Turkey has formally applied to join the BRICS group of emerging economies, driven by frustrations with the West and the European Union, aiming to strengthen its global influence, diversify alliances beyond the West, and establish new ties as it perceives a shift in geopolitical power away from developed economies.
The expansion of the BRICS group, which currently includes Brazil, Russia, India, China, and South Africa, as well as potential new members like the UAE, Ethiopia, and Egypt, is seen as an alternative to the U.S.-led G7 group. Turkey's membership application is expected to be discussed at a summit in Russia in October.
BRICS offers an alternative to Western-dominated institutions like the World Bank and IMF, providing opportunities for financing and political/trading relationships. However, Turkey's support for extremist regimes and actions against India and the U.S. may make it challenging for Turkey to get its BRICS membership approved, according to some sources.
In addition to Brazil, Russia, India, China, and South Africa, other emerging economies like Iran, the UAE, Ethiopia, Egypt, Malaysia, Thailand, and Azerbaijan are also considering or joining BRICS, further expanding its prominence.
This article was written in collaboration with Generative AI news company Alchemiq
Sources: Newsweek, Bloomberg, Benzinga, Al Mayadeen, Amwal Al Ghad, IFP News, Al Arabiya, Tengrinews, Newsdirectory3, The Times Hub, Asia Plus, Watcher Guru, Exbulletin, Euractiv, Topbuzztimes, Therussophile, Euromaidan Press