Egypt has applied to join BRICS

The Egyptian authorities have decided to apply for the country’s membership in BRICS. This was announced by the head of the Russian embassy in Cairo, Georgy Borisenko.

“Egypt has applied to join the BRICS group, because one of the things the BRICS is doing now is to convert trade to alternative currencies as much as possible, be it national currencies or the creation of some kind of joint currency. Egypt is very interested in this,” Borisenko told TASS.

According to the diplomat, Egypt shows great desire to develop trade and other types of economic cooperation with Russia. He explained that the process of building new mechanisms of mutual settlements in these trade operations is now underway.

Currently the organisation consists of Brazil, India, China, Russia and South Africa. Several dozen other countries have expressed a desire to join BRICS.

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Egypt has applied to join BRICS