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CEOWORLD magazine - Latest - Banking and Finance - Thailand Aims for BRICS Membership to Boost Economic and Strategic Ties

Banking and FinanceSpecial Reports

Thailand Aims for BRICS Membership to Boost Economic and Strategic Ties

Thailand has expressed its intention to join the BRICS group, which was originally founded by Brazil, Russia, India, China, and South Africa. The group recently expanded, adding Saudi Arabia, Egypt, the United Arab Emirates, Iran, and Ethiopia to its ranks. This year, Russia, the host of the BRICS summit, extended an invitation to Thailand to participate in the event scheduled for October, a move seen by the Thai government as a potential stepping stone toward full membership.

In an interview with CGTN correspondent Dusita Saokaew, Thailand’s Deputy Prime Minister, Anutin Charnvirakul, discussed the country’s aspirations for joining BRICS and the potential benefits it could offer. Saokaew noted that Thailand is not yet an official member of the group, but the government has been actively pursuing its bid to become one. She asked why Thailand is seeking BRICS membership and what advantages the country hopes to gain.

Charnvirakul explained that economic and political partnerships can offer mutual advantages, particularly when grounded in mutual understanding and strong relationships. He highlighted that Thailand could contribute significantly to BRICS, especially in areas such as economics, trade, digital innovation, and alternative energy. Moreover, he emphasized that collaboration within BRICS could aid in promoting sustainable development.

He also underscored Thailand’s strategic location at the heart of Southeast Asia, positioning the country as a gateway to the ASEAN market, which boasts over 600 million people. As one of the world’s major food producers, Thailand could play a pivotal role in addressing food security, aligning with the country’s vision to become the “kitchen of the world.” Charnvirakul pointed to Thailand’s vibrant tourism industry as another sector that could foster collaboration, noting that both BRICS countries and Thailand offer unique and exotic experiences to visitors.

Furthermore, Charnvirakul suggested that Thailand could act as a bridge between BRICS and the ASEAN region, creating extensive economic opportunities, especially given China’s prominent role within BRICS. He expressed confidence that Thailand’s journey with the BRICS group would progress smoothly beyond the upcoming summit.

GDP (nominal)CapitalHead of StateHead of GovernmentGDP (nominal) per capitaGDP (PPP)GDP (PPP)GDP (PPP) per capita
ThailandBangkokMaha VajiralongkornSrettha Thavisin512.1937.2981.578.45222.491

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CEOWORLD magazine - Latest - Banking and Finance - Thailand Aims for BRICS Membership to Boost Economic and Strategic Ties
Anna Siampani
Anna Siampani, Lifestyle Editorial Director at the CEOWORLD magazine, working with reporters covering the luxury travel, high-end fashion, hospitality, and lifestyle industries. As lifestyle editorial director, Anna oversees CEOWORLD magazine's daily digital editorial operations, editing and writing features, essays, news, and other content, in addition to editing the magazine's cover stories, astrology pages, and more. You can reach Anna by mail at anna@ceoworld.biz