While several countries are showing interest in BRICS+, many seem to prefer partner status rather than full membership as they feel that full membership may impact their relations with the US. This highlights the complexities of the current economic landscape and the evolving global geopolitical situation.
Several countries are beginning to show interest in BRICS+ and are keen to tap into the economic opportunities it offers by entering the organisation – either as full members or partner countries. The 11-member organization now accounts for nearly 50% of global population and 40% of global GDP.
While there is not an iota of doubt, that Intra-BRICS trade has increased significantly over the past two decades (between 2003-2024), it is nowhere near it’s actual potential and accounts for only 5% of global trade.
Excessive dependence of BRICS+ on India and China?
It would be pertinent to point out that Jim O Neill, who coined the acronym BRIC 25 years ago, believes that India and China, which have grown significantly over the past two decades, have emerged as important players on the global stage and that BRICS has become “utterly dependent” upon both these Asian nations. O’Neill, who is currently a member of the UK House of Lords, then served as Chief Economist of Goldman Sachs.
O Neill’s observation is significant, because many observers feel that the uncertain relationship between India and China is a significant impediment to significant progress within BRICS, though in the past two years some steps have been taken to normalise relations between the two countries. Important steps amongst them are the resumption of air connectivity between both countries, revision of FDI rules which had imposed restrictions on Chinese investment and above all several meetings between senior officials of both countries. PM Narendra Modi’s visit to Tianjin (China) in connection with the Shanghai Cooperation Organisation (SCO Summit) in 2025 and Xi Jinping’s India visit to attend the 18th BRICS Summit, held at New Delhi, in October 2026 are also a strong reiteration of improvement in ties. China has also reiterated its support for India’s BRICS Presidency (While India holds the Chairmanship of BRICS in 2026, China will take over in 2027).
Several countries showing interest in entering BRICS+
In a fast changing economic and geopolitical environment, countries are trying to diversify their economic relations. Several countries are showing interest in entering BRICS. More than 30 countries have applied for full membership of the organisation.
While seeking to benefit from the opportunities which BRICS offers several countries do not want to get embroiled in any geopolitical tussle. As a result, many countries are opting for partner status rather than full membership of BRICS. Current partner countries are: Belarus, Bolivia, Cuba, Kazakhstan, Malaysia, Nigeria, Thailand, Uganda, Uzbekistan and Vietnam.
One of the reasons for countries adopting a measured approach vis-à-vis BRICS is the Trump administration’s stance on the organisation and trade in local currencies – which the US views as a step towards weakening the US Dollar. US President Donald Trump has been critical of the BRICS Organisation and warned its members against efforts to undermine the US Dollar via de-dollarisation. BRICS has categorically distanced itself from the concept of a BRICS common currency, while several steps for pushing trade in local currencies are being discussed.
The New Delhi declaration, adopted at the end of the BRICS Summit, while commenting on trade in local currencies stated, “We acknowledge the work done to study the cross-border interoperability of payment and messaging channels, and the discussions on promoting trade settlements and investments using BRICS local currencies, while respecting national priorities and acknowledging that there is no one-size-fits-all approach”.
Here it would be pertinent to point out, that the key propelling factors for growing trade in local currencies are, first, the desire of several countries to reduce their dependence upon the US dollar in a changing economic order and second, the need to circumvent the impact of financial sanctions.
Reasons for countries being more interested in partner status of BRICS+
Two important examples of how countries are trying to leverage partner status of BRICS rather than applying for full membership of the organisation are the examples of Vietnam and Ghana.
Vietnam has stated on more than one occasion, that it is keen to benefit from its partner status of BRICS. The ASEAN country has not applied for membership of BRICS.
Vietnamese Prime Minister Le Minh Hung while speaking at the 18th BRICS Summit said: “..We stand ready to work together with BRICS in the spirit of responsibility, goodwill and substantive cooperation to build a future of peace, prosperity, sustainable and inclusive development for all countries and people”. The Vietnamese PM also emphasized that Vietnam’s development priorities were in sync with the overall thrust of BRICS+.
While Ghana’s cabinet gave a go ahead for applying for BRICS membership on October 6, 2026, the African nation has clarified that it is currently applying for partner status. A section of Ghanaian policy makers and analysts had recommended that Ghana should apply for partner status of BRICS as several other countries have done. For now the African nation has applied for partner status of BRICS+.
Ghana’s President John Dramani Mahama said: “Ghana’s decision to apply for partnership with the BRICS countries reflects our determination to broaden our development partnerships and deepen South-South cooperation,” He also clarified that Ghana’s entry into BRICS would not come at the expense of Ghana’s existing economic and diplomatic relationships.
In conclusion, the BRICS as an organisation has an important role to play in articulating issues related to the Global South. While several countries are showing interest in BRICS+, many seem to prefer partner status rather than full membership as they feel that full membership may impact their relations with the US. This highlights the complexities of the current economic landscape and the evolving global geopolitical situation. It remains to be seen if the BRICS organisation can translate this growing interest into deeper economic cooperation and a stronger collective voice for the Global South or not.
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