The BRICS bloc is on the brink of another significant expansion. At its 2024 annual summit, the group is set to welcome new nations into its fold, following the six-nation invitation extended at the previous summit.

Last Year's Expansion

Last year, the BRICS nations asked Saudi Arabia, the United Arab Emirates (UAE), Iran, Egypt, Ethiopia, and Argentina to join the bloc, which Brazil, Russia, India, China, and South Africa form. Five of them accepted the invitation.

The inclusion of these nations has bolstered the bloc's influence and reach. Over 40 countries have expressed interest in joining BRICS, but two primary candidates have now come forward with concrete plans.

Rising Geopolitical Influence

Over the last two years, BRICS has become a critical geopolitical voice. The bloc has announced its goal to reduce international reliance on the West through de-dollarization initiatives.

This focus has attracted a host of countries eager to join this growing collective. Now, two specific nations—Thailand and Venezuela — are announcing their plans to join the BRICS bloc.

Thailand's Ambitious Move

Thailand is positioning itself as the first Southeast Asian country to join the BRICS grouping. The Thai government has announced its intention to apply for admission to BRICS this month.

Reports suggest that the government is finalizing its application plans. Thailand's potential entry would significantly enhance its international prevalence and influence in the BRICS region.

"Thailand's inclusion would mark a pivotal moment for the country and the BRICS alliance."

Venezuela's Commitment

Venezuela recently expressed its intention to join the BRICS bloc during the October 2024 summit.

President Nicolas Maduro recently discussed Venezuela's relationship with the alliance, highlighting the nation's focus on its application plans. In a recent speech, Maduro praised BRICS for ushering in "a new world" through its activities.

"When we talk about BRICS, we are talking about a new world of high technological, scientific, economic, and financial development," Maduro stated.

Venezuela and Thailand will be among many countries seeking integration into the alliance when expansion countries are announced at the October summit.

Thailand's and Venezuela's inclusion in the BRICS could further strengthen the bloc, and it would definitely be a historic milestone during the upcoming summit later this year.