The BRIC group, established in 2006 by Brazil, Russia, India, and China, became BRICS with the inclusion of South Africa in 2011. This year, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates (UAE) joined BRICS, which has received membership applications from 34 more countries. Turkey has also officially applied for membership in BRICS.
Ömer Karadeniz, Chairman of the Plastic Industry Federation (PLASFED), stated that BRICS, which comprises leading countries in the world with its large population, strong industry, and rich energy resources, is rapidly advancing towards becoming an alternative power center in the global order. He said, “With the new countries it has added, BRICS is striving to create an alternative to the global finance and trade dominated by the West.”
Karadeniz indicated that the global economy and global trade have been narrowing since 2023, predicting that this process would continue for some time. He explained that BRICS is coming to the fore as an alternative in global markets. Recently, he mentioned that a new joint payment platform, a new reserve currency, and dollarization processes have been on the agenda of the union, and added, “I believe Turkey, with its geopolitical power and strong industry, will bring significant advantages to the union and provide benefits in critical areas. Our country’s strategic position at the critical intersection of Europe, North Africa, Asia, and the Middle East will increase the geopolitical importance of BRICS, strengthening its influence in those regions. Additionally, we can support member countries in this area with our strong manufacturing sector.”
“BRICS is an Opportunity for Turkish Exporters”
PLASFED President explained that if Turkey's membership in BRICS materializes, its trade volume would expand and investments would increase. He expressed that this collaboration would provide easier access to important dynamic economic markets of the world. Noting that this cooperation would also be an advantage for Turkish exporters, Karadeniz stated, “Economic partnerships with BRICS countries will offer Turkey significant advantages in international trade, financing, technology, investment, and especially in defense industry areas. Regional collaborations will break Turkey's economic dependencies, increase diversity in relations, reduce international risks, and enhance competitiveness. Especially with its expertise in infrastructure development, Turkey can play a complementary role in addressing critical infrastructure gaps in BRICS and facilitating economic ties between regions.”
Finally, Karadeniz explained that BRICS is not as institutionalized as the European Union and that it is still early for it to be an alternative to the EU in its current form. He said, “However, if we want to be a strong and effective state, I believe it would be good to sit at this table as well.”
Translated by Artificial Intelligence
