BANGKOK (ANN/CHINA DAILY) – Thailand has announced a strategic move to join the BRICS economic bloc, enhancing its engagement with global emerging economies.
The Thai Cabinet approved a draft letter indicating Thailand’s intention to become a BRICS member during a meeting on Tuesday, government spokesperson Chai Wacharonke revealed.
BRICS, which has been inviting non-member countries to its summits as part of its expansion policy, will hold its 16th Summit in Kazan, Russia, in October.
The letter, prepared by the Thai Ministry of Foreign Affairs, highlights Thailand’s commitment to multilateralism and increasing the representation of developing countries in the international system, aligning with BRICS principles.
Thailand is among 15 countries currently being considered for admission. Chai noted that attending the summit would provide an opportunity for Thailand to expedite its membership process and strengthen its position among developing nations.
Founded in 2009 by Brazil, Russia, India, and China, BRICS expanded in 2010 to include South Africa. This year, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates joined the bloc following the approval of the second expansion round at the 15th BRICS Summit.
BRICS now represents nearly 46 per cent of the world’s population, 36 per cent of global GDP, and 25 per cent of world trade, according to various research papers.
The expansion principles, standards, criteria, and procedures have been established in line with BRICS’ goals of strengthening cooperation across political and security, economic and financial, and cultural and people-to-people pillars.
In addition to its BRICS membership bid, Thailand has officially announced its intention to join the Organisation for Economic Co-operation and Development (OECD), which comprises 38 of the world’s most developed economies, as reported by the Bangkok Post.
