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Economic gain or crooked accounts await Turkey in BRICS

Recep Erdogan, who has been in power for more than two decades, is trying to build a more independent Turkish foreign policy and strengthen its global influence

Sep 7, 2024 10:02 326

Economic gain or crooked accounts await Turkey in BRICS  - 1
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Turkey, whose path to the European Union seems permanently deadlocked, is looking for future partnerships and alliances of interests, and the BRICS group of emerging market economies offers it new opportunities for economic cooperation. A Kremlin official confirmed that the country has submitted a formal application to join the organization, and according to Bloomberg sources, BRICS expansion will be discussed at a meeting in October in Kazan, Russia. Behind Ankara's intentions to join BRICS is a desire to take advantage of the group's economic potential, analysts agree, but some wonder if these calculations will not turn out to be crooked.

What is the opinion of the USA and the EU?

The United States and the European Union reacted with restraint to the information that Turkey plans to become a member of BRICS, recognizing its right to make its own choice with which countries and alliances to cooperate.

"The United States believes that all countries can choose for themselves the countries and groups with which to establish relations," State Department spokesman Matthew Miller said in response to a question from the Turkish section of the "Voice of America" about Turkey's plans to become a member of BRICS, reported the Turkish television TGRT.

At the same time, Miller emphasized the importance of Turkey as "an important ally that the US works with on a variety of issues".

The European Union, through spokesman Peter Stano, also previously commented on the reports, saying that Turkey remains a candidate for EU membership, but added that this status also carries "certain limitations".

"Turkey, like any other country, has the right to judge what is best for it in matters of cooperation,", Stano said in response to questions related to Turkey's intention to enter the BRICS group.

Specifically on the issue of EU-Turkey relations, he stated that "Turkey remains a candidate for membership", which, as he noted, "poses some limitations".

"There is a customs union between the EU and Turkey, we have very good trade relations, from which the Turkish side benefits greatly," the spokesman pointed out. "We expect all countries seeking to join the EU to uphold European values and respect their obligations under concluded trade agreements, as well as the EU's foreign and defense policy. BRICS and the EU are completely different organizations in terms of goals, structure and organization," Stano added.

Crucial BRICS meeting in October

Yuri Ushakov, Russian President Vladimir Putin's foreign affairs adviser, told reporters yesterday that Turkey has submitted an application "for full membership" in the bloc that Russia presides over this year, and that her request will be considered.

Turkish President Recep Tayyip Erdogan will participate in the BRICS summit in Kazan on October 20-24, sources from the Turkish presidency said, quoted by Turkish media. The spokesman for Turkey's ruling Justice and Development Party (AKP), Yomer Çelik, however, refrained from giving specific information, saying: "If there is a specific development, we will share it.

The BRICS organization was founded in 2006 by Brazil, Russia, India and China, and South Africa joined in 2010. It has recently undergone expansion and now also includes Iran, Egypt, Ethiopia and the United Arab Emirates. Saudi Arabia has said it is considering joining, and Azerbaijan and Malaysia have already formally submitted applications.

BRICS has declared its goal to give a stronger voice to major emerging economies to counter the Western world order. Its founders called for a fairer world order and for reforming international institutions such as the United Nations, the International Monetary Fund and the World Bank, AP notes.

Why BRICS?

Erdogan, who has been in power for more than two decades, has been trying to build a more independent foreign policy for Turkey and increase its global influence. The country is also dissatisfied with the lack of progress in the negotiations for its membership in the European Union.

With its BRICS membership, Turkey seeks to strengthen its economic cooperation with countries such as Russia and China and become a trade bridge between the EU and Asia. At the same time, however, Ankara does not want to completely break away from the West, noted Bloomberg.

In an interview with the magazine "Newsweek" some time ago Erdogan said that he did not see a problem in the cooperation of NATO member Turkey with the countries of the Shanghai Cooperation Organization (SCO) and BRICS. In his words, "these relations contribute to world peace", and Turkey is "in a unique position", as it manages to remain a reliable partner within the framework of cooperation with all organizations.

Analysts' Opinion

Turkey's increased interest in the BRICS organization is due to its desire to be part of the growing economic potential of the organization, which offers new opportunities for cooperation and development, according to Turkish analysts quoted by the Xinhua news agency.

"BRICS is likely to dominate the world economy in the coming decades, and Turkey wants to be part of the huge opportunities that the bloc provides in a multipolar world," Ali Oguz Diriyez, who teaches international relations at the University of economy and technology TOBB in Ankara.

Serkan Demirtaş, an Ankara-based foreign policy analyst and journalist, shares the view that behind Turkey's interest in BRICS is "economically oriented diplomacy that does not want to miss out on the growing economic power of Asia in particular.

However, not all Turkish analysts are of the opinion that joining BRICS will be beneficial for Turkey.

"We are moving from the neighborhood of the rich to the poor neighborhood," commented the journalist Fatih Altayl. "On top of that, not to those who buy from us, but to those who sell to us. It is certain that Turkey will not be the one to benefit from this. The Western world will benefit from this," he pointed out.

In his article, cited by the T24 news site, Altayla analyzed the relations with the BRICS countries from the point of view of the economy, calculating that Turkey is shifting "from a world with an average per capita income of over 50 thousand dollars to another bloc with an average per capita income of $10,000".

According to the author, Turkey has a serious foreign trade deficit with both Russia and China, and in general its deficit in trade with the BRICS countries is worth approximately 97 billion dollars.