BRICS Expansion: Expanding Membership and Its Relevance in Todays World

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Javed Mehboob

The BRICS (Brazil, Russia, India, China, and South Africa) grouping, formed two decades ago, is now facing calls for expansion.

About 19 countries have expressed interest in joining the group. Here, questions arise regarding the growth of BRICS, the possibility of establishing its own currency to rival the USD, and its relevance in today's world.

However, concerns about China's influence and the need for equitable power distribution within the group might add complexity to the expansion process.

This article will explore the potential expansion of BRICS, its importance in shaping a multipolar world, and the challenges and opportunities it presents.

The Call for BRICS Expansion:

Thirteen countries formally applied while six others have inclined to join BRICS as there is a growing demand for expansion.

Countries such as Saudi Arabia, Iran, UAE, Indonesia, Bahrain, Argentina, Algeria, Egypt, and several African nations are eager to become part of the group.

In addition, from the Democratic Republic of Congo to Cuba, Bangladesh to Guinea-Bissau, there are many countries included in the “friends of BRICS”. Reported The Times of India.

However, India has raised concerns about maintaining BRICS' identity and agenda, and preventing China from hijacking the organization.

India, also emphasizes the need for a criteria-based approach to expansion to ensure the inclusion of suitable members.

Criteria-based Approach in BRICS Expansion and Indian Discontent:

India, while enthusiastic about the expansion, seeks to prevent China from hijacking the BRICS identity and agenda.

Foreign Minister S. Jaishankar emphasized the need for a criteria-based approach.

Like he said, “Pakistan should not have an easy entry”. Neither should some of China’s “yes-men”.

This cautious stance reflects the experience of the G-4 countries (India, Japan, Brazil, and Germany) in pushing for United Nations Security Council reform, where China has opposed text-based negotiations.

BRICS aspirants Argentina and Egypt, to name just two, are also members of the infamous “Coffee Club” (United for Consensus), have opposed to India’s membership in the UN Security Council.

They also get a lot of support from China. So, why should India let these countries in? Jaishankar was quoted as saying by the Times of India.

On contrary, China has always advocated for the BRICS group to be an open and inclusive mechanism and supports the process of BRICS expansion, Mao Ning, spokesperson of the Chinese Foreign Ministry, said in response to Venezuela's willingness to join the bloc.

"We welcome more like-minded partners to join the BRICS family at an early date," Mao told a regular press conference held in Beijing.

Inclusive International Order:

The expansion of BRICS aligns with the aspirations of countries seeking a greater say in the evolving global architecture.

These countries envision a multipolar, multicultural, and multi-civilizational world that is not dominated by a few hegemons.

By expanding its membership, BRICS aims to create a more inclusive international order that addresses existing fault lines in the global geopolitical, geo-economic, and financial architecture.

In last October, Chinese Foreign Ministry’s spokesperson Wang Wenbin said that BRICS leaders reached an important consensus on BRICS expansion.

They expressed support for the discussion on the standards and procedures of the expansion at the 14th BRICS Summit on June 23, 2022, and many countries expressed a desire to join BRICS cooperation.

Chinese Foreign Minister Wang Yi , noted that China will work with other BRICS members to jointly advance the expansion process so that more partners will join the family.

Similarly, Zhang Hong, a veteran macroeconomy observer was quoted by the Global Times as saying,

"The bloc's role is increasingly important for the vast developing economies, which are comparatively vulnerable to external shockwaves, especially at a time when geopolitical conflicts are flaring up, global supply chains are fragmented and the global economy has weakened."

BRICS' Role and Significance:

While BRICS may not set the world on fire, it serves as a platform for middle powers to collectively voice their interests in global affairs.

Amidst calls for reform in existing global institutions like the G7 and UN Security Council, BRICS presents itself as an alternative platform.

As a collective force, BRICS offers an alternative to the hegemony of the US and China, allowing its members to navigate between the two dominant powers.

It aims to establish a more inclusive international order that addresses existing fault lines in geopolitics, geo-economics, and the financial.

The group, representing 25% of global GDP, has become a positive and constructive force in global affairs.

BRICS members have the potential to shape market dynamics and global development.

BRICS Currency. Financial Cooperation and the New Development Bank:

The idea of a BRICS currency to rival the USD has been raised, highlighting the potential for increased financial cooperation within the group.

Financial cooperation among BRICS nations has strengthened through the establishment of the New Development Bank (NDB), also known as the "BRICS bank."

The bank was founded by Brazil, Russia, India, China and South Africa in 2014. Its purpose was to mobilize resources for infrastructure and sustainable development projects in emerging markets and developing countries.

The NDB opened in July 2015, with its headquarters in Shanghai.

The New Bank has already facilitated infrastructure and sustainable development projects.

The NDB, which supplements the current Western-dominated financial system, has expanded its membership to include countries like Bangladesh, the United Arab Emirates, Egypt, and Uruguay.

The NDB aims to diversify financing channels and methods to support the development of emerging economies and drive global economic growth.

The NDB held its 8th annual meeting in Shanghai under the theme of "Shaping a New Era for Global Development."

BRICS Enlargement Prospects and Summit in South Africa:

Several countries, as already mentioned above, including Venezuela and Saudi Arabia, have expressed interest in joining BRICS.

Brazilian President Luiz Inacio Lula da Silva supports Venezuela's membership and stated that requests from multiple countries will be debated at the upcoming BRICS summit 2023 scheduled on August 22-24, at Johannesburg, South Africa.

Discussions on standards, procedures, and the framework for admitting new members are ongoing.

With existing BRICS nations keen to maintain the group's cohesive identity and shared agenda.

Conclusion:

As calls for expansion grow louder, BRICS faces the challenge of balancing inclusion and maintaining its identity.

The potential addition of new members can enhance the group's capabilities, but a careful and criteria-based approach is necessary to prevent dominance by a single country.

BRICS continues to provide a platform for middle powers to foster cooperation, establish equitable power distribution, and address global challenges in an alternative and inclusive manner.

While facing demands for expansion, BRICS stands as a platform for middle powers to exert their collective influence in global affairs.

BRICS plays a significant role in shaping a multipolar world and offers an alternative to traditional Western-dominated institutions.

The writer has expertise in International Relations

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