Pakistan in BRICS!
Pakistan is eyeing BRICS. The 46th largest economy in terms of GDP with a population of 250 million is eager to become part of neo-economics multilateralism. Pakistan’s joining of BRICS would have many dividends for member states as well as the global economy, as Pakistan is home to a bulging youth populace of over 100 million. While the alliance which is seen as a parallel to American hegemony and one that purports to de-dollarise the world economy is part of Global South, it has all the ingredients to usher in an era of competition, growth and sustained development — one that is free from realpolitik. This is why Islamabad is banking on Moscow’s largesse, as president of the group, to push on with its candidature for integrating a new spirit in transnational cooperation.
Pakistan is a potential candidate for BRICS, and with the success story of CPEC, its inclusivity in the alliance will be sought-after. Its total share of exports with China in 2020 is estimated to be 8% and 2% with the rest of BRICS’ countries, whereas imports with China and BRICS are 27.28% and 6% respectively. Moreover, Pakistan supports a reformed world order and has been an active member campaigning against bloc politics. With its geo-strategic location, India, Russia and China while being the basic troika members cannot rule out Pakistan’s vibrancy and productivity. As the 15th BRICS Summit in Johannesburg in August this year had endorsed new memberships of Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the UAE from January 1, 2024, Pakistan’s addition would be of immense importance.
Pakistan has a role to play in the connectivity mosaic of BRI and beyond. Its muscles as a nuclear power and a member of Shanghai Cooperation Organisation pitches it on the map of countries that are desirous of reaching out to bigger economies and evolve a new decorum of interdependence. Pakistan must be welcomed to undo the sense of otherness and marginalisation in inter-state relations.
Published in The Express Tribune, November 24th, 2023.
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