Egypt Likely To Join BRICS By Year-End – Official
Egypt will join the BRICS group by the end of the current year, said the country’s minister of industry and trade on Monday.
In a statement to Amwal Al Ghad, the Egyptian Minister of Industry and Foreign Trade Eng. Hatem Saleh unveiled that the country is in contact with the BRICS countries (Brazil, Russia, India, China and South Africa) expressing desire to join the group, as a move to boost his country’s economy.
Eng. Saleh has stressed national economy’s potentials to join the BRICS group.
Earlier this month, Egyptian President Mohammed Morsi expressed desire to join the BRICS group, as a move to boost his country’s economy and establish partnership with Brazil.
On the fringes of his visit to Brazil, Morsi met with members of the Arab community in Brazil, late Thursday. He said the existence of such a community acts as a “cultural bridge” which he considers “valuable” to Arab and Islamic countries.
Morsi noted that Egypt after the revolution is more perceptible to change. Egypt seeks “social justice, stability and development.” Morsi have been on tour to the BRICS countries (Brazil, Russia, India, China and South Africa). The “Big Four”, as it is also known, is a global economic group which has similar stage of newly advanced economic development.
BRICS’s strengths and challenges
During the past few years, the BRICS group has made an important niche for itself within the international community. The BRICS countries are the fastest growing in the world and the least affected by the financial crisis.
The BRICS group differs from other international coalitions by not having political, economic or cultural links. Its members come from four continents and their level of development varies. The reason why BRICS was created was to reject Western dominance over the global economy and politics. They hold similar positions on Syria, Iran, Afghanistan and the Middle East.
What distinguishes BRICS from other coalitions is also its challenge. It is true that they have some common positions, but they wildly disagree on the priorities. Observers note how China is flooding the Brazilian market with inexpensive shoes, and South Africa with clothes. They also note how India has put tariffs on some Chinese products, and the disagreement between Moscow and Beijing on Russian oil prices, and other differences.
