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2 Southeast Asia countries Malaysia & Thailand are applying to join BRICS, an informal group currently comprising of 5 countries Brazil, Russia, India, China & South Africa.  5 countries Egypt, Ethiopia, Iran, Saudi Arabia & UAE join / are joining as members in 2024.  Read - https://lnkd.in/g_aDT_EV follow Caproasia | Driving the future of Asia 2 Southeast Asia countries Malaysia & Thailand are applying to join BRICS, an informal group currently comprising of 5 countries Brazil, Russia, India, China & South Africa.  5 countries Egypt, Ethiopia, Iran, Saudi Arabia & UAE join / are joining as members in 2024.   The first BRIC Summit was held in 2009 with 4 countries Brazil, Russia, India & China.  In 2010, South Africa joined form BRICS.  Thailand is the 2nd largest economy in Southeast Asia with $495 billion GDP & 71 million population.  Malaysia is the 5th largest economy in Southeast Asia with $407 billion GDP and 34 million population. The BRICS brings together 5 countries: Brazil, Russia, India, China and South Africa. – BRICS countries are influential members of leading international organisations and agencies, including the UN, the G20, the Non-Aligned Movement and the Group of 77. They are also members of various regional associations. The Russian Federation is a member of the Commonwealth of Independent States, the Collective Security Treaty Organisation and the Eurasian Economic Union. Russia and China are members of the Shanghai Cooperation Organisation and the Asia Pacific Economic Cooperation. Brazil is a member of the Union of South American Nations, MERCOSUR and the Community of Latin American and Caribbean States. The Republic of South Africa is a member of the African Union and the Southern African Development Community. India is a member of the South Asian Association for Regional Cooperation.

BRICS Expands to Include New African Partners South Africa has long stood as Africa’s sole representative within BRICS, the alliance comprising Brazil, Russia, India, China, and South Africa. However, at the recent BRICS summit, the alliance announced the addition of 13 new nations as partners, including three African countries, marking a significant shift in its influence and reach. BRICS has been rapidly expanding over the past two years, aiming to reshape the global economic landscape. Together, BRICS members represent 42% of the world’s population, 30% of the global landmass, and 24% of the global economy. This expansion…Read More Here https://lnkd.in/dQPr-NwR

https://lnkd.in/dwwCb_nX Why do Southeast Asian Countries Want to Join BRICS? By Melissa Conley Tyler FAIIA and Viet Dung Trinh — Analysis 18 December 2024 In October 2024, four key Southeast Asian countries became partners of BRICS, making the organisation much closer to home for Australians. So why have Thailand, Malaysia, Indonesia, and Vietnam put themselves on a path to membership? That said, each of the Southeast Asian countries that are participating in BRICS have their own distinct national goals. Malaysia, Thailand, and Indonesia may seek full membership of BRICS, while Vietnam is taking a cautious approach. For the Malaysia-Thailand-Indonesia trio, the focus is mainly on economic benefits and increased funding for improving infrastructure, particularly investments from BRICS’ New Development Bank (NDB). The NDB was founded in 2015 with a view to providing resources to BRICS member states and developing countries. Taking part in BRICS may also help these countries strategically balance in the geopolitical rivalry between Washington and Beijing and maintain their autonomy amid regional and global uncertainties. However Hanoi is still “waiting and seeing” since it does not want to put itself in a confrontational position against the US and impair relations with the US and the EU, the two largest importers of its products. Compared with other BRICS partnering states from Southeast Asia, Vietnam has a different view on this multilateral organisation which may require a longer process of internal deliberation.

What does BRICS expansion mean for Africa? The new African members of the group have come with both challenges and opportunities In January, BRICS welcomed four new members into its ranks – Egypt, Ethiopia, Iran, and the United Arab Emirates, with Saudi Arabia currently finalizing the accession process. The inclusion of two more African nations, Egypt and Ethiopia, in the group has significantly amplified their influence on the continent while giving them a global platform to shape not only regional but also international policies. Both of them are regional leaders with diversified economies and significant population, and thus their membership works both ways by providing other member countries wider access to African markets. However, along with opportunities come challenges connected to strained relations between Egypt and Ethiopia caused by a dispute rooted in the colonial past. - Together, Egypt and Ethiopia bring a wealth of experience and expertise to the BRICS group. Their inclusion has strengthened the group’s diversity and broadened its geographical reach. This has enabled BRICS to become a more representative voice for developing countries and to play a more active role in global affairs. However, their membership also comes with significant challenges, both domestically and in terms of regional dynamics. - A notable challenge that could strain BRICS cooperation is the existing tension between Egypt and Ethiopia over the Grand Ethiopian Renaissance Dam (GERD). The dam, nearing completion, is allegedly feared to reduce water flow to Egypt and Sudan. However, with 90% of the GERD completed, energy production in Ethiopia has commenced, and Egypt’s water supply has not (yet) been impacted by the reservoir’s quick filling thanks to a string of exceptional wet seasons. While the Nile Agreement historically gave Egypt and Sudan control over the river’s waters, Ethiopia has refused to be bound by the treaty. https://lnkd.in/gbshP94g

#Indonesia and #Thailand are bidding to become the first Southeast Asian countries to join the OECD - OCDE. Here's what to know. https://lnkd.in/ef6hVGTG

Indonesia and Thailand's recent initiatives to join the Organisation for Economic Cooperation and Development (OECD) mark a transformative moment not only for these nations but also for the broader Southeast Asian region. As they aim to become the first members from Southeast Asia, this move represents a profound shift toward integrating global standards and enhancing governance across critical domains from environmental policies to economic transparency. The OECD, known for fostering policies that elevate the socio-economic conditions globally, offers a platform where rigorous standards and best practices are not just encouraged but expected. For Indonesia, particularly, this bid for OECD membership underscores a strategic pursuit to align with international benchmarks, potentially unlocking substantial foreign investments and economic opportunities. Such alignment is crucial for sectors like tourism, where significant capital injections are required to elevate infrastructure, sustainability practices, and service quality to global standards. The Indonesian tourism industry, vital for the country’s economic expansion, stands to gain immensely from the heightened investor confidence and policy improvements that typically follow OECD integration. This accession could catalyze a new era of growth and development, setting a precedent for governance and economic management that could propel Indonesia towards a more robust and sustainable economic future.

