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Thailand Advances BRICS

Thailand Pushes Forward with BRICS Membership Amid Expert Skepticism

eBrics by eBrics
11 months ago
in General News
Reading Time: 4 mins read
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Thailand is pushing ahead with its application to join BRICS, the emerging market alliance that includes Brazil, Russia, India, China, and South Africa. Despite the government’s enthusiasm, some experts are raising doubts about whether joining the bloc aligns with Thailand’s long-term national interests.

Since the Thai Cabinet approved a draft application in May 2024, the process has progressed rapidly. Last week, Thailand’s new Foreign Minister Maris Sangiampongsa returned from a BRICS meeting in Nizhny Novgorod, Russia, where he formally submitted Thailand’s letter of intent to join the group. Maris met with Russia’s Foreign Minister Sergey Lavrov, as Russia currently holds the BRICS presidency. According to a statement from the Thai Foreign Ministry, BRICS will now review Thailand’s request through its formal processes.

Foreign Ministry spokesperson Nikorndej Balankura said that joining BRICS is in Thailand’s national interest. “BRICS has an important role in strengthening multilateralism and fostering economic cooperation among countries in the Global South,” Nikorndej stated. He also emphasized that membership would enhance Thailand’s role on the global stage, especially in trade, investment, and food and energy security.

BRICS, which represents over $28 trillion of the world’s $100 trillion economy, seeks to expand the influence of emerging economies, offering an alternative to the U.S.-dominated financial system. The bloc has established institutions like the New Development Bank, aimed at countering the influence of the World Bank and the International Monetary Fund (IMF). For Thailand, aligning with BRICS could provide an opportunity to diversify its economic partnerships and reduce reliance on Western-dominated financial systems.

However, Thailand’s bid has drawn skepticism. Thitinan Pongsudhirak, a political science professor at Chulalongkorn University, voiced concerns that BRICS has become more than just an economic coalition. He argued that it has evolved into a geopolitical platform increasingly positioned against Western interests. “BRICS started as an economic group, but now it’s become more of a geopolitical front against the West,” Thitinan said, adding that Thailand’s move could play into the agendas of key BRICS members like China and Russia. He believes Thailand should remain neutral and balanced in its foreign policy, rather than aligning itself too closely with anti-Western powers.

Thailand’s diplomatic positioning is particularly important as its relations with China deepen. China was Thailand’s largest trading partner in 2023, with bilateral trade totaling $135 billion. Chinese tourists also play a crucial role in Thailand’s tourism industry. Some experts believe that Beijing’s influence is a major factor behind Thailand’s push to join BRICS.

From a Chinese perspective, adding Thailand to BRICS would be beneficial, said Benjamin Zawacki, author of Thailand: Shifting Ground Between the U.S. and a Rising China. “China would like to see more countries in BRICS that share its financial worldview. Counting Thailand in that group would be to its advantage.”

Despite these concerns, Nikorndej stressed that Thailand intends to maintain good relations with all global powers, including the West, and sees itself as a bridge-builder. “Every country’s decision to join international groupings is based on its national interests. Thailand seeks to work with all partners, despite any differences,” he said.

Foreign Minister Maris reaffirmed Thailand’s commitment to BRICS, emphasizing at a media event that membership would help Thailand regain prominence as a key player in both regional and global arenas. He noted that BRICS is part of a broader strategy to elevate Thailand’s influence in the Global South.

Nonetheless, some critics argue that Thailand’s efforts may be more symbolic than strategic. Indonesia, the most populous Southeast Asian nation, declined to join BRICS in 2023, with experts suggesting that Jakarta’s decision was motivated by its desire to remain nonaligned. Thitinan pointed out that Indonesia’s hesitancy stems from uncertainty about BRICS’ future trajectory and its increasing anti-Western stance.

While Thailand may be seeking economic benefits, Ian Chong, a political scientist from Singapore, suggests the government is also considering BRICS as a way to diversify financial ties and supply chains. “Thailand likely views BRICS as a way to expand its economic options, particularly in times of financial crisis,” he said. However, Chong added that the actual benefits BRICS can deliver remain unclear.

As Thailand moves forward with its BRICS membership bid, the country faces a complex geopolitical landscape. Whether joining BRICS will provide the anticipated economic and political advantages or entangle Thailand in the bloc’s geopolitical dynamics remains to be seen.

Tags: BRICSThailand
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