Algerian President Abdelmadjid Tebboune has reportedly said that his country is interested in joining the BRICS and is close to qualifying for membership in the group.

Algeria largely meets the conditions for joining BRICS already, Tebboune said on Sunday in an interview with a state-owned broadcaster. The group is named for its member states – Brazil, Russia, India, China and South Africa – and it plans to consider adding Saudi Arabia, Turkey and Egypt at its summit next year.

This year’s BRICS summit, which was held online in June, was expanded to include participation from 13 other countries, including Algeria. Tebboune was the first guest to speak, calling for “a new economic order where parity and equity between countries will reign.”

“Our past experiences have shown us that the imbalance recorded on the international scene and the marginalization of emerging countries within world bodies constitute a source of instability, lack of equity and absence of development,” the Algerian president added.

BRICS nations already account for more than 40% of the world’s population. The bloc’s stated goals are to promote peace, security, development, global cooperation and development of humanity. Iran and Argentina formally applied to join the group in June.

Russia, China and other BRICS members are reportedly developing a new global reserve currency, potentially undermining the dominance of the US dollar.

Tebboune said during the same television interview that Algeria, a former French colony, will start teaching English in elementary schools this year. “French is a spoil of war,” he said, “but English is an international language.”