Liechtenstein
Source: www.gisreportsonline.com

Since last year, Thailand has been trying to accelerate its integration into regional and international frameworks and institutions under Prime Minister Srettha Thavisin. Mr. Srettha and his team hope that this more active geo-economic institutional agenda will both boost the country’s economy and help restore its international standing after nearly a decade of military government since a 2014 coup.

A new vision of Thailand in a changing world

Since taking office in May 2023, Mr. Srettha has tried to build out a geo-economic institutional agenda to stimulate Thailand’s economy and reinforce its strategic position. That vision rests on positioning the country in key arrangements that allow it to use a combination of trade, investment and sectoral pathways to catalyze growth in a more competitive, complex and polarized world. This vision, combined with Thailand’s capacity as Southeast Asia’s second-largest economy and one of the world’s 20 most populous countries, can help put it on the radar as an active diplomatic player that can contribute alongside others across a range of issue areas. “This could be an opportunity for us to strengthen regional and cross-regional cooperation that is open and outward-looking,” the prime minister told an audience at a regional forum in Japan in June.

Mr. Srettha has looked to make quick gains on this front. At home, he outlined his Vision 2030 “Ignite Thailand” program, which aims to transform the country into a global economic hub in eight industries: tourism, wellness and medical services, agriculture and food, aviation, logistics, future mobility, digital economy, and finance. Abroad, Thailand has moved forward with its bids to join both the Organisation of Economic Cooperation and Development (OECD) with developed economies, as well as the BRICS group with developing economies. (The group is named after its initial members before a recent expansion: Brazil, Russia, India, China and South Africa.)

In November 2023, Thai diplomats were told that the twin BRICS-OECD bids were part of a broader approach where Thailand should try to play a greater role in regional and minilateral groupings in proactive, forward-looking and expansive ways, beyond just traditional multilateral forums. These included China’s Belt and Road Initiative (BRI), the U.S.-led Indo-Pacific Economic Framework (IPEF), the Group of Twenty (G20), as well as the Gulf Cooperation Council (GCC).

A demanding environment for Thai diplomacy

Yet this vision is not without its challenges. Internally, evolving political dynamics and questions around the coalition government and Mr. Srettha’s Pheu Thai party have shown signs of exacerbating tensions between domestic and foreign policy. The prime minister suspended his overseas travel briefly in March after mounting public criticism that he was spending too much time abroad. An April cabinet reshuffle also saw him abruptly lose his foreign minister, who had helped develop this approach, amid lingering skepticism in some parts of the bureaucracy. Externally, it is unclear if Thailand, historically a U.S. treaty ally, will have the space to promote its wider agenda and avoid taking sides in the face of intensifying U.S.-China competition. Prime Minister Srettha himself has noted that while he remains optimistic about the prospects for his vision, he is trying to advance it in a world that is facing three simultaneous challenges: intensifying superpower rivalry, declining multilateralism and globalization, and disruptive technological change.
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Managing those challenges can sometimes get in the way of this institutional agenda. For instance, Thailand’s membership application to join BRICS has been advancing at a time when the group is increasingly perceived by some as a bloc that advances a Sino-Russian joint agenda, rather than just another non-Western alliance promoting the interests of the developing world in specific functional areas, as was the case when it held its first summit in 2009. As a result, Thailand has had to advance its bid more quietly to avoid ruffling too many feathers.
ScenariosMost likely: Expansion

Thailand will continue to fill in the outlines of a more energetic approach, with some tangible benefits for the country. The expansive approach would be centered on trying to actively influence the agenda of leadership in new and existing institutions on issues that align with Thailand’s domestic agenda. Closer to home, this could include working with others to shape institution-building in the Mekong subregion, which is increasingly being dominated by China and its Lancang-Mekong Cooperation (LMC) framework.

Further abroad, it could also include injecting more energy into perceived underperforming frameworks and bodies that encourage sectoral economic cooperation. These include the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC), which Thailand has chaired since 2022 and which brings together a mix of South and Southeast Asian states, as well as the Asia Cooperation Dialogue – the first international grouping to cover Asia as a whole, which Thailand is set to chair next year.

