By becoming member of BRICS, Turkey seeks to strengthen its influence in world: Bloomberg

Türkiye officially applied to join the BRICS group of emerging-market nations, which reflects Türkiye’s desire to develop new relationships beyond its traditional Western allies as the country remains a NATO member, according to Bloomberg. BRICS is an acronym for an association of five major emerging economies: Brazil, Russia, India, China, and South Africa. They are considered the main geopolitical rival of the G7 – the world’s leading developed economies: the USA, Japan, Germany, Great Britain, France, Italy, and Canada, which supported Ukraine when Russia started its full-scale invasion in 2022.  Türkiye, which has been in European Union accession talks since 2005, sees BRICS membership as a potential avenue to enhance economic cooperation with Russia and China, potentially positioning itself as a trade hub between the EU and Asia. It also aims to become a central point for gas exports from Russia and Central Asia, according to Bloomberg. The Turkish government, led by President Recep Tayyip Erdoğan, views the global geopolitical landscape as shifting away from developed economies, according to Bloomberg sources familiar with the matter who spoke on condition of anonymity. President Erdoğan emphasized Türkiye’s strategic position, stating, “Türkiye can become a strong, prosperous, prestigious and effective country if it improves its relations with the East and the West simultaneously.” BRICS positions itself as an alternative to Western-dominated institutions like the World Bank and International Monetary Fund. Membership could provide Türkiye with access to financing through the BRICS development bank and opportunities to expand political and trade relationships. The application to BRICS was submitted several months ago, partly in response to tensions with fellow NATO members following Türkiye’s continued close relations with Russia after its full-scale invasion of Ukraine in 2022. The BRICS group recently expanded to include Iran, the United Arab Emirates, Ethiopia, and Egypt. Saudi Arabia has also been invited to join. According to the Bloomberg sources, further expansion of the group may be discussed at the upcoming summit in Kazan, Russia, scheduled for 22-24 October. The expansion of BRICS has been largely driven by China, which seeks to increase its global influence by engaging nations traditionally allied with the United States, according to Bloomberg. In July, Turkish President Erdoğan proposed Türkiye as a mediator for a potential ceasefire between Russia and Ukraine during a phone call with Russian President Vladimir Putin.