Egypt has been an official member of the BRICS since January 1, 2024.

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Thursday - 4 January 2024 - 2:3 PM




Egypt's BRICS membership was officially activated at the beginning of January 2024, with a large number of productive sectors waiting.



They are seeking to reduce dollar demand and provide manufacturing needs and production inputs from the BRICS member states with facilities that contribute to alleviating the dominance of the US dollar.



Egypt's entry into the BRICS also contributes to facilitating trade exchange in the local currency with some BRICS members, especially Russia and China.



In August 2023, the actual steps and procedures were taken to make Cairo a member of the strongest economic alliance after the G20.



The BRICS group aims at alleviating the dominance of the US dollar over the movement of trade and creating an alternative world order.



Over 40 countries have expressed interest in joining the BRICS group recently, amid great regional optimism about reaching economic mechanisms that contribute to reducing the dominance of the dollar, in light of the continuing rise in the cost of borrowing the American currency.