Türkiye made an official application for BRICS membership. But, interestingly from a distance, Türkiye is also a leading member of NATO. Nevertheless, this has not prevented Türkiye from confronting the United States in recent history.
This situation is sensitive for the Turkish economy, which is known for its structural ties to/dependence on the Western economy. In recent years, Türkiye has suffered from extraordinarily high inflation and the population has been severely impoverished.
Under these circumstances, what could BRICS membership mean for Türkiye?
Recep Erçin, Chairman of the Association of Economic Journalists of Türkiye, evaluated potential economic results of Türkiye’s application and potential membership to BRICS.
Would BRICS help to reduce inflation in Türkiye? What economic development mechanism will be available to Türkiye in BRICS?
Let me put the other way around. Some claim that a pivot to a non-Western bloc would impoverish Türkiye, which gets richer now in the Western value chain. But it is a matter of fact that the largest volume of Western trade is with BRICS members. The cooperation with BRICS countries will provide Türkiye with alternative opportunities.
“The world is bigger than five”
Unfortunately the thinking in Türkiye is so Westernized that everything is seen from a one-sided point of view. Even Ayşe Zarakol, daughter of Nejla Karakol, who is the spokesperson for the most pro-Western politicians in Türkiye, who has won twenty awards in the US in the field of foreign policy and has written a book, quote: “We cannot look at foreign policy through the eyes of the West. The East has its own understanding. We must take this factor into account.” She was given an award for that. But we in Türkiye still look at foreign policy within a framework drawn by the West.
For example, I was recently asked, “Is Türkiye’s membership in BRICS and its desire to join ASEAN a bargaining chip with the West?” Such a question shows a lack of understanding of Erdoğan’s vision. He says, “The world is bigger than five” and on every platform he voices the situation in Gaza. Türkiye even canceled 5 billion dollars’ worth of trade with Israel. No other country has done that. And Türkiye did that in a time when it needs money the most, and when its economy is led by a pro-Western finance minister whom the US and the EU likes.
Türkiye’s desire to become a member of BRICS and an observer in the Shanghai Cooperation Organization, its presence in ASEAN, and its effort to strengthen relations with the Global South stem entirely from a demand for a more equitable system.
I think that being a member of BRICS, being a part of the new blocs, tells us that there is a world outside the EU and NATO. In fact, that is a much bigger world. Their economies have strengthened a lot. In Türkiye’s trade figures, these countries are the biggest partners. If Türkiye wants to ensure its economic independence, it has to balance its foreign trade. We are in favor of balanced trade with all countries.
Missed opportunities for Türkiye
To turn back to inflation; today, Türkiye’s economy is under Western control. We have missed the opportunity for close cooperation with Russia. Although we have good relations, China and India have benefited much more from cooperation with the Kremlin. We have also failed in any way to integrate Iran’s energy resources under sanctions with Türkiye’s heavy industry. We may have been able to buy Russia’s energy resources at a very low price to reduce inflation. The West can extract much more concessions from China on trade, but Türkiye is still very weak about it. We could attract much more Chinese investment. We have an overly cautious approach in this regard: our policy is cowardly and since we have let China down several times on this issue, they are also cautious towards us.