BRICS Set to Become More Than an Economic Alliance?

Joshua Ramos

Amid greater calls for the bloc to more clearly define its purpose and position in the greater international arena, BRICS could be set to become more than just an economic alliance. Indeed, the geopolitical impact of the alliance could propel it into a far more important place amid global developments.

Former president of South Africa, Thabo Mbeki recently discussed this very idea. There, he noted that the alliance must decide what its self-imposed limits will be. Specifically, he called on the alliance to fortify what its greater purpose will be in global operations and world developments.

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BRICS Could Evolve Beyond Just Economic Purpose

For much of the year, BRICS has seen tremendous growth. Indeed, it has found an even greater voice amid the overall global landscape. Subsequently, the global power balance has shifted with the 2023 annual summit seeing the alliance expansion efforts come to fruition.

With six countries joining the fray, and with calls for evolution from the bloc, BRICS could be on its way to becoming more than just an economic alliance. Specifically, former South African president Thabo Mbeki discussed the necessity for the bloc to more clearly establish what they want to obe on a global level.

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Source: AFP

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“You have the BRICS bank [New Development Bank] that is clear. We come together as BRICS countries and put in money and there will be this bank, which must address challenges of countries in the south and a large part of it is infrastructure development,” Mbeki said.

“But what else has BRICS come together to do?” Mbeki them pondered. “I think that’s a matter BRICS need to define. Is it a common political body? Is it to address matters of peace and security in the world?” Altogether, Mbeki is correct that the purpose definition is a vitality for BRICS.

Naturally, many have already viewed the alliance through a geopolitical lens. However, the bloc has not yet leaned into those ideals. Moreover, with so many different views coming together throughout the bloc, whether or not a consistent political ideology could be reached is uncertain. Still, the definition of those parameters is incredibly important for the alliance and its future.