Less likely: Narrowing

Here, while Thailand’s geo-economic institutional approach would continue, the prism through which it is viewed would narrow as Prime Minister Srettha’s agenda begins running out of steam at home and the country comes under pressure from intensifying geopolitical competition abroad. The Thai government would focus more on a select few minilateral institutions and frameworks that bring more immediate economic benefits for the country. These are likely to be more issue- and sector-specific, such as Mr. Srettha’s proposed joint-visa program among mainland Southeast Asian countries to boost tourism. They may also include the promotion of project-based connectivity schemes with bordering states Cambodia and Laos, as well as Malaysia through Thailand’s southern provinces, including building roads and bridges to enhance trade. Thailand’s more ambitious institutional advances could also be challenged. For instance, the OECD accession process typically takes several years of rigorous review across key areas including structural reform, open trade and investment, inclusive growth and governance.

Least likely: Shift to domestic priorities

Here, Thailand would turn inward rather than outward in its geo-economic institutional approach. Given the country’s longstanding record of active diplomacy, regionally and internationally, this is most likely to occur in response to a shock, such as protracted political instability that paralyzes the government. In this scenario, Thailand’s institutional engagement will be constrained even further. It is likely to be limited to basic participation in traditional multilateral forums such as the United Nations, the Asia-Pacific Economic Cooperation forum and the Association of Southeast Asian Nations. We may also see a more transactional approach to advancing institutional priorities abroad that can be justified by linkages to increases in jobs and incomes at home within the government’s prioritized sectors. This could include promoting soft-power-related initiatives in narrower ways and in select institutions, in fields like food, sports, fashion and film, for example through new programs, forums and expos with neighboring countries.

China
Source: www.globaltimes.cn


Experts say the continuous expansion of the group boosts momentum and confidence for the common development of emerging economies

In addition to Malaysia's official application to join BRICS, Belarus and El Salvador have added more voices to a chorus of countries seeking to join the group. Experts view the countries' increasing interest as a reflection of the strong consensus among developing nations on the significance of this cooperation mechanism, which is injecting more confidence and vitality into the development of Global South.

According to Xinhua News Agency on Sunday, Malaysia has sent a letter of application to join the BRICS organization to Russia, the BRICS rotating chair, expressing openness to participate as a member country or as a strategic partner.

BelTA News Agency on Monday quoted Belarusian Minister of Foreign Affairs Maksim Ryzhenkov as saying that Belarus expects to be among the top 10 countries to get the status of a BRICS cooperation partner. According to Ryzhenkov, Belarus views BRICS as an efficient platform that brings together global power players, a place where Belarus can promote its foreign policy interests, build economic ties and grow trade.

In another development, El Salvador is reportedly studying the possibility of joining BRICS and may ask to do so in one to two years. According to the Sputnik news agency on Monday, El Salvador is interested in attracting foreign investment, primarily from the BRICS countries, as the country understands that it needs to diversify its economic ties and not to be focused only on the US and the World Bank.

"A growing number of nations seeking to join the BRICS demonstrates the effectiveness of this cooperation mechanism, which has strong appeal for developing countries," Song Wei, a professor from the School of International Relations and Diplomacy at Beijing Foreign Studies University, told the Global Times on Wednesday.

BRICS has solidified the consensus among developing countries and has emerged as a powerful advocate for the development needs of these countries. Whether it is advancing economic collaboration or advocating fairer global governance, the BRICS has consistently championed the practical interests of developing countries, Song said.

Song noted that these applicant countries, located across different continents, have experienced rapid development in recent years. In response to their growing development needs, they are looking to leverage the BRICS mechanism to unlock new opportunities for continued growth.

The BRICS is the acronym for an emerging-market cooperative mechanism that initially included Brazil, Russia, India, China and South Africa. In January, the bloc expanded its membership to include Saudi Arabia, Egypt, the United Arab Emirates, Iran, and Ethiopia. Besides, more than 30 countries, including Indonesia, Vietnam, Venezuela and Kazakhstan, have filed applications to join.

The continuous expansion of BRICS injects confidence and vitality into the development of the Global South, Song said. "For the developing countries, the path to development lies in united self-improvement and strategic alignment through economic and trade cooperation, rather than excessive reliance on support from developed nations," Song added.

Experts also highlighted the sharp contrast between the BRICS and exclusive circles driven by US-led West that draw ideological boundaries, and even implement their economic hegemony. "The BRICS model is based on expanding consensus among developing countries through equal and mutual negotiations," Song noted.

