‘Spook the West’: Turkey’s bid for BRICS both a strategic and symbolic step, analysts say – DOC Finance – your daily dose of finance.

‘Spook the West’: Turkey’s bid for BRICS both a strategic and symbolic step, analysts say

Turkey’s aspiration to become a member of the BRICS alliance is viewed as a strategic and symbolic move, reflecting the country’s growing influence and leverage on the global stage. The Eurasian nation, with a population of 85 million, has expressed its interest in joining BRICS, a group comprising Brazil, Russia, India, China, and South Africa, aimed at strengthening economic ties among emerging market countries. This year, BRICS welcomed four new members: Iran, Egypt, Ethiopia, and the UAE.

Seen as a counterbalance to Western-led organizations like the EU, G7, and NATO, BRICS lacks a formal structure, enforcement mechanisms, and uniform rules. For Turkey, a long-standing Western ally and NATO member, seeking BRICS membership aligns with its goal of establishing itself as an independent player in a multi-polar world. While not turning away from the West entirely, Turkey aims to diversify its trading relationships and pursue opportunities autonomously.

Despite its historical alignment with Europe and the U.S., Turkey has faced repeated rejection from the EU, prompting its exploration of alternative alliances. The country’s recent diplomatic efforts include brokering deals and improving relations with regional powers like Saudi Arabia, the UAE, and Egypt. Turkey’s stance on sanctions against Russia has strained ties with Western allies but solidified its position as a “middle power.”

Joining BRICS offers Turkey the opportunity to trade in currencies other than the dollar, reducing reliance on the U.S.-led financial system and promoting a more multi-polar world. The leadership of China within BRICS has raised concerns in the West, viewing it as a potential advantage for Beijing. The alliance is perceived as a symbolic counter to the G7, with no formal enforcement of decisions.

Turkish President Recep Tayyip Erdogan’s interest in joining BRICS dates back to 2018, with recent efforts to formalize the request. During a BRICS+ summit in Russia, President Vladimir Putin welcomed Turkey’s interest in joining the group. While some in the West are wary of Turkey’s potential BRICS membership, it is not expected to significantly impact its alignment with Western nations.