INTERVIEW: How Azerbaijan can benefit from BRICS
By Faiq Mahmudov
As Azerbaijan officially applies to join the BRICS group , the implications of this move are being closely analyzed. The decision follows the "Joint Declaration of the Republic of Azerbaijan and the People’s Republic of China on Establishing a Strategic Partnership," adopted on July 3 during the Shanghai Cooperation Organisation summit in Astana. To explore the potential advantages and challenges of BRICS membership for Azerbaijan, News.Az correspondent spoke with Farhad Mammadov, a prominent political analyst and the head of the South Caucasus Research Center.
– What are the main advantages for Azerbaijan in joining BRICS?
– BRICS is a group of developing countries that operates alongside the G7. By joining this format, Azerbaijan aims to have a stronger voice in global discussions, aligning itself with larger and more influential nations to advocate for a fairer world order. BRICS plays a crucial role in these global discussions, and Azerbaijan seeks to defend its positions in this context, alongside other developing nations that have established independent relations with the West and are ambitious about regional leadership. The application for membership reflects this intent.
– If Azerbaijan joins BRICS, what risks or negative consequences may arise?
– BRICS is not a conventional organization or association; it functions more like a council. One of the advantages is that there are no binding economic or military-political obligations. It primarily involves developing relationships at a higher level. BRICS is likely to evolve and could eventually become a more formal organization or association. Should Azerbaijan become a member, it could play an active role during this transformation period. As for risks, they are minimal. It’s important to note that Azerbaijan’s close neighbors, Russia and Iran, are also members of BRICS. The geographical proximity of BRICS countries to Azerbaijan presents more opportunities than risks.
– In what areas can Azerbaijan make a significant contribution to the development of BRICS?
– Currently, BRICS has established a platform for political dialogue and economic collaboration, from which Azerbaijan can benefit. In this context, Azerbaijan can make substantial contributions in areas such as investment and transport logistics, facilitating closer alignment of positions.
– What are Azerbaijan's expectations from interaction with the main economic players in BRICS, such as China and India?
– Considering the importance of transport logistics, BRICS includes China with its East-West vector, which has interests in the South Caucasus, as well as Russia, Iran, and India with their North-South vector. Azