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Latin America’s Interest in BRICS
Latin American nations have shown growing enthusiasm for joining BRICS, with Brazil already one of the founding members. Dr. Aparajita Pandey, an expert on Latin America and the Caribbean, remarked that “more countries have shown an interest in being members of the grouping that has evolved as an alternative to the West-dominated frameworks of multilateral blocks and global economic institutions.” She noted that the appeal of BRICS to the region stems from its representation of the global majority and its potential to address economic and developmental needs without the constraints imposed by Western financial systems.
Brazil’s involvement has paved the way for other Latin American nations, and Dr Pandey explained that the presence of Brazil in BRICS “sets the tone for the rest of Latin America to view the grouping with greater faith and potential.” China and India, two key BRICS members, also hold significant influence in Latin America. China’s deep market penetration and India’s rapid economic growth, which is expected to surpass many major economies by 2030, are drawing the attention of countries like Bolivia and Colombia.
Bolivia and Colombia: Seeking Opportunities
Bolivia has expressed a strong desire to join BRICS, viewing membership as an opportunity to enhance its participation in global trade. According to Pandey, “Bolivia has worked closely with China and Russia on lithium, and this helps their bid for the grouping.” The country sees BRICS as a platform that represents 45% of the world’s population, providing vast opportunities for trade, investment, and people-to-people connections. Bolivia’s close collaboration with key BRICS members on resource development, such as lithium, highlights its alignment with the bloc’s goals of sustainable growth and equitable development.
Colombia has also demonstrated significant interest in BRICS, with Dr. Pandey noting the country’s efforts to “foster a deeper strategic partnership with India” as part of its bid. Colombia, like Bolivia, sees the New Development Bank (NDB) as a promising alternative to traditional Western financial institutions like the International Monetary Fund (IMF). Latin American nations have long been wary of Western-led financial mechanisms, particularly after the economic struggles of the 1980s, and view the NDB as a more favorable option for investment and growth.
However, Colombia’s political landscape remains a potential obstacle. She pointed out that the upcoming presidential election in two years could shift the country’s foreign policy direction, similar to what happened in Argentina after Javier Milei’s election. A right-leaning government might pull Colombia closer to Western alliances, potentially complicating its ambitions to join BRICS.
BRICS and the Global Majority
The growing interest in BRICS from South American nations reflects a broader trend among Global East and Global South countries that are seeking alternatives to Western-dominated frameworks. The bloc’s emphasis on collaboration, rather than confrontation, has resonated with countries eager to safeguard their economic systems from external pressures.
Lavrov criticized the West’s frequent use of sanctions to maintain economic dominance, a practice that has alienated many countries. He argued that the arbitrary nature of these sanctions, often imposed without regard to international principles, has driven nations to look for more reliable partners. Lavrov further pointed out that BRICS nations, alongside other international groupings like the Shanghai Cooperation Organization (SCO) and the African Union, are focused on protecting their economic systems from such external interference.
The Path Forward for BRICS
As BRICS continues to expand, it remains open to bringing in new members and exploring innovative forms of cooperation. Lavrov mentioned that around 30 countries have shown interest in building closer ties with the bloc, with some applying for full membership and others participating in the BRICS Plus/Outreach format. The upcoming summit in Kazan is expected to formalize new partner country categories, giving nations broad rights and privileges, nearly equivalent to full membership.
Turkey, a member of NATO, has also expressed interest in BRICS. Lavrov cited recent comments from Turkish Foreign Minister Hakan Fidan, who acknowledged the difficulties Turkey has faced in joining the European Union and suggested that BRICS offers a more welcoming alternative.
As BRICS expands, the grouping will continue to attract countries seeking an alternative to Western hegemony in global economic and political affairs. The inclusion of more South American nations would further strengthen the bloc’s position as a leading force in shaping the future of international cooperation.
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Publish date : 2024-10-20 23:41:00
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