The opening of accession talks with #Indonesia and #Thailand for OECD membership is a remarkable moment in the history of this organization. In this context, I cannot help but reflect on the phenomenal work of our team in deepening this partnership with South-East Asia: The #OECD #Global Relations and Cooperation (GRC) Directorate's South and South-East Asia Division (SASEA). The South-East Asia Regional Programme (SEARP) is the flagship programme of our team. Launched in 2014, SEARP has made great strides in strengthening the cooperation between the OECD and South-East Asia. By supporting domestic reform priorities, providing a platform for the sharing of best practices, and mutual dialogue in areas such as #SustainableGrowth, #Investment, #Education, and #SustainableInfrastructure, the OECD is proving to be a formidable partner for the region's growth. Indeed, the opening of the accession talks with #Thailand and #Indonesia is a major success for the SEARP Programme. Closer partnership with countries in the region, in line with the OECD's Strategic Framework for the Indo-Pacific, would lead to further mutual gains for all sides involved. It has endless possibilities. In the days ahead, deepening the decades-long cooperation with the "Key Partners" such as #India could provide further avenues for working together as equal partners in achieving "Better policies for better lives". To learn more about the OECD's South-East Asia Programme (SEARP), please refer to: https://lnkd.in/ezBzyXrk

BRICS membership helps UAE’s economy become stronger — minister Abdulla Bin Touq Al Marri also noted that BRICS contributes to the development of global cooperation TOKYO, December 23/ The BRICS membership helps the United Arab Emirates (UAE) to become stronger and expand ties with the world’s largest economies, the country’s minister of economy Abdulla Bin Touq Al Marri said. "The UAE has always been a place where the economy has built on the strengths and ties of major economies. The inclusion in BRICS brings the UAE strength, as well as ties with major economies such as China, India," Al Marri said in an interview with Japan’s Nikkei Asia. He also noted that BRICS contributes to the development of global cooperation. "The world needs more dialogue and conversation, and the BRICS bring that as well," the minister said. Russia chairs the BRICS alliance in 2024. The BRICS summit in Kazan on October 22-24 became the central event of Russia’s presidency. Brazil will take over the BRICS’ year-long presidency on January 1, 2025. Established in 2006, the BRIC group was made up of Brazil, Russia, India and China. In 2011, South Africa joined the group, adding the "S" to the acronym. Now it has ten members after six new countries, including Argentina, were invited to join the association in August 2023, but Argentina refused to join BRICS in late December, while the other five nations, namely Egypt, Iran, the United Arab Emirates, Saudi Arabia, and Ethiopia, became full-fledged members of BRICS from January 1, 2024. #business #finance #financialservices

#News - As Canada seeks to deepen its ties with Southeast Asia, Ottawa is confronted by a region that is divided between the rival superpowers: China and the United States. According to the State of Southeast Asia 2024 survey, compiled by the ISEAS-Yusof Ishak Institute, 50.5% of respondents opted for China and 49.5% preferred the U.S. if ASEAN had to pick sides, marking the first time Beijing edged past Washington since the annual survey started asking the question in 2020. https://lnkd.in/datwR2uM

📢 News Today - October 24, 2024 🌍 Expanded BRICS Summit and Vietnam’s Role BRICS Expansion and Economic Cooperation The 16th BRICS Summit (22-24 October 2024) in Kazan, Russia, focused on expanding BRICS' global influence and promoting equitable development. The summit welcomed five new members: Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE, marking a significant enlargement of the group. Leaders discussed key areas such as cross-border payment systems, infrastructure projects, and enhancing digital economy cooperation. One of the key outcomes was the commitment to increasing the group's economic and political influence, particularly in contrast to Western-dominated frameworks Vietnam’s Engagement at the BRICS+ Summit Vietnam, represented by Prime Minister Pham Minh Chinh, took part in the BRICS+ segment. The Prime Minister emphasized Vietnam’s support for multilateralism and cooperation within BRICS frameworks. Vietnam’s participation highlights its growing role in regional and global trade dynamics, especially as BRICS seeks to expand cooperation beyond its core members. Vietnam’s position as a dynamic exporter makes it a key player in the discussions on trade, technology, and infrastructure partnerships. .📊 Insight: Vietnamese businesses should look to leverage opportunities from BRICS expansion, particularly in the areas of digital economy, cross-border payments, and infrastructure projects. This is an excellent chance to build stronger ties with BRICS+ countries, enhancing Vietnam’s role in global supply chains. ➡️ Learn how EximGPT helps businesses navigate global trade challenges. Visit www.eximgpt.com. 📞 Contact us: 🌐 www.eximgpt.com 📧 support@eximgpt.com 📞 +84 903192669 #BRICSSummit #VietnamBRICS #MultilateralTrade #EximGPT