What is BRICS? Is Turkey a member of BRICS? Who are the permanent members of BRICS?

BRICS is a platform consisting of countries that have come together to create a significant economic and political power on a global scale.

WHAT IS BRICS?

BRICS was established in 2009 with the union of Brazil, Russia, India, China, and South Africa. These countries draw attention with their developing economies and increasing global influence. While BRICS constitutes an important part of the world economy, it also encourages cooperation on international politics and security issues.

WHICH COUNTRIES ARE IN BRICS?

Brazil

Russia

India

China

South Africa

These five countries are considered the permanent members of BRICS. BRICS aims to increase economic growth, improve trade and investment opportunities, encourage international cooperation, and adopt an approach based on the principles of multilateralism.

It aims to give developing countries more say in international affairs and to create an alternative to the West's dominance over the global financial system.

China and Russia, which remain outside the Western bloc, were in search of a model with which they could form an economic alliance. In this context, the "BRIC" group was formed in 2006 with the participation of Brazil, Russia, India, and China. With the addition of South Africa to the group in 2010, this formation took the name "BRICS".

BRICS is known as the "alliance of developing countries." The group aims for developing economies to have more say in international politics.

WHAT IS THE PURPOSE OF THE GROUP?

The purpose of the group was to bring together the world's most important developing countries to create a challenge to the political and economic power of the wealthier countries in the West. Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates (UAE) were invited to join BRICS as of January 1, 2024.

BRICS members take turns holding the presidency for one year. Argentina was also invited to the group; however, shortly after taking office, President Javier Milei decided to withdraw his country's membership in December 2023.

BRICS members make decisions on important issues such as the admission of new members, the structure of the union, and the economic relations of member countries at the 'annual summit' held each year. Leading politicians in Brazil and Russia have proposed the creation of a BRICS currency to reduce the dominance of the dollar; however, this issue was not discussed at the group's 2023 summit.

HOW MANY MEMBERS DOES IT HAVE?

The total population of the member countries of the group is approximately 3.5 billion. This figure corresponds to 45% of the world's population.

The total value of the member countries' economies exceeds 28.5 trillion dollars. This means approximately 28% of the global economy.

IS TURKEY A MEMBER OF BRICS?

BRICS countries, which include oil giants such as Iran, Saudi Arabia, and the United Arab Emirates, produce approximately 44% of the world's crude oil production. BRICS opposes the dominance of Western countries over important global institutions such as the International Monetary Fund (IMF) and the World Bank (WB). The group demands that developing economies gain more say and representation.

Turkey is among the countries that have applied to join BRICS this year. Turkey's BRICS membership will be accepted if it receives the approval of all permanent members. However, there are some obstacles to Turkey's membership. For example, BRICS member India may not approve the membership due to Turkey's close relations with Pakistan.

On the other hand, Russian Foreign Minister Sergey Lavrov stated in an interview with the state news agency TASS that Russia views Turkey's BRICS candidacy positively. This situation may increase Turkey's chances of being in BRICS, but the views of other members will be decisive for final approval.