30th September 2024 (11 Topics)

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Turkey's Aspiration to Join BRICS

Context

Turkey's recent bid to join the BRICS group—comprising Brazil, Russia, India, China, and South Africa—has raised significant discussions regarding its geopolitical strategy, economic motivations, and implications for its relationship with NATO. Also, this as a sign of Turkey's growing interest in fostering relations with India, particularly as it seeks BRICS membership.

Why Turkey wants to join BRICS?

Economic Diversification: Historically reliant on European markets, Turkey’s economy has faced stagnation. By joining BRICS, Turkey aims to access emerging markets, particularly in Asia, enhancing its trade relationships.
Strategic Positioning: Joining BRICS offers Turkey the chance to enhance its geopolitical significance. By aligning with emerging economies like China and India, Turkey aims to reshape its image as a leader within the Islamic world while distancing itself from its previous hardline stance.

Potential Implications for Turkey's International Relations

NATO Dynamics: While Turkey is unlikely to abandon NATO, the move signals a strategic diversification of its foreign policy. This dual alignment could enhance Turkey's geopolitical leverage but may lead to tensions with NATO members, especially given Turkey's prior acquisition of Russian defense systems.
Regional Influence: Membership in BRICS could amplify Turkey's influence in regions such as the Balkans, the Middle East, and Central Asia.
Economic and Investment Opportunities: Through BRICS, Turkey anticipates attracting investments, particularly for infrastructure and renewable energy projects. The BRICS New Development Bank could be a vital source of funding, facilitating Turkey's economic growth and enhancing its capacity to navigate current financial challenges.
In BRICS, Brazil, China and India are currently emerging as the world’s largest economies. By joining BRICS, Turkey will place itself in a group that advocates a more equitable global order, challenging the dominance of West-led institutions such as the IMF and the World Bank.

Fact Box: BRICS

BRICS took shape as a group in September 2006.
It was started by Brazil, Russia, India and China (BRIC). After South Africa was accepted as a full member in 2010, its name was changed to BRICS.
However, now the bloc has a total of 10 full members (latest addition of Egypt and Saudi Arabia).
- The new full members are Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates.
Russia is currently chairing the BRICS group.

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GS Analyst: Daily Current Affairs

30th September 2024 (11 Topics)

Copy

Turkey's Aspiration to Join BRICS

Why Turkey wants to join BRICS?

Potential Implications for Turkey's International Relations

Fact Box: BRICS

Still Have Questions?

GS Analyst: Daily Current Affairs

Turkey's Aspiration to Join BRICS

Why Turkey wants to join BRICS?

Potential Implications for Turkey's International Relations

Fact Box: BRICS

Still Have Questions?

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