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FX.co ★ Sudan takes first steps toward BRICS membership

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Forex Humor:::2015-08-20T15:50:00

Sudan takes first steps toward BRICS membership

The Republic of the Sudan stated its willingness to join the BRICS. According to the country's Finance Ministry Undersecretary Abdel-Rahman Dirar, the membership will enable Sudan to implement economic plans to the utmost. However, experts raise a logical question: what exactly can Sudan offer to the BRICS? "Currently, Sudan has no chances to join the BRICS in foreseeable future. During the last summit of developing countries in Ufa, this issue was expressly stated. Now, major structural rules of the BRICS, as well as its transformation into a full-scale mechanism of strategic cooperation over the whole range of relations between countries are being working out," Head of the Research Center of Russian-African Relations and African foreign policy at the Institute for African Studies of the RAS Evgeny Korendyasov said. Sudan is not at the head of the queue to join the economic and political union. Applications submitted by Argentina, Indonesia, Kazakhstan and even Iran are under consideration at the moment. Sudan can hardly compete with stronger rivals. It is a former British colony with a population of about 40 million people. Fiscal revenues come from oil exports and agriculture. Importantly, gold mining is steadily booming nowadays. On the whole, the industrial sector is poorly developed in Sudan. Such branches as oil processing, oil production, textile, and agriculture account for the bulk of the industrial sector in the Republic.

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