Why many countries want to join BRICS
Among them are economic, political and other aspects
The XV BRICS summit, held in August 2023 in Johannesburg, has gone down in history as the most representative: more than 60 countries were invited to participate in its work, 5 of which joined the association from 1 January 2024.
In an exclusive interview with TV BRICS, Alisa Kozelko, an expert in foreign policy and economics from Argentina, Brazil, Mexico, and an international journalist, gave five reasons why the BRICS alliance is so attractive to many countries.
First, from the political point of view, BRICS positions itself as a platform for dialogue on a wide range of issues, which is an analogue to the organizations created in the era of the Bretton Woods system. BRICS is attractive because dialogue within its framework is conducted on an equal basis, unlike such structures as the IMF, where the G7 countries have more than 40 per cent of votes.
Secondly, from an economic perspective, BRICS has the potential for rapid economic development, expressed in the co-operation of its member states on key tracks such as:
– increasing investment attractiveness (possibility of joining the New BRICS Development Bank with a charter capital of US$100 billion);
– intensification of mutual foreign trade turnover (reaching US$8,5 trillion in 2022).
Third, the BRICS format is a platform for dialogue that does not bind its participants to allied security commitments.
Fourth, the BRICS format is interesting from the point of view of ESG trends. The BRICS agenda touches upon issues such as socio-economic sustainability, cooperation in green innovation and low-carbon development, and environmental protection, which the accession candidates are also interested in promoting.
Fifth, in terms of intercultural communication. Bringing together countries with different cultures, BRICS is actively developing strategies to use cultural exchanges as a catalyst for economic growth of member countries.
*Editorial opinion may not coincide with the positions of experts.
Photo: iStock-
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![Xi Jinping]()
Xi JinpingPresident of the People’s Republic of China"The foundation of our bilateral relations will only grow stronger, and we will confidently move forward to a better future. […] The striving of nations on our planet for peace, development, cooperation and mutual benefit remains unchanged. The vital mission of the Shanghai Cooperation Organisation is to maintain stability and promote the development of our region" -
![Alisher Salomov]()
Alisher SalomovAdviser to the Chairman of the National Committee for Ecology and Climate Change of the Republic of Uzbekistan"First and foremost, I would like to highlight the importance of this Central Asia–Russia initiative, because environmental problems know no borders, and only a shared understanding of these problems and the search for joint solutions can deliver positive results" -
![Joao Paulo Capobianco]()
Joao Paulo CapobiancoBrazilian Minister of the Environment and Climate Change"The BRICS countries have a very high level of responsibility because they share an important part of the world's biodiversity, landscapes, populations, food production and water resources. So, we have an opportunity to lead by example. We have our development bank, which can demonstrate and develop new ways of financing programmes. We can reduce the risks for private capital to invest in restoration and efforts to combat desertification" -
![Dilma Rousseff]()
Dilma RousseffPresident of the New Development Bank"India’s BRICS Presidency this year gives special significance to our discussion. NDB stands ready to be a trusted partner in turning commitments on sustainability, clean energy, smart and resilient infrastructure into concrete results on the ground. […] For NDB, mobilising private capital is a strategic imperative. Created by the BRICS founding members, NDB is a bank of the Global South, for the Global South, mandated to mobilise resources for infrastructure and sustainable development" -
![Sihasak Phuangketkeow]()
Sihasak PhuangketkeowDeputy Prime Minister and Minister of Foreign Affairs of Thailand"BRICS can play a very important role in maintaining the free flow of trade and investment. The group can also be a vehicle for all of us to engage and to look at economic opportunities"
