BRICS will not benefit from Turkey’s accession

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Turkey had previously expressed the intention to join the various economic unions, where there is Russia. Therefore, Erdogan’s request to join the BRICS is quite natural. However, membership in the BRICS, Turkey will benefit much more than the BRICS from Turkey.
In the case of joining Istanbul would be able to more intensively work with Moscow to strengthen economic ties, and to qualify for the development of investment projects under the funding from the development Bank, which was created by member countries of BRICS.
In turn, Turkey has little to offer the BRICS. The country’s economy by PPP is at the 13th place, moreover, among the enterprises already have the underdog South Africa, from 30-th place in PPP economy in the world.
Also Turkey has difficult relations with the United States and the coalition, so the entry may worsen relations within the BRICS bloc with the United States. In turn, the BRICS stated that “the Union is not aimed at opposition or confrontation with other economic and political alliances.”
Ivan Kapustyasky,
Senior analyst,
Forex Optimum