During his monthly meeting with the national press on Saturday October 5, Algerian President Abdelmadjid Tebboune definitively turned the page on his country’s membership in the Brics economic group which brings together China, Russia, Brazil and India. and South Africa.
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In August 2023, Algeria’s integration into the BRICS was almost a given, but to everyone’s surprise, its application was withdrawn at the last minute. Several countries have been integrated such as Egypt, Ethiopia and the United Arab Emirates… Algeria has been criticized for not having a sufficiently diversified economy and for being too dependent on hydrocarbons. Algiers cited other reasons linked to its political positions on regional issues. Today, this question of joining the BRICS is no longer a priority.
After having desired it for a long time, this membership no longer concerns theAlgeria. The head of state says that it is first and foremost a question of pride.
“ Algeria does not wish to join a group where it is not wanted “, he said.
“We wanted to join for well-defined reasons, but when we saw the direction this organization was taking, our will changed », Explained President Tebboune.
Algeria wishes to reassess its objectives in light of recent developments in the BRICS. It focuses on targeted and more advantageous membership. It is, in fact, committed to financing the new New Brics Development Bank, to the tune of 1.5 billion dollars. For Algiers, this membership is crucial, because it will help emerging countries and constitutes an alternative to the World Bank.
This new strategy aims, it is said in Algiers, to maximize economic advantages while preserving room for diplomatic maneuver.
Finally, priority is currently given to the reconstruction of a strong national economy and the development of economic potential, to achieve food self-sufficiency.
Algeria produces 90% of the wheat it consumes today. This development also involves the ongoing digitalization of all sectors and the establishment of free zones at all the country’s borders.
In addition, 20,000 projects in the chemicals and metallurgy sector have been announced.
Also readAlgeria formalizes its request for membership in the Brics group