In a surprising announcement, President Abdelmadjid Tebboune revealed Algeria's aspiration to join the "BRICS" group, stressing that "it has the necessary ingredients to join, and the economic conditions are available to a large extent."

The Algerian president went further in his regular meeting with the last national press, saying, "We will not pre-empt events, but God willing, there will be good news."

Tebboune explained that "the BRICS group is important to Algeria, as it is an economic and political power, and joining it will keep it - as a pioneer in non-alignment - from the polarization of the two poles."

Algeria’s desire to integrate into the BRICS group, according to experts, came in light of the improvement in the overall financial indicators of the economy, due to oil imports (50 billion dollars at the end of the year) and exports outside hydrocarbons (7 billion dollars expected in 2022), and the size of the exchange reserve is 42 billion dollars. With a trade surplus of $ 5 billion during the first six months of this year.

Algeria has also recently witnessed remarkable activity with the European continent, taking advantage of the repercussions of the Russian war on Ukraine, not to mention the initiation of the exploitation of important wealth such as iron and phosphates (global reserves), the opening of a continental transportation network such as the trans-Saharan road and the entry into the African Free Zone, and the launch of a project Hamdaniya port within the framework of the "Silk Road", to connect the continent with the northern bank of the Mediterranean.

Efficient candidate for integration

The head of the National Association of Tax Advisers, Boubacar Salami, said that the BRICS is a global force to be reckoned with according to economic data, as the growth rate of trade exchanges between all its countries from 2014 to 2017 amounted to 17%, while the average growth compared to the global average was 23%, an increase of nearly Half the global rate of increase in 10 years, with a crude internal product equivalent to 25% of global output.

Salami indicated in a statement to Al Jazeera Net that the BRICS exports 24% of the world's exports and 40% of energy, at a time when its population is close to 40% (3 billion people) of the world's total population, living on a third of the land, and it also established the "New Development Bank" To achieve a balance in global monetary and fiscal policy.

These facts have made the BRICS a promising economic, geo-strategic and demographic force with an increasing pace of growth, belonging to which is the dream of many countries, stressing in this regard that Algeria is of interest to Russia and China, as it is the second oil-producing country in Africa with an export capacity of 1.4 billion barrels annually, thanks to Sonatrach, which It is ranked 12th in the world, according to the ranking of the British "Economist", and is headed by the fourth best general manager in Africa and the Middle East, according to Forbes magazine.

Algeria also occupies an advanced rank in terms of military strength and defense spending, according to the statistics of the International Security Research Institute in Stockholm, in addition to the size of an exchange reserve that places it in second place in Africa.

Algeria is historically one of the advocates of establishing a new (fair) financial and economic system to protect countries on the path of development, as well as reforming the rules of work of the Security Council and the United Nations and reviewing the treaty with the European Union.

All these characteristics of different dimensions and capabilities make Algeria an efficient candidate to pass the barrier of acceptance in the group, according to the expert Salami's point of view.

Commercial and strategic focal point

For his part, Mustapha Boubacar, Professor of Finance and Banking at the University of Bouira Governorate, stressed that Algeria has strong economic cooperation and trade ties with the BRICS, especially with China, with which it signed in 2019 important agreements for strategic, economic and trade cooperation, within the framework of the “Belt and Road Initiative.”

In a statement to Al Jazeera Net, he referred to the establishment of the Hamdania port (the largest port in North Africa) in preparation for activating the Silk Line, as well as partnership in the construction, energy and trade sectors, as China's investments in Algeria amount to 10 billion dollars, and trade exchange is in the range of 9 billion dollars.

Mustafa Boubacar referred to other strategic agreements such as China's exploitation of the third world iron reserve in Ghar Jbeilat (southwest of Algeria), cooperation in the military and energy fields with Russia, in addition to the intersection of Algeria's political positions with the bloc countries on several issues.

Boubacar believes that Algeria's strategic location allows it to be one of the most important BRICS countries, with Russia in the north, China in the east, Brazil in the west, South Africa in the south, and Algeria in the center, to form a commercial and strategic point of contact that contributes significantly to facilitating trade, shipping, investment, docking and refueling ships and planes. In all directions of the five continents.

On the other hand, academic Mustafa Boubacar stresses the completion of creating the investment climate in Algeria by removing bureaucratic obstacles, improving the transparency index (ranked 86 internationally), strengthening infrastructure, stimulating the private sector more, activating the Algiers Stock Exchange, and liberalizing foreign trade, in addition to encouraging investment in The fields of energy, hydrocarbons and minerals for a competitive economy that achieves integration with the BRICS countries.

The spokesman believes that integration into the bloc is an easier and better opportunity for Algeria, "compared to the faltering negotiations of the World Trade Organization, as well as being subject to the unfair conditions of the European partnership", since the Algerian economy is almost similar to the structure of the economies of the group.

Berish Abdelkader encourages the Algerian government to think about the G-20 in the horizons of 2035 (Al-Jazeera)

"G20" in the horizons of 2035

For his part, a member of the Parliament’s Finance Committee, Brish Abdelkader, affirms Algeria’s ability to join the BRICS, “especially after the geopolitical developments that the world is currently going through due to the Russian-Ukrainian war and after the end of the Corona pandemic.”

Berish, the international expert, said that what gives Algeria the advantage is the country's potential, especially in energy, mining and other promising sectors, and in light of the existing economic reforms, with its will to diversify its partners and openness to foreign investments.

Brish praised Algeria's financial stability, in light of an acceptable level of exchange reserves and a positive external balance, with no external debt burden against a controlled internal debt (approximately 40% of the estimated gross domestic product of $170 billion), which "are all qualifications that allow joining the BRICS.

Breish believes that marketing Algeria's image within the group of emerging countries will have an important geopolitical dimension in its position, in order to ensure a balance in international relations with strategic allies.

Economically, Algeria will benefit from deepening the partnership, increasing trade exchanges with the bloc countries, attracting foreign investments from them, and transferring technology.

After joining the BRICS, completing the course of structural economic reforms and doubling its non-hydrocarbon exports, Algeria can raise the ceiling of its ambition to join the G20 in the horizons of 2035, as he put it.

As for the position of the European and American partners, the analyst commented that "Algeria is already seeking to reconsider the terms of the agreement with the European Union, on the basis of a strategic partnership and a win-win basis."

On the other hand, he stresses the development of economic relations with the United States in view of international competition and the polarization that Algeria's accession to the BRICS will cause, as "each country will work to preserve its share in the Algerian market."