WAs Russian President Vladimir Putin and Chinese Premier Li Qiang wrapped up separate meetings in Southeast Asia. This week the two BRICS countries encountered a region keen joining a group seen as a hedge against Western-led institutions.
In an interview with Chinese media while preparing to go to Malaysia, Prime Minister Anwar Ibrahim told that he intended to apply for membership of the bloc after it was expand to twice its size this year. By dragging South Asian nations into the alliance through financing and offering them international forum of their own.
Thailand — a US treaty ally — last month announced its own bid to join BRICS. Named after members Brazil, Russia, India, China and South Africa. Last week Foreign Minister Maris Sangiampongsa said that “the bloc represents a south-south cooperative framework. Which Thailand has long desired to be a part of.”
Joining BRICS is also an effort by countries seeking to mitigate the economic risks of intensifying US-China competition to straddle some of those tensions. In Southeast Asia, many nations depend economically on trade with China. While also simultaneously welcoming the security presence and investment Washington provides
However, being one of the members in BRICS is also a way of signaling increasing frustration with the US-led international order and key institutions that remain firmly in control of Western powers like World Bank and International Monetary Fund.
“Some people including myself think that we need solutions for unfairness in international financial and economic architecture,” former Malaysian Foreign Minister Saifuddin Abdullah said during an interview. “So probably BRICS would be one such kind of balancing.”
Putin’s interest in BRICS as well as Leader Xi Jinping shows how successful they have been at countering attempts by the United States’. Allies aimed at isolating them more broadly over issues such as Ukraine conflict or threats posed by Russia towards Taiwan, Philippines, South Korea and Japan.
Ukraine leader Volodymyr Zelenskyy struggled this month to convince Asian nations to back his peace summit in Switzerland earlier. This month while Putin signed a defense pact with North Korea and warned that he had the right to arm US adversaries around the world.
A club has just expanded from five members to include Iran, United Arab Emirates, Ethiopia and Egypt. This was largely propelled by China as it is trying to increase its clout on the global stage.
Another Southeast Asian nation, Indonesia, was considered an early favorite to join last year before President Joko Widodo indicated that he would not be rushed into it.
Longtime U.S. enemies
But the impetus for more BRICS members has continued despite American and European powers efforts to force countries not trade with Moscow. Such 12 countries appeared at a recent BRICS Dialogue in Russia as non-members including Cuba and Venezuela. Who have been long term foes of America but also states like Turkey, Laos, Bangladesh Sri Lanka and Kazakhstan.
Also attending was Vietnam. Which endorsed ties with Washington last year seen as pushback against Beijing’s growing sway over the region. Hanoi has been following developments within the group with “keen interest” as state broadcaster Voice of Vietnam put it last month.
According to Pham Thu Hang. Vietnam is prepare at all times for joining and actively contributing to the global and regional multilateral mechanisms.
The US was not happy about this week’s visit of Russia’s leader, but it did not stop it. This was due to the fact that “no country should give Putin a platform to promote his war of aggression” in Ukraine. Vietnam has had relations with Russia since the Cold War and Soviet era.
In their joint statement issued at the conclusion of their talks. Russia welcomed Vietnam’s participation in the dialogue earlier this month and said they would. “Continue to strengthen ties between the BRICS countries and developing countries, including Vietnam.”
No one knows how much BRICS was part of Putin’s closed-door talks in Vietnam. However, both countries agreed on enhancing defense & energy cooperation. Li Keqiang visited Malaysia as a furtherance for his trip there last year during which he signed nearly 10 agreements covering topics like marine conservation and education. Vietnam and China have been historic rivals although they have cooperated increasingly on economic matters since 2004. When diplomatic relations were establishe.
Awkward group
BRICS will host its summit in Kazan, a Russian city located in October after inviting non-member countries for this year. Hosting such an event also provides Moscow with an opportunity to demonstrate that it is not completely isolated from Western opposition against Ukraine war.
“The US doesn’t love BRICS especially with Iran and Russia as members”, says. Scot Marciel former US ambassador to Indonesia, Association of Southeast Asian Nations (ASEAN), Myanmar.
He added that as the bloc grows larger, reaching consensus on key issues becomes more difficult. “Washington probably isn’t applauding Thailand or Malaysia coming into it but I don’t think it’ll cause massive heartburn.”
A State Department official stated that Malaysia. Thailand and Vietnam have shown interest in BRICS. While adding that multilateral blocs should better adhere to United Nations Charter principles like respect for sovereignty and territorial integrity.
The possibility of joining BRICS is not only about geopolitics.
$33 billion
The members of the bloc have agreed to pool together reserves of $100bn in foreign currency that they can use during emergencies. Additionally, the group created a World Bank style institution known as New Development Bank. Which since its inception in 2015 has approved nearly $33bn in loans mainly for water, transport and other infrastructure projects. According to a report by Australia’s Lowy Institute this month, however. Official development finance fell to as low as $26bn in 2022.
Another draw to membership, Malaysia’s Saifuddin said. Is the residual negative sentiment toward institutions like the IMF pushing austerity measures sometimes blamed for compounding the economic misery caused by Asia financial crisis after late 1990s.
Washington isn’t sitting still. It has deepened security links in the region on matters such as counter-terrorism as well as with countries like. Vietnam and the Philippines that are increasingly concerned about their disputes with China over South China Sea. However, amidst growing great power competition across the board there also seems to be an acknowledgement that hedging is necessary from within the region.
Ong Keng Yong, former secretary general of the Association of Southeast Asian Nations said in an interview that,. “There are less and less room for smaller countries to make independent decisions” and ”by joining organizations such as BRICS. Nations indicate their intentions to be friends with all parties not only US and its allies.”
