North Korea’s interest in joining the BRICS alliance has sparked international discussion. Their strategic manoeuvres hint at a significant shift in diplomatic focus.
As the BRICS summit approaches, the possibility of North Korea becoming a member raises questions and curiosity globally.
Exploring North Korea’s Aspirations for BRICS
With the potential expansion of the BRICS bloc gaining momentum, North Korea has shown a renewed interest in becoming part of this influential alliance. Recent reports suggest that the country’s leadership is strategically positioning itself to join by 2024.
This interest was further highlighted when North Korean representatives skipped a crucial United Nations General Assembly. Instead, they attended a BRICS event, which experts interpret as a clear indication of their ambitions to become the alliance’s 10th member.
As the annual BRICS summit approaches, there is anticipation for major announcements, including the potential inclusion of new members. Amid these developments, North Korea’s participation remains a topic of keen interest and speculation.
The Significance of BRICS Expansion
In 2023, BRICS extended invitations to six nations, marking its first expansion since 2001. Of these, only four countries—United Arab Emirates, Egypt, Iran, and Ethiopia—accepted the offer, increasing the alliance to nine members.
The interest in joining BRICS is vast, with over 30 countries expressing their desire to be part of the bloc. Turkey, Venezuela, Nigeria, and now North Korea are notable among those keen to join.
Despite this interest, experts remain sceptical about North Korea’s chances. The alliance’s rigid requirement for unanimous member approval poses significant challenges for the hermit kingdom’s application.
North Korea’s Strategic Moves
North Korea has been actively pursuing strategic partnerships to bolster its bid. Earlier this year, the country intensified trade talks with Russia, a pivotal player in the BRICS alliance.
This collaboration with Russia is seen as a strategic move to fortify their economic standing and increase their chances of being accepted into the Moscow-led bloc.
Despite these efforts, North Korea faces significant hurdles. Its international reputation and political regime present formidable obstacles to gaining the necessary support from BRICS members.
BRICS’s Economic Initiatives
Regardless of the expansion uncertainties, BRICS is set to advance its economic agenda significantly. The impending launch of its blockchain-based payment system stands out as a landmark initiative.
This new system is expected to revolutionise trade within the bloc by enabling transactions in national currencies, reducing reliance on the US dollar, and fostering economic independence.
Such initiatives underscore BRICS’s commitment to establishing a robust economic framework. The anticipation of a roadmap towards de-dollarization also highlights the alliance’s forward-thinking approach.
Challenges Facing North Korea’s Bid
North Korea’s application to join BRICS is fraught with challenges. The requirement for unanimous approval from all current members is one of the most significant hurdles they face.
Given the country’s isolated status and international tensions, gaining consensus seems unlikely, casting doubt on the potential success of their bid.
Nevertheless, North Korea’s pursuit continues, showcasing their willingness to engage with global economic frameworks despite resistance.
Global Implications of BRICS Expansion
The prospect of BRICS expanding has significant global implications. An increase in membership could enhance the alliance’s influence on the world stage and shift economic power balances.
New members bring diverse economic landscapes, further enriching the bloc’s capability to pursue comprehensive economic policies and initiatives.
For North Korea, joining BRICS would be transformative, potentially opening avenues for economic growth and enhanced international relations.
The future of North Korea’s BRICS membership remains uncertain, yet its pursuit reflects a strategic shift. As BRICS advances economically, its expansion decisions will be closely watched.
