Argentina still seeks to join BRICS and will not follow EU advice
In a recent development, Argentina has indicated its ongoing interest in joining the BRICS group, a coalition of five major emerging national economies: Brazil, Russia, India, China, and South Africa.
This decision comes despite suggestions from the European Union (EU) for Argentina to refrain from joining BRICS due to the ongoing conflict in Ukraine.
Given its substantial trade relationships with member countries, Argentina’s interest in BRICS is primarily economic.
Argentina is closely tied to Brazil, its major trading partner in South America, and China, one of its key global trading partners.
It also has significant trade with Russia.
Some experts suggest that Argentina could leverage the BRICS framework for trade using national currencies, providing a solution to its current economic crisis and difficulty in acquiring U.S. dollars.
However, the decision for Argentina to join the BRICS depends largely on the agreement of current BRICS members, who have yet to define clear criteria for new member admission. Whether the group decides to expand is also up for consideration.
The EU’s unsuccessful attempt to impose a statement condemning Russia during the recent EU-CELAC summit in Brussels demonstrates a divergence in perspectives regarding the Ukrainian conflict.
Notably, Nicaragua declined to sign the conventionally neutral document.
The upcoming BRICS summit is scheduled for August 22-24 in Johannesburg.
More: Argentina news in English, every day from The Rio Times.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief