Although Türkiye is a strong and important member of NATO, it faces difficulties in its relations with Western countries such as the United States, the United Kingdom and European countries. Despite all of Türkiye's cooperation and efforts, the European Union did not grant Türkiye the right to become a member. After waiting patiently for years, Türkiye has now turned its attention to the BRICS financial union, seeking a new financial union that will protect its economic interests.
The BRICS (Brazil, Russia, India, China and South Africa) alliance offers a new perspective to Türkiye. Despite its NATO membership, Türkiye initially refrained from joining BRICS and becoming a founding member. However, economic pressures such as the depreciation of the Turkish lira and rising inflation forced Türkiye to reconsider its stance. While the Turkish economy develops with tourism, industrial activities and exports, high inflation continues to occur in Türkiye; this points to external factors, especially dollar controls.
Considering the complexity and potential benefits of Türkiye's participation in BRICS, a balanced and strategic approach is required: steps should be taken to utilize the increasing trade and investment potential with BRICS countries, taking into account the opportunities in the global trade market and focusing on the main areas of partnership and foreign direct investment (FDI).
To analyze the risks of economic fluctuations in BRICS countries and to prepare strategies to deal with these risks.
BRICS membership should be achieved through a balanced foreign policy that does not affect basic relations with Western allies and presents Türkiye as a bridge between East and West. A balanced policy is a guarantee of Türkiye's best economic and economic interests.
Increasing Türkiye's autonomy and advancing its national interests more effectively at the international level through BRICS membership is a primary goal and strategic approach. By diversifying its economy, Türkiye aims to reduce dependence on the single market by investing in various sectors, such as technology, manufacturing and renewable energy, with a strong focus on local talent.
To facilitate smooth business operations with BRICS countries, improving and simplifying the regulatory framework is essential. Adapting the Turkish regulatory framework to international best practices will align it with global standards and foster a more conducive environment for international trade and investment.
Political stability and the alignment of national interests are crucial for this strategy. Building consensus among internal stakeholders, including political groups and businesses, is necessary to highlight the benefits and address the challenges of BRICS membership. Ensuring policy transparency will help in garnering support and understanding from all sectors.
A positive and active diplomatic strategy is vital. Türkiye should secure financing for critical infrastructure and development projects by actively participating in institutions such as the BRICS New Development Bank (NDB). Strengthening bilateral ties with BRICS countries will maximize strategic and economic benefits. Additionally, to maintain balance and avoid conflicts, it is important to clarify strategic goals with Western allies and maintain an ongoing strategic dialogue.
Promoting innovation and technological development by collaborating on research and development projects with BRICS countries is essential for Türkiye's sustainable development policy. Prioritizing the green economy and long-term economic and environmental improvement initiatives will further enhance Türkiye's growth and sustainability.
Positioning Türkiye as a regional leader by leveraging its unique geopolitical position and various alliances is a strategic objective. Using BRICS as a platform to discuss global issues – such as fair trade practices, climate change and global security – that align with Türkiye's national and international interests is key to maximizing its influence and impact.
Türkiye's potential membership in BRICS presents significant opportunities and challenges. By adopting a balanced approach that combines economic flexibility, strategic diplomacy and sustainable development, Türkiye can derive maximum benefits from BRICS membership. This approach will help protect its national interests, maintain strong relations with Western allies, and preserve its core strategic objectives.
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