Turkey’s recent application to join BRICS (Brazil, Russia, India, China, and South Africa) represents a significant shift in its foreign policy. This move, driven by economic, geopolitical, and strategic factors, aims to diversify Turkey’s international alliances and enhance its global influence.
Turkey’s economy has faced high inflation, currency depreciation, and a growing current account deficit. By joining BRICS, Turkey seeks to leverage the economic potential of this bloc, which collectively accounts for over 40% of the world’s population and approximately 23% of global GDP. Access to the BRICS New Development Bank (NDB) could provide critical financial resources for infrastructure projects and economic development. Additionally, increased trade with BRICS countries could help Turkey reduce its reliance on traditional Western partners.
Geopolitically, Turkey’s application to BRICS can be seen as a strategic move to strengthen its global position. Historically aligned with Western powers through NATO and its EU candidacy, Turkey has faced tensions with the EU and the US, prompting it to seek new alliances. Membership in BRICS could enhance Turkey’s role as a bridge between the East and the West and align with President Recep Tayyip Erdoğan’s vision of a more assertive Turkish foreign policy.
One advantage of BRICS membership for Turkey is the potential for increased investment and economic cooperation. BRICS countries have significant investment potential, and Turkey could benefit from foreign direct investment (FDI) in sectors such as energy, transportation, and technology. For example, China has already invested in Turkey’s infrastructure projects, including the Marmaray tunnel and various energy initiatives.
Additionally, BRICS membership could provide Turkey with a platform to influence global economic policies. As a member, Turkey would have a voice in shaping the agenda of the NDB and other BRICS initiatives, potentially advocating for policies aligned with its economic interests. Participation in BRICS summits would also offer Turkey high-level diplomatic engagement with other major emerging economies.
However, Turkey’s application to BRICS is not without challenges. One concern is the potential for increased geopolitical tensions with Western allies. Turkey’s pivot towards BRICS could strain its relationships with the EU and the US, particularly if it leads to closer ties with Russia and China, which have contentious relations with the West.
Economic disparities between Turkey and other BRICS members could also pose challenges. Although Turkey is a significant emerging market, its economy is smaller compared to China and India, which might limit its influence within the bloc. Additionally, Turkey’s economic issues, such as high inflation and currency volatility, could complicate its integration into BRICS’ economic framework.
Turkey’s application to join BRICS is driven by a combination of economic, geopolitical, and strategic considerations. The potential benefits include access to financial resources, increased investment, and enhanced global influence. However, risks such as potential tensions with Western allies and challenges related to economic integration and governance must be navigated. Turkey’s success in balancing its traditional alliances with new partnerships will be crucial for its BRICS membership.