The International Monetary Fund (IMF) has expressed support for the expansion of BRICS, with Julie Kozack, an IMF spokeswoman, stating that the growth of the group could be beneficial on a global scale. Kozack’s comments came in response to Türkiye’s recent formal application for BRICS membership.
TÜRKIYE FORMALLY APPLIES TO JOIN BRICS
Türkiye submitted its official application to join BRICS in early September, becoming the latest nation to seek membership. Founded in 2009 by Russia, China, India, and Brazil, BRICS welcomed South Africa in 2010 and recently expanded in 2024 to include Egypt, Iran, the United Arab Emirates, and Ethiopia.
Russian President Vladimir Putin highlighted that up to 34 nations have shown interest in cooperating with BRICS, with discussions underway on further partnerships.
IMF SUPPORTS INTERNATIONAL COOPERATION THROUGH BRICS
When asked if the IMF sees any risks in BRICS expansion, Kozack emphasized the importance of international cooperation, stating that stronger trade and investment ties between countries should be “welcomed and encouraged.” She noted that such initiatives reduce fragmentation and lower trade costs, offering potential benefits for global economic growth. Kozack also highlighted that joining BRICS is a sovereign decision for each country involved.
TÜRKIYE MAINTAINS BALANCED APPROACH TO INTERNATIONAL RELATIONS
Turkish President Recep Tayyip Erdogan has reiterated that Türkiye’s engagement with BRICS and other organizations, such as the Shanghai Cooperation Organization (SCO), is in line with its right to build international relationships. Erdogan clarified that BRICS does not serve as an alternative to Türkiye’s existing alliances, such as NATO, but as an additional platform for cooperation.
Erdogan stressed that Türkiye’s involvement in multiple international organizations, including the European Union and the Organization of Turkic States, contributes to global peace.
The upcoming BRICS summit in Kazan, Russia, set for late October, may discuss Türkiye’s membership request. Turkish President Erdogan has been invited, and Russian presidential aide Yury Ushakov confirmed that Ankara’s formal application will be considered at the event.
