IBOV 185,205.09 ▲ 3.05% IPSA 11,315.26 ▼ 1.14% IPC MEX 64,884.28 ▲ 0.57% MERVAL 3,106,216 ▲ 1.86% COLCAP 2,489.31 ▲ 0.77% BVL PERÚ 59,515.48 ▲ 0.34% USD/BRL5.09▼ 0.05% USD/MXN17.02▲ 0.28% USD/CLP937.36▼ 0.02% USD/COP3,149▼ 0.65% USD/PEN3.36▼ 0.20% USD/ARS1,511▼ 0.02% USD/UYU40.24▲ 1.21% USD/PYG5,885▲ 1.38% USD/BOB12.20▲ 4.46% USD/DOP58.45▼ 0.17% USD/CRC445.58▲ 1.89% USD/GTQ7.63▲ 2.07% USD/HNL26.83▲ 1.45% USD/NIO36.62▲ 0.71% USD/VES802.80▲ 0.33% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD 157.28 — 0.00% USD/TTD6.66▲ 0.93% EUR/BRL5.90▼ 1.05% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73% IBOV 185,205.09 ▲ 3.05% IPSA 11,315.26 ▼ 1.14% IPC MEX 64,884.28 ▲ 0.57% MERVAL 3,106,216 ▲ 1.86% COLCAP 2,489.31 ▲ 0.77% BVL PERÚ 59,515.48 ▲ 0.34% USD/BRL 5.16 ▲ 0.01% USD/MXN 17.06 ▼ 0.24% USD/CLP 913.98 ▲ 0.04% USD/COP 3,140 ▲ 0.03% USD/PEN 3.36 ▼ 0.66% USD/ARS 1,493 ▲ 0.10% USD/UYU 40.27 ▲ 1.24% USD/PYG 5,939 ▲ 1.68% USD/BOB 11.64 ▼ 0.76% USD/DOP 58.34 ▲ 1.25% USD/CRC 445.92 ▲ 0.89% USD/GTQ 7.62 ▲ 2.21% USD/HNL 26.79 ▲ 1.57% USD/NIO 36.62 ▲ 0.69% USD/VES 762.44 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.28 — 0.00% USD/TTD 6.70 ▲ 0.61% EUR/BRL 5.95 ▲ 1.01% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73%
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Middle East Africa

Opinion: the growing influence of Arab nations within BRICS

By · August 24, 2023 · 2 min read

Africa Intelligence

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(Opinion) The recent invitations extended to Egypt, Saudi Arabia, and the United Arab Emirates (UAE) to join the BRICS coalition marks a significant stride in global politics and economics.

Ahmed Abulgueit, the Secretary-General of the Arab League, promptly took to social media to laud this development, signifying the growing stature of the Arab world on the global stage.

The inclusion of these Arab nations into BRICS, a group of emerging economies, is not merely a testament to their rising prominence but also heralds a plethora of advantages for both BRICS and the Arab world.

At the forefront of these benefits is economic diversification.

Arab World states political map. (Photo Internet reproduction)
Arab World states political map. (Photo Internet reproduction)
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Arab nations, already pivoting their economies away from oil, can find in BRICS an opportunity for partnerships in technology, renewable energy, and infrastructure, thereby enhancing the bloc’s investment capacities.

From a geopolitical standpoint, the strategic position of the Arab countries serves as a nexus between the East and West.

This makes them instrumental in facilitating smoother trade channels, boosting BRICS’ stature as a formidable geopolitical player.

Beyond economics and politics, the inclusion promises cultural enrichment.

The vibrant and diverse cultures of the Arab world can infuse the BRICS alliance with renewed vitality.

As these nations engage in joint educational and cultural ventures, they pave the way for mutual appreciation and reinforced diplomatic relations.

Moreover, the historical and strengthening bonds that Arab countries share with Eastern powerhouses like China and Russia allow BRICS to counterbalance the prevailing Western dominance, ushering in a more globally equitable influence.

Lastly, the collective bargaining power of BRICS is set to amplify with the Arab world’s established clout in global economic and political arenas, enabling the bloc to navigate international forums and debates assertively.

Announced by the South African President at the 15th Heads of State and Government Summit in Johannesburg, this inclusion has been met with varied reactions.

Enthusiasm from the UAE and Egypt and a more measured response from Saudi Arabia, which awaits further membership specifics.

This integration, marked by the visionary pursuits of nations like the UAE and Saudi Arabia, promises a future of fruitful cooperation, economic dynamism, and strengthened ties among member countries.

This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error

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