Algeria to harmonize legislation before joining BRICS:Algiers Governor

• 

Algeria needs to harmonize its legislation with BRICS countries before joining the economic bloc, which could further benefit the country's economy, the governor of the capital of Algiers, Mohamed Abdenour Rabehi, told Sputnik on Saturday.

In early November, Algeria submitted an official application to join the BRICS, the Al-Shorouk newspaper reported, citing Leila Zaruki, the Algerian Foreign Ministry's special envoy for international partnership.

"Algeria would definitely like to join BRICS. The question is whether we will be accepted because there are certain obligations. We need to bring some of our legislative acts to a common standard," Rabehi said.

The governor added that the step would help Algeria boost its economic ties with the group's members as the country could develop its cooperation with other countries in areas such as mineral, gas, and water resources, among other things.

Moscow welcomes Algiers' desire to join BRICS

Russian Deputy Foreign Minister Mikhail Bogdanov announced earlier that Russia welcomes Algeria's desire to join the BRICS economic bloc.

Following Algeria's application submission, Algerian President Abdelmadjid Tebboune was to inform Moscow of a suitable schedule to pay a visit and meet with Russian President Vladimir Putin.

There is an agreement and an understanding between both sides that Algerian President Abdelmadjid Tebboune's visit to Russia will take place before the end of this year.

Algeria abstained from voting on the UN Resolution condemning Russia's special military operation in Ukraine.

After the United States, Russia, Iran, and Canada, Algeria is the world's fifth-largest gas producer. With an average of 982,000 barrels of oil produced daily as of February, the courtly is also among the top 20 crude oil producers. Sonatrach, Algeria's state-owned oil firm, produces, refines, transports, and sells petroleum products. It is the largest company not only in Algeria but also on the African continent.

Algeria is currently being explored by the European Union as a potential gas supplier alternative to Russia.

BRICS needs new members while retaining its original character

BRICS (Brazil, Russia, India, China, and South Africa) is an informal association of the world's major developing economies, which was formed in 2009 to enhance cooperation between the nations and elaborate common approaches to global economic challenges.

The BRICS members account for nearly 30% of the global gross output and around 40% of the global population.

"Of course, we welcome the desire of our partners and like-minded people to join the work of such formats as BRICS, SCO [Shanghai Cooperation Organization], Russian Deputy Foreign Minister Mikhail Bogandov stated.

Last June the BRICS countries agreed that the bloc needs new members while retaining its original character.

Earlier in May, Chinese Foreign Minister Wang Yi stated that China would initiate the process of BRICS expansion. He stated that it will demonstrate BRICS openness and inclusiveness, meet the expectations of developing countries, increase their representation and voice in global governance, and contribute more to global peace and development.

According to IMF data, China is BRICS' largest economy, accounting for over 70% of the 27.5 trillion economic might, while India accounts for around 13%, and Russia and Brazil account for 7%.