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Thailand is on the verge of joining the BRICS

June, 14 2024
watermark Economic news

Thailand has officially notified Russia of its intention to join the BRICS. Thai Foreign Minister Maris Sanjampongsa delivered a letter with this intention to Russian Foreign Minister Sergei Lavrov on June 11.


The minister said that Thailand, as an intermediary between different groups of countries, «could increase the inclusiveness and interconnectedness of the BRICS», as well as increase the effectiveness of the BRICS in promoting the interests of developing countries.


If the application is approved, Thailand will become the first Southeast Asian country to join the BRICS. According to the Thai Foreign Ministry, all current BRICS members supported this decision. The final approval may take place at the summit scheduled for October in Kazan.


Earlier, Russian President Vladimir Putin met with Turkish Foreign Minister Hakan Fidan, who arrived in Moscow to participate in the BRICS session as part of the meeting of the association's foreign ministers. Putin noted: «We welcome Turkey's interest in the work of BRICS and the development of our relations under the leadership of my friend, President Erdogan.»


Currently, the BRICS includes Brazil, Russia, China, India and South Africa. Last August, Saudi Arabia, the UAE, Egypt, Iran, Argentina and Ethiopia were invited to the bloc at the summit.


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Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.