The Thai cabinet has approved the country’s bid to join the BRICS group. This would make it the first Southeast Asian country to join the bloc.
Currently, the BRICS has ten members, including Brazil, Russia, India, China, and South Africa.
BRICS expansion is part of the BRICS+ initiative, with 22 countries, including Thailand, having applied for membership.
The BRICS group’s economy is valued at over $28.5 trillion, accounting for approximately 28% of the global economy and producing about 44% of the world’s crude oil.
Thailand is preparing to submit its letter of intent to join the BRICS group later this year.
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