Home News Thailand Seeks Membership In BRICS, Eyes OECD Accession
NewsWorld

Thailand Seeks Membership In BRICS, Eyes OECD Accession

355
Thailand is making a concerted effort to join the BRICS
Thailand Flag

Thailand is set to join the BRICS group of emerging economies, with hopes of becoming a member at the organisation’s next summit in Russia this October.

The Southeast Asian nation reportedly submitted a formal request at a BRICS ministerial meeting last week, according to Foreign Ministry spokesperson, Nikorndej Balankura.

“We hope to receive positive feedback and be accepted as a BRICS member as soon as the next summit to be held in Russia,” Balankura stated.

The BRICS group, originally consisting of Brazil, Russia, India, China, and South Africa, derives its acronym from the names of these countries. Last year, the group expanded its membership to challenge a Western-dominated world order.

New members include Saudi Arabia, Iran, Ethiopia, Egypt, Argentina, and the United Arab Emirates, with more than 40 countries expressing interest in joining.

In addition to its BRICS aspirations, Thailand is also seeking to join the Organisation for Economic Co-operation and Development (OECD).

The Paris-based group has invited Thailand to begin accession discussions.

“We are putting together an accession roadmap, conditions, and timeframe in line with OECD instruments,” said Balankura, noting that there is no set timeline for joining the organisation.

He emphasised that starting the membership application process now will benefit Thailand. “It will help attract foreign investment, generate income, and improve people’s quality of life,” he added.

 

REUTERS

Read more: Outrage As Kenya Police Shoots Protester, Rex Kanyike During Anti-Finance Bill Protest

About The Author

Related Articles

CSS Algeria
NewsSecurity

Algeria Closes Airspace to Mali, Rejects Accusations of Jeopadising Malian Counterterrorism Efforts in Drone Incident

The escalation of diplomatic tensions between the Algerian government and Mali has...

NewsSecurity

Malian Govt. Summons Algerian Ambassador After Drone Destruction Incident

Tension has continued between Mali and Algeria after the Malian government accused...

United States cancelled South Sudanese visas
World

Impact Of The U.S. Tariff Regime On Africa

The U.S. Tariff Regime under President Donald Trump has imposed significant tariffs...

FinanceNews

Naira Hits New Low, Trades Above ₦1,610/$1 Despite CBN Dollar Sales

The Nigerian naira dropped to a new low on Monday, surpassing ₦1,610...