Through collaboration among developing countries, they will amplify their collective voice, ultimately contributing to the cause of fairness and equality in global governance. This collaboration will be instrumental in addressing the development needs and demands of developing countries, analysts said.

Lin Jian, a Chinese Foreign Ministry spokesperson, said at a routine press conference on Monday that the development and expansion of the BRICS mechanism reflects the trend of the times, serves the interests of relevant countries, and provides a strong driving force for multipolarity in the world and greater democracy in international relations.

"BRICS members have responded to the hope of various parties with all sincerity and advanced relevant process with pragmatic action. We welcome more like-minded partners to join BRICS cooperation and work together to make the international order more just and equitable," Lin said.

China
Source: global.chinadaily.com.cn

Malaysian Prime Minister Anwar Ibrahim announced on Sunday that Malaysia has officially applied to join the greater BRICS grouping. In late May, Thailand's Cabinet approved a draft application to join the newly expanded BRICS.

If the two key regional players in Southeast Asia and the Association of Southeast Asian Nations are accepted as members of the grouping, which accepted Saudi Arabia, the United Arab Emirates, Iran, Egypt and Ethiopia as new members earlier this year, it will have significant geopolitical ramifications, particularly in the Asia-Pacific region. Their joining the group will further enlarge the platform, giving it greater representativeness of the Global South.

The total economy of the enlarged BRICS accounts for about 60 percent of that of the G7. The strong appeal the grouping has for emerging market economies and the great potential it has demonstrated to act as a responsible representative of the Global South make it a player on world stage that no party can afford to ignore.

While some in the West tend to increasingly view the swelling BRICS as an anti-West geopolitical tool, particularly against the backdrop of the Ukraine crisis and the United States' China-containment strategy, with Russia and China being members of the organization, they simply turn a blind eye to the fact that grouping is not a military alliance like NATO but largely an economic one that operates following the principles of mutual respect, sovereign equality, inclusiveness, consensus and strengthened collaboration.

It is the organization's openness and fairness, and the shared conviction of its members that the Global South deserves its due say in global affairs and the reform of global governance that have attracted new countries that recognize that the organization can provide them with a platform for strengthened coordination and cooperation to that end.

Unlike the G7, the expanding BRICS group is not a clique pursuing narrow interests. It provides a large space for countries to uphold their strategic autonomy and calls for resolving differences through dialogue and negotiations. Only those holding a zero-sum game Cold War mentality, or those thinking the rise of the Global South threatens to touch their cheese, would try to sow discord between the members of the augmented BRICS, or seek to misinterpret any country's application to join or display of interest in being an observer in the grouping. In the face of the contest between those countries seeking to build a multipolar world and those upholding the unipolar hegemony, and the clash between economic globalization and "de-globalization" tendencies, the growing BRICS grouping follows the trend of history, stands on the side of fairness and justice, and makes the right choices.

The accession of more countries to the enlarged BRICS can accelerate the process of building a multipolar world, and promote a more just and equitable international order. The organization should always stay committed to its original aspiration of openness, inclusiveness, and win-win cooperation to elevate the practical cooperation among its members to new heights.

Apart from pooling efforts to make unique contributions to resolving world hotspot issues, the grouping, in the face of the new technology revolution, should give full play to their strengths in terms of natural resources and market size, strengthen the supporting role of financial and trade cooperation, facilitate energy and food security cooperation, promote innovation cooperation, and act as a bridge for people-to-people and cultural exchanges so as to give meat to the bones of its principles.

Those claiming the expanded BRICS is nothing more than a "symbolic" troupe will have their eyes opened as what they regard as symbolism is materialized into results through down-to-earth actions that deliver real benefits to the people.

Bulgaria
Source: moderndiplomacy.eu

The BRICS group, comprising Brazil, Russia, India, China, and South Africa, represents a significant geopolitical and economic coalition with the potential to challenge Western hegemony. As emerging economies with substantial global influence, BRICS countries are poised to reshape the global power structure, primarily dominated by Western nations, particularly the United States and the European Union.

