Brics+: Another Brics in the Wall?

Why Turkey Wants to Join the Exclusive Club of Emerging Economies

Introduction

BRICS, an acronym for Brazil, Russia, India, China, and South Africa, is an influential bloc of emerging economies that has gained significant global attention since its formation in 2009. Recently, Turkey has expressed its desire to join the group, sparking speculations about the potential implications of such an expansion.

Turkey's Motivations:

• Economic Benefits: Access to a larger market, increased trade opportunities, and potential investments.
• Political Influence: A voice in a powerful international forum, bolstering Turkey's regional and global influence.
• Development Support: Collaboration with BRICS members on economic development, infrastructure projects, and technological advancements.

Challenges to Turkey's Inclusion:

• Economic Disparities: Turkey's economy is significantly smaller than that of the existing BRICS members, raising questions about compatibility.
• Geographic Distance: Turkey is geographically distant from the other BRICS nations, posing logistical and communication challenges.
• Political Tensions: Turkey's relations with some BRICS members, particularly Russia, have been strained at times due to regional conflicts.

BRICS+ Expansion:

The concept of BRICS+ has emerged, referring to the potential inclusion of other emerging economies into the bloc. Turkey, along with Argentina, Egypt, Indonesia, and Saudi Arabia, have been considered as potential candidates.

Expansion could potentially diversify the group, expand its global influence, and address emerging challenges. However, it also raises concerns about maintaining coherence and managing diverse interests within the enlarged bloc.

Conclusion:

Turkey's desire to join BRICS highlights the growing importance of emerging economies in global affairs. While potential benefits exist, challenges related to economic disparities, geographic distance, and political tensions need to be carefully considered.

The concept of BRICS+ raises intriguing possibilities for the future of the bloc, but also presents complexities and uncertainties that require careful evaluation.