On the path to join BRICS, OECD

HE country hopes to become a member of the BRICS group of emerging economies at the organisation’s next summit in Russia in October, according to a foreign ministry official.

The South-East Asian nation submitted a formal request to join at a BRICS ministerial meeting a week ago, foreign ministry spokesperson Nikorndej Balankura said.

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

The BRICS group originally consisted of Brazil, Russia, India, China and South Africa. The acronym is derived from those countries’ names.

Last year the group began expanding membership, looking to challenge a Western-dominated world order, with Saudi Arabia, Iran, Ethiopia, Egypt, Argentina and the United Arab Emirates joining and more than 40 countries expressing interest.

Thailand is also looking to join the Organisation for Economic Co-operation and Development (OECD), after being invited by the Paris-based group to open accession discussions.

“We are putting together an accession roadmap, conditions and timeframe in line with OECD instruments,” said Nikorndej, adding there was no set timeline for joining the group.

“Starting the membership application now will be beneficial.

“It will help attract foreign investment, generate income and improve people’s quality of life,” he added. — Reuters

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