{"id":35124,"date":"2024-10-25T04:19:19","date_gmt":"2024-10-25T01:19:19","guid":{"rendered":"https:\/\/sudanevents.com\/?p=35124"},"modified":"2024-10-25T04:19:19","modified_gmt":"2024-10-25T01:19:19","slug":"sudan-and-the-brics-group","status":"publish","type":"post","link":"https:\/\/sudanevents.com\/index.php\/2024\/10\/25\/sudan-and-the-brics-group\/","title":{"rendered":"Sudan and the BRICS Group"},"content":{"rendered":"
Dr. Haitham Mohammed Fathi<\/strong><\/div>\n
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The BRICS group\u2014comprising Brazil, Russia, India, China, and South Africa, and now with the addition of Egypt and five new countries\u2014represents the world’s fastest-growing economies. With these new members, the group has been renamed BRICS Plus, now comprising 11 nations that cover a quarter of the world’s landmass and nearly 42% of its population. The economies of the BRICS Plus countries represent around 32% of global GDP.<\/div>\n
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There are numerous benefits for countries joining the BRICS group, such as increased exports to member countries, access to new investments, and boosting intra-group trade. It also allows for local industry expansion, attracting large numbers of tourists, benefiting from low-interest financing from the BRICS development bank, and enhancing logistics, particularly in ports and land routes.<\/div>\n
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By the end of 2022, the total loans provided by the BRICS bank amounted to about $32 billion, financing infrastructure projects in emerging countries, including roads, bridges, railways, and water supply systems.<\/div>\n
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For China, the primary goal of BRICS is to enhance its influence and power, particularly in Africa, as it seeks to be the leading voice of the Global South. For Russia, the other global power in the group, BRICS serves as a tool in its struggle against the West, helping it overcome sanctions imposed after its invasion of Ukraine. Iran’s membership could further strengthen the group’s anti-Western stance.<\/div>\n
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Sudan, currently facing economic challenges, lacks the necessary conditions to compete with more developed countries like Bahrain or Algeria for BRICS membership. Sudan’s exports remain low, national income is significantly low, and GDP is weak.<\/div>\n
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However, Sudan might seek membership in the New Development Bank managed by BRICS as an initial step. This could increase Sudan\u2019s chances of eventual membership in BRICS through loans provided by the bank to help rebuild its infrastructure. Joining the BRICS development bank could bring financial and technical support to Sudan, offering easier loan terms than those imposed by institutions like the IMF.<\/div>\n
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Given Sudan\u2019s limited foreign reserves and foreign currency flows, BRICS membership could open up opportunities to develop trade with emerging economies, accelerate economic growth, create new markets, and attract foreign investment. Sudan\u2019s geopolitical position, acting as a link between continents, also makes it an ideal candidate for cooperation within China’s Belt and Road Initiative, which would enhance its international bargaining power.<\/div>\n
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Therefore, BRICS membership could help Sudan address internal issues and maintain political stability. With a population of 45 million and vast untapped potential, particularly with nearly 40% of the population under 18, BRICS countries could see Sudan as an attractive destination for low-cost labor and export-oriented manufacturing.<\/div>\n
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China, Sudan\u2019s largest trading partner for over 50 years, remains a key investor. China’s share of imports and its ability to manufacture goods for Sudan continues to grow.<\/div>\n
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Thus, the BRICS organization, as a global economic entity, represents an opportunity for Sudan to stabilize its economy and enhance the well-being of its people. It is vital for Sudan to participate in any economic system that offers mutual benefits, to choose the right time, and to cooperate with countries that align with its national interests.<\/div>\n","protected":false},"excerpt":{"rendered":"

Dr. Haitham Mohammed Fathi The BRICS group\u2014comprising Brazil, Russia, India, China, and South Africa, and now with the addition of Egypt and five new countries\u2014represents the world’s fastest-growing economies. With these new members, the group has been renamed BRICS Plus, now comprising 11 nations that cover a quarter of the world’s landmass and nearly 42% …<\/p>\n","protected":false},"author":2,"featured_media":34489,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[],"class_list":["post-35124","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economic"],"_links":{"self":[{"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/posts\/35124","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/comments?post=35124"}],"version-history":[{"count":1,"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/posts\/35124\/revisions"}],"predecessor-version":[{"id":35125,"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/posts\/35124\/revisions\/35125"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/media\/34489"}],"wp:attachment":[{"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/media?parent=35124"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/categories?post=35124"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/tags?post=35124"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}