As China-backed Brics mulls Thailand membership, could more countries soon join the club?
- Bangkok’s move to proceed with bloc application comes after grouping expanded beyond core members earlier this year
Still, the 10-member bloc of major emerging economies has “a long way to go” before it achieves a greater role in global governance, as it remains “relatively marginal and fragile” despite being a new-style organisation, analysts said.
At a meeting on May 28, the Thai cabinet approved a government draft letter that indicated Bangkok’s intention to become a member of Brics, in another sign that the No 2 economy in Southeast Asia is moving ahead with a plan to apply for membership in the intergovernmental mechanism.
The next Brics summit to be held in Kazan, Russia in October will be an opportunity for Thailand to accelerate its accession, government spokesman Chai Wacharonke said on May 28.
“Thailand’s accession to Brics would benefit the country in several dimensions [for example] elevating the country’s role in the international arena, and increasing its opportunity to take part in international economic policymaking, and to create a new world order,” read a statement from the Thai government.
Bangkok’s move came after the grouping officially expanded beyond its core members of Brazil, Russia, India, China and South Africa earlier this year, adding five more countries – Iran, Egypt, Ethiopia, the United Arab Emirates and Saudi Arabia.
Argentinian President Javier Milei withdrew the country from its planned entry into Brics last year. Still, Russian Foreign Minister Sergey Lavrov said last month that more than 30 states had applied for various levels of affiliation with the group.