One of the most compelling indicators of BRICS’ potential is its economic might. Combined, BRICS nations account for over 40% of the world’s population and about a quarter of the global GDP (World Bank, 2023). This economic power is not just in terms of GDP but also in their substantial natural resources, burgeoning middle classes, and increasing technological advancements. China’s rapid economic growth has already positioned it as the second-largest economy globally, with predictions suggesting it might surpass the United States within the next decade (International Monetary Fund, 2023). India is also experiencing robust economic growth, projected to become the world’s third-largest economy by 2030 (Goldman Sachs, 2023).

In addition to economic strength, BRICS countries are investing heavily in technological advancements and innovation. China and India are making significant strides in the fields of artificial intelligence, space exploration, and renewable energy. These technological advancements not only bolster their economies but also increase their geopolitical clout. The New Development Bank (NDB), established by BRICS, aims to mobilize resources for infrastructure and sustainable development projects in member countries and other emerging economies, thus offering an alternative to Western-dominated financial institutions like the World Bank and the International Monetary Fund (BRICS, 2023).

Moreover, the BRICS nations are leveraging their collective political influence to push for a more multipolar world order. They have consistently advocated for reforms in global governance structures, including the United Nations Security Council, to better reflect the current global realities. For instance, both India and Brazil are strong candidates for permanent seats on the Security Council, a change that would significantly alter the current Western-dominated setup (Stuenkel, 2020).
However, the BRICS coalition faces considerable challenges in its quest to challenge Western hegemony. One significant issue is the internal diversity and differing national interests of its member states. While China and India are rising economic powerhouses, their geopolitical rivalry, particularly over border disputes, poses a risk to BRICS’ unity (Pant, 2020). Similarly, Brazil and South Africa have their own regional priorities and economic challenges, which may not always align with the broader BRICS agenda.

Furthermore, the political and economic systems within BRICS countries vary widely, ranging from democratic governance in India and Brazil to more autocratic systems in China and Russia. These differences can lead to conflicting approaches to global issues, hindering the coalition’s ability to present a united front. Additionally, external pressures, particularly from the United States and its allies, aim to counterbalance BRICS’ influence through strategic partnerships and economic policies (Kim, 2021).

Despite these challenges, BRICS continues to grow in importance on the global stage. Its potential to challenge Western hegemony lies in its ability to leverage economic growth, technological advancements, and political influence. By addressing internal differences and presenting a cohesive strategy, BRICS can play a pivotal role in shaping a more balanced and multipolar world order.
In conclusion, the BRICS coalition embodies significant potential to challenge Western hegemony through its economic power, technological advancements, and political influence. While internal diversity and external pressures present challenges, the continued collaboration and strategic alignment among BRICS nations can lead to a more multipolar global landscape, reducing the dominance of Western powers.

USA
Source: news.bitcoin.com

Iran plans to support Russia’s initiatives on creating a BRICS single currency and expanding national currency payments within the bloc, according to Iran’s Ambassador to Moscow, Kazem Jalali. The BRICS nations (Brazil, Russia, India, China, and South Africa) are exploring the creation of a new currency to reduce reliance on the U.S. dollar and mitigate the impact of sanctions. During a meeting with Russian Presidential Adviser Anton Kobyakov, Jalali discussed Iran’s participation in the upcoming BRICS Summit in Kazan and the BRICS Business Forum in Moscow. Both nations cooperate successfully in OPEC+, Shanghai Cooperation Organization (SCO), and BRICS, with Iran’s role being crucial in stabilizing the region. The collaboration extends to various sectors including healthcare, science, and technology. As of January 1, 2024, BRICS includes ten member countries: Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates.

Pakistan
Source: wenewsenglish.pk

ISLAMABAD: Ambassador of the Islamic Republic of Iran to Pakistan Dr. Reza Amiri Moghadam has welcomed the creation of a new financial messaging system by the BRICS alliance adding that the world is increasingly getting closer to de-dollarization than ever in history.

The ambassador in a statement on social media on Monday said that the new mechanism is looking to bypass the traditional payment mechanisms.

He went on to say the creation of a new financial messaging system provides more variety for the economic activists and allows the region to reshape the global trade landscape.

The ambassador said this variety is both needed and featured by economic multilateralism.

“Pakistan’s adhesion to BRICS – as an influential regional and international player – will be another turning point to more and more strengthen BRICS,” Dr. Reza Amiri Moghadam noted.