to join, largely motivated by a desire to reduce dependency on the US dollar and promote local currencies. Currently, 47 countries have expressed interest in joining, with 26 having submitted formal applications ahead of the 2024 summit scheduled for October in Kazan, Russia. Azerbaijan's Ambassador to Moscow, Polad Bulbuloglu, noted ongoing discussions with Russian officials regarding its accession. The upcoming summit aims to address key topics including de-dollarization and strengthening regional currencies. The growing appeal of BRICS reflects a shared ambition among developing nations to create a more equitable global economic landscape.