As the BRICS looks to expand and Bangladesh hopes to join it in August, it seems that its aim is to create a new global order to counter the dominance of US and its currency dollars.
If Bangladesh were to join BRICS (Brazil, Russia, India, China, and South Africa), it could potentially have an impact on the bilateral relations between India and Bangladesh. BRICS is an influential bloc of emerging economies that focuses on economic cooperation and development.
On one hand, if Bangladesh becomes a member of BRICS, it could lead to increased economic ties and collaboration between India and Bangladesh. This could result in improved trade relations, investment opportunities, and infrastructure development, benefiting both countries. On the other hand, joining BRICS may also introduce new dynamics and considerations into the bilateral relations between India and Bangladesh. India, as an existing BRICS member, would need to navigate the changing dynamics within the group and adjust its approach towards Bangladesh accordingly. It could lead to a reevaluation of priorities, cooperation frameworks, and engagement strategies.
Ultimately, the impact on bilateral relations would depend on various factors, including the specific terms and conditions of Bangladesh’s membership, the goals and aspirations of both countries, and how they navigate the evolving dynamics within the BRICS framework.
Expert View
“Bangladesh’s decision to join BRICS, with a share of global GDP surpassing that of rich nations’ club G7, is seen as a move to diversify foreign relations and currency,” says Gautam Lahiri, a senior journalist and Bangladesh commentator.
According to him “While immediate benefits may not be apparent, joining BRICS will yield medium- to long-term advantages as the bloc actively expands to reduce the dominance of the US and the US dollar.”
