Vietnam explores possibility of BRICS membership
Date
4/18/2024 2:38:22 AM
(MENAFN) According to a report by the Izvestia newspaper citing Vietnam's embassy in Russia, Vietnam is actively exploring the possibility of joining the BRICS economic group. BRICS, comprising Brazil, Russia, India, China, and South Africa, has seen recent expansion with the inclusion of four additional countries earlier this year. While Vietnam has yet to make a formal decision regarding membership, it is laying the groundwork for potential participation in BRICS activities.
The report indicates that Vietnam is in the process of establishing a framework for engagement with BRICS and considering the feasibility of submitting a membership bid. However, it remains unclear whether Vietnam will send a delegation to the upcoming BRICS summit scheduled for October in the Russian city of Kazan.
The potential interest from Vietnam comes at a time when BRICS' geopolitical and economic significance has been on the rise, particularly in the aftermath of Western sanctions imposed on Russia following the Ukraine conflict in 2022. BRICS members have maintained or even increased their trade relations with Russia, positioning the bloc as a significant player in the global economic landscape.
Vietnam's potential bid for BRICS membership aligns with a broader trend of countries expressing interest in joining the group. Several nations, including Venezuela, Thailand, Senegal, Cuba, Kazakhstan, Belarus, Bahrain, and Pakistan, have already submitted formal applications or expressed their desire to become members.
As Vietnam explores the possibility of joining BRICS, its decision could have implications for regional and global economic dynamics, potentially strengthening ties with influential emerging economies and diversifying its diplomatic and economic partnerships.
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