The Thai Government has announced plans to apply to join the BRICS bloc in order to revitalize its stagnant economy and increase its global presence.[1] BRICS (Brazil, Russia, India, China, Brazil, Russia, India, China and South Africa) has recently embarked on an expansion process by admitting Saudi Arabia, Iran, Ethiopia, Egypt and the United Arab Emirates (UAE) as members in 2024. If Thailand’s application is accepted this year, it will be the first member of BRICS from the Southeast Asian region.
According to the Bangkok Post, Government Spokesperson Chai Wacharonke said that the cabinet approved the draft of the official letter stating Thailand’s intention to become a member of the group.[2] Thailand is among 15 countries being considered for the next round of accession, including regional neighbors Vietnam and Indonesia. According to Chai, Thailand’s letter states that BRICS membership “will benefit Thailand in many ways, including strengthening the country’s role in the international arena and increasing opportunities to co-create a new world order.” The spokesperson added that the country’s vision “is in line with BRICS principles”.[3]
Countries interested in joining BRICS have been invited to participate in the Sixteenth BRICS Summit to be held in Kazan, Russia from October 22-24, 2024. Thailand’s interest in BRICS goes back a long way. The membership bid seems to be in line with Thai Prime Minister Srettha Thavisin’s goal of strengthening the country’s economy and raising its international profile, which was weakened during the years of direct and indirect military rule after the 2014 coup.
Many observers, both in the West and in the Global South, have expressed skepticism about BRICS’ potential, given the platform’s complex institutional structure and the very different motivations of its members to join the bloc. The enlarged BRICS undoubtedly serves as an important forum for communication among middle-income countries, but its influence on global issues may be limited. Nevertheless, the Thai Government sees no harm in being involved in any grouping that could possibly help strengthen its global economic and political position. However, it is important to put BRICS in perspective.
Thai Finance Minister Thirachai Phuvanatnaranubala said last year that BRICS membership was important for the country to adapt to the changing global balance of power. Phuvanatnaranubala also emphasized the importance of reducing Thailand’s dependence on the United States and developing new strategic relations in foreign policy.[4]
Thailand has also embarked on a long process to become a member of the Organization for Economic Cooperation and Development (OECD), a grouping of developed countries. Thailand recently submitted a letter of intent to the OECD General Secretariat expressing its commitment to join the bloc. However, given that the OECD’s institutional approval process is longer than that of BRICS, Thailand’s new foreign policy pursuits are likely to continue. Thailand’s membership in two competing geoeconomic blocs, the OECD and BRICS, is consistent with Thailand’s current economic policy agenda. Thailand has the potential to position itself between the superpower blocs, between the United States as a security ally and China as its main economic partner.
Thailand’s Membership in BRICS and its Possible Consequences:
- Thailand’s accession to BRICS will strengthen the country’s diplomatic flexibility and multilateral foreign policy strategy. Its efforts for both BRICS and OECD membership reflect Thailand’s desire to balance with various power centers in the global arena. This can be seen as a strategic move to balance Thailand’s relations with major powers such as the United States and China. Thailand aims to maximize its economic and political interests in this process.
- BRICS membership could offer Thailand significant economic and trade opportunities. By building stronger economic ties with other members of the bloc, it can increase its exports and attract foreign investment. This can play a critical role, especially to support and diversify economic growth. BRICS can also help Thailand explore markets outside its traditional trading partners.
- Through BRICS membership, Thailand can play a more active role in global politics. BRICS provides a platform for developing countries to have a stronger voice. Through this platform, Thailand can become more influential in international affairs. This will give Thailand a greater voice on the global political and economic stage.
- Thailand is likely to face some challenges in the BRICS membership process. The internal dynamics of BRICS and the different motivations among members create uncertainties about whether the bloc will be an effective cooperation mechanism. Moreover, Thailand’s simultaneous aspiration for OECD membership could complicate its efforts to achieve foreign policy balance. The OECD’s strict institutional requirements and lengthy approval process may make it difficult for Thailand to achieve this goal.
In conclusion, Thailand’s BRICS membership is an important step towards the country’s strategy of economic growth and increasing its global presence. The efforts for membership in two important blocs, BRICS and OECD, are a reflection of Thailand’s multilateral foreign policy strategy and its search for balance in the global arena. Thailand has the potential to gain a stronger position on the global stage by protecting its economic and political interests in the best way possible. However, the challenges and uncertainties it may face in achieving these goals require Thailand to adopt a careful and strategic approach. How Thailand strikes this balance will play a critical role in determining its future international positioning and global role.
[1] “Thai Cabinet Formally Approves Bid for BRICS Membership”, The Diplomat, https://thediplomat.com/2024/05/thai-cabinet-formally-approves-bid-for-brics-membership/, (Date of Access: 01.06.2024).
[2] Ibid.
[3] Ibid.
[4] “Thailand aims to become first Southeast Asian BRICS member”, Nikkei Asia, https://asia.nikkei.com/Politics/International-relations/Thailand-aims-to-become-first-Southeast-Asian-BRICS-member, (Date of Access: 01.06.2024).
