“Algeria is interested in the Brics, in that they constitute an economic and political power”, Algerian President Abdelmadjid Tebboune said on July 31 during his periodic meeting with the national press, reported by the economic information site Algeria Eco. On the Brics – the emerging power alliance of Brazil, Russia, India, China and South Africa – he felt that “joining this group would put Algeria, a pioneering country of non-alignment, safe from the friction between the two poles”ie the West and Russia.
For the website Digital Tunisia, Algeria comes like this “to set another milestone in its policy of non-alignment, or rather of non-alignment to the dictates of the West”.
Algeria, one of the rare African countries to do business with the Russians and the Western camp, wants to take advantage of the possibilities of financing the economy, in particular through the New Development Bank, created by the BRICS countries as an alternative to the International Monetary Fund (IMF).
Eco-Times praised of this probable membership and recalls that the weight of the Brics is colossal. According to the Algerian site, they represent 40% of the world’s population, 25% of world GDP, 18% of international trade and 50% of economic growth at the world level, all figures that appeal to an Algerian economy in search of new life. Algeria is already counting on 7 billion dollars of non-hydrocarbon exports by the end of the current year.
Great economic potential
The integration of Algiers will however not be for now, note from his side Observ’Algeria. Indeed, this option, qualified as“conceivable” by the Head of State, should only be achieved gradually.
The Brics countries consider that this membership is a new opportunity to expand their political and economic influence. They “see Algeria as a country with great economic potential, enjoying a strategic location, but which lacks expertise and skills to manage projects”, said Foued Alouane, Algerian economic expert, to the site of the Emirati channel Sky News Arabia.