Bloomberg: Turkey formally applied to join BRICS

Turkey has formally applied to join the leading emerging markets organization, BRICS, according to Bloomberg, as it seeks to boost its global influence and forge new ties beyond its traditional Western allies, according to people following the matter.

Same sources said Erdogan’s government believes the geopolitical center of gravity is shifting away from developed economies and the move reflects the country’s ambitions to cultivate ties “with all sides in a multipolar world” while still fulfilling its obligations as a key NATO member.

In early July, during a visit to China, Turkish Foreign Minister Hakan Fidan expressed his country’s desire to join BRICS. The Russian president’s spokesman Dmitry Peskov had welcomed this “increased interest in the BRICS organization.”

“Turkey can become a strong, prosperous, prestigious and effective country if it improves its relations with the East and the West at the same time,” Erdogan said in Constantinople at the weekend. “Any other method than this will not benefit Turkey, but will harm it.”

The BRICS, named after the initials of Brazil, Russia, India, China and South Africa, includes some of the largest emerging economies. Earlier this year it gained four new members when Iran, the United Arab Emirates, Ethiopia and Egypt joined its ranks. Saudi Arabia was also invited to join, although the kingdom has yet to do so.

Further expansion of the group could be discussed during a summit in Kazan, Russia, from October 22 to 24, the sources said. Malaysia, Thailand and Turkey’s close ally Azerbaijan are among other countries keen to join.

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