Thailand Sets Sights on Becoming First Southeast Asian BRICS Member

Thailand is set to seek membership in the BRICS alliance of emerging economies as early as this month, according to Thai government officials cited by media.

The intention is to collaborate with other nations in the Global South to bolster its international influence. The BRICS bloc consists of Brazil, Russia, India, China, and South Africa.

During a cabinet session on Tuesday, the Thai government concluded its preparations to formally apply for membership. If successful, Thailand would mark the first Southeast Asian nation to join the club.

A spokesperson for the government, speaking at a press briefing following the meeting, highlighted that joining BRICS would elevate Thailand's standing as a leader among developing nations.

Thailand's governing Phua Thai party is set to participate in the BRICS inter-party forum scheduled for this coming June in Vladivostok. This announcement was made to Russian journalists by Andrei Klimov, Deputy Chairman of the United Russia General Council Commission on International Cooperation and Support for Compatriots Abroad, during his attendance at the International Conference of Asian Political Parties (ICAPP).

"We agreed to prepare a document, most likely it will be a cooperation agreement. And, apparently, we will be able to sign it in Vladivostok, where we intend to hold a full-fledged bilateral meeting between representatives of our parties. An inter-party forum will be held in Vladivostok in mid-June BRICS," Klimov stated.

Klimov emphasized that Phua Thai is invited to join a round table discussion among political parties from ASEAN countries that have existing inter-party agreements with Russia.

"These are very influential ASEAN countries. And Phua Thai has been invited to participate in the forum. Apparently, we will discuss issues related to financial and economic security in relations between Russia and ASEAN," he elaborated.

BRICS currently constitutes around 36% of global GDP in terms of purchasing power parity (PPP), surpassing the G7's share of just over 30%. Dilma Rousseff, the head of the New Development Bank (NDB), stated in February that BRICS aims to surpass the G7 in nominal global GDP within the next four years, according to the International Monetary Fund (IMF).

Originally consisted of Brazil, Russia, India, China, and South Africa, BICS establishing itself as a forum with five founding members. However, it expanded its membership last year, welcoming Saudi Arabia, Egypt, the United Arab Emirates, Iran, and Ethiopia into its ranks on January 1, 2024. Since then, an additional 16 countries have expressed interest in joining the group, and among them are Bahrain, Belarus, Cuba, Kazakhstan, Pakistan, Senegal, Sri Lanka and Venezuela.

BRICS now represents approximately 30% of the global economy encompasses a population of around 3.5 billion people, constituting about 45% of the world's total population. Moreover, it contributes to over 40% of the world's oil production.

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