Bloomberg: Turkey has applied to join BRICS... An alternative to 'Western hegemony'

Sources speaking to Bloomberg said that Turkey has formally applied to become a member of BRICS. According to people familiar with the matter, Turkey has officially requested to join the BRICS group of emerging market nations in an effort to increase its global influence and build new ties beyond its traditional Western allies. According to the people who spoke to Bloomberg on the condition of anonymity, the view of President Recep Tayyip Erdoğan's administration is that the geopolitical center of gravity is shifting away from developed economies. 

Officials said the country's new diplomatic push reflects its desire to improve relations with all parties in a multipolar world while fulfilling its obligations as a key member of the North Atlantic Treaty Organization (NATO). They added that Turkey, which connects Europe and Asia, submitted its application to join BRICS a few months ago due to frustration over the lack of progress in its decades-long bid to join the European Union. They also noted that this application is partly a result of disagreements with other NATO members following Turkey's close relations with Russia after its invasion of Ukraine in 2022.

In a statement in Istanbul over the weekend, Erdoğan said, "Turkey can become a strong, prosperous, and effective country if it improves its relations with the East and the West simultaneously. Any method other than this will bring harm, not benefit, to Turkey."

SAUDI ARABIA ALSO INVITED TO THE BLOC

The BRICS group, named after Brazil, Russia, India, China, and South Africa, includes some of the largest emerging economies. It gained four new members earlier this year with the accession of Iran, the United Arab Emirates, Ethiopia, and Egypt. Saudi Arabia has also been invited to join the bloc but has not yet done so.

It is stated that further expansion of the group could be discussed at a summit to be held in Kazan, Russia, on October 22-24. Malaysia, Thailand, and Turkey's close ally Azerbaijan are among the other countries that want to join the group.

AN ALTERNATIVE TO 'WESTERN-DOMINATED' INSTITUTIONS

BRICS presents itself as an alternative to Western-dominated institutions such as the World Bank and the International Monetary Fund for its members. New members could potentially gain access to financing through its development bank and expand their political and trade relations.

The expansion of BRICS is largely driven by China, which is trying to increase its global influence by courting countries that are traditionally allied with the US. Turkey has been in negotiations to join the EU since 2005 but has faced a series of obstacles, including what the bloc describes as the country's democratic shortcomings. Turkey believes that joining BRICS could help the country improve economic cooperation with Russia and China and become a trade conduit between the EU and Asia. It is noted that Turkey wants to become a hub for gas exports from Russia and Central Asia.

News Source: 12punto