Tunis:Algerian President Abdelmadjid Tebboune was quoted by Ennahar TV as saying that Algeria has submitted an application to join the BRICS group and a request to become a shareholder member of the BRICS Bank with a contribution of $1.5 billion. It was also mentioned that Tebboune stated Algeria's desire to join the BRICS in order to create new economic opportunities at the conclusion of his visit to China.

The oil and gas-rich nation in North Africa is attempting to diversify its economy and improve relations with nations like China.

Brazil, Russia, India, China, and South Africa make up the BRICS group of countries. It makes up about 26% of the world's economy and more than 40% of the world's population.

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We sent a letter requesting to be shareholder members in the bank and submitted an official application to join the BRICS group. According to Tebboune, Algeria's initial investment in the bank will be $1.5 billion, according to Ennahar.

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According to South Africa's top diplomat overseeing relations with the bloc, more than 40 nations have expressed interest in joining the BRICS group of nations.

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Among the nations that expressed interest were Argentina, Iran, the UAE, Cuba, the Democratic Republic of the Congo, Comoros, Gabon, and Kazakhstan.
Tebboune was quoted this week in local media as saying that China will invest $36 billion in Algeria across a variety of industries, including manufacturing, new technology, the knowledge economy, transport, and agriculture.