No longer interested in BRICS, what is Algeria's reason?

In late September, El Moudjahid newspaper reported that Algeria officially abandoned its bid to join the BRICS group of leading emerging economies, although it maintained its membership in the New Development Bank (NDB).

Algeria has truly turned a new page on the issue of BRICS membership. (Source: Reuters)

El Moudjahid said that Algeria is no longer pursuing membership of the group as officials declared that “the BRICS membership file is closed for the Algerian authorities”.

Algerian President Abdelmadjid Tebboune previously confirmed that the country is no longer seeking BRICS membership.

The reason the government is no longer keen on the idea of ​​joining the group is because it feels that BRICS should adopt a more inclusive approach, El Moudjahid wrote.

Nevertheless, Algeria remains committed to its role in global economic frameworks and multilateral cooperation.

“Algeria is really turning a new page on the issue of BRICS membership, while continuing to support multipolarity in international relations through other platforms such as the United Nations Security Council,” El Moudjahid commented.

The article highlighted the North African country's strong economic position, noting that it has no foreign debt, possesses the largest land area in Africa and is rich in mineral and energy resources, along with an infrastructure that is admired across the continent.

Notably, in early September, Algeria was admitted to the New Development Bank (NDB), thereby strengthening economic ties with the group.

As a multilateral development bank, the NDB was established by BRICS in 2015.

Source: https://baoquocte.vn/khong-con-man-ma-voi-brics-ly-do-cua-algeria-la-gi-288718.html