Thailand “Partnership Partner” BRICS

Thailand is one of 13 “partnership partners” of “Brookery of Large emerging market countries” (BRICS) after signing a letter of intent to join on 13 June 2024 and at a Conference BRICS Plus 2024 on 22-24 October 2024 in Kazan, Russia decided to welcome Thailand and 12 other countries.

Including Malaysia, Indonesia, Vietnam, Algeria, Belarus, Bolivia, Cuba, Kazakhstan, Nigeria, Turkey, Uganda and Uzbekistan.

BRICS was established in 2009 with 4 founding members: Brazil, Russia, India and China, using the name BRIC, but later in 2010 South Africa was added. and changed its name to BRICS Then, at the beginning of 24, it got 5 more new members: Egypt, Ethiopia, Iran, Saudi Arabia. and the United Arab Emirates

making BRICS now an important group in terms of economic size, population size, trade, and ownership of the world’s energy resources.

It is considered to be good news for Thailand. And it shows the situation of balancing the powers of different countries!!

After 2022, Thailand joined as a partner. The “Indo-Pacific Economic Cooperation Framework” or IPEF, which was initiated by the United States, has 14 member countries, such as Japan, Australia, South Korea, New Zealand, etc.

and there he sent a letter of intent to become a member of the “Organization for Economic Co-operation and Development” or OECD, established by Western European countries. Currently there are 38 member countries, most of which are developed countries. and they have a high income

Said “Trade Policy and Strategy Office” or Trade Policy and Strategy Office although it is a partnership It is not yet a full member But Thailand will get more opportunities for cooperation.

including trade, investment, infrastructure development and political climate

But there are limitations unlike full members, including voting rights in determining the direction of economic and financial policy and access to aid from the emergency reserve fund. and expanding alliances

Thailand will also benefit from having a wider trading market. Help create trade and investment opportunities, attract investors from BRICS into Thailand, which will help stimulate the economy. and employment

At the same time, it also helps to increase Thailand’s place on the international stage. From the point of view of “neutrality” and “pursuit of peace,” it helps to strengthen cooperation with developing countries. which has the potential to participate in the economy and politics of the future It also helps to increase the role of Thailand in determining the direction of international economic policy.

It is hoped that a “neutral” attitude will allow Thailand to flee from danger. And the economy will grow by leaps and bounds, not a “grass prairie” that is crushed in the midst of the superpowers’ fight!!

funny S