Thailand announces its intention to join BRICS.

On May 28, RT reported that the Thai government will soon submit an application to join the BRICS group of emerging economies . Thailand is also the first Southeast Asian country to publicly announce its plan to join BRICS.

According to Thai government spokesperson Chai Wacharonke, the Thai cabinet has approved the necessary documents to prepare for joining BRICS.

The expanded BRICS region accounts for approximately 30% of the global economy and has a population of around 3.5 billion people, equivalent to 45% of the world's total population.

In its letter expressing its intention to join BRICS, Bangkok stated that it understands the importance of a multipolar world and the increasing role of developing countries in international affairs.

The letter also stated that Thailand's vision for the future aligns with BRICS principles and that joining the group would bring numerous benefits to the country in many ways, including enhancing Bangkok's standing on the international stage and creating opportunities to participate in shaping a new world order.

Previously, BRICS had invited non-member countries wishing to join the group to attend a summit scheduled to take place at the end of October in Kazan, Russia.

Mr. Chai said that attending the BRICS summit would be an opportunity for Thailand to expedite the application process.

BRICS is a group of emerging economies with five members: Brazil, Russia, India, China, and South Africa. They account for over 40% of the global population and approximately one-quarter of the world's GDP. South Africa currently holds the BRICS presidency.

At the August 2023 summit, BRICS adopted a joint declaration, which included the admission of six new members: Argentina, Egypt, Iran, Ethiopia, Saudi Arabia, and the United Arab Emirates (UAE) from 2024.

The expanded BRICS group accounts for approximately 30% of the global economy and has a population of around 3.5 billion people, equivalent to 45% of the world's total population. This group also accounts for over 40% of the world's oil production.

According to the International Monetary Fund, BRICS currently accounts for 36% of global GDP based on purchasing power parity (PPP), compared to just over 30% for the G7. BRICS aims to surpass the G7 in global nominal GDP within the next four years.

According to vtcnews.vn

Source: https://baolaocai.vn/thai-lan-tuyen-bo-se-gia-nhap-brics-post384695.html