20 new countries are set to apply to join the BRICS economic alliance of nations as it prepares to hold a BRICS Summit in August, with numbers reportedly continuing to increase.

Among all the nations, Algeria 🇩🇿📍Argentina 🇦🇷 📍 Bahrain 🇧🇭 📍Egypt 🇪🇬 📍 Indonesia 🇮🇩 📍 Iran 🇮🇷 📍Saudi Arabia 🇸🇦 and the United Arab Emirates have formally applied to join the BRICS alliance.

The next BRICS summit will be held in Cape Town, South Africa in August 2023. The five-nations bloc led by Brazil 🇧🇷📍Russia 🇷🇺 📍 India 🇮🇳 📍 China 🇨🇳 📍 and South Africa 🇿🇦 📍will combinedly decide on the launch of a new currency to settle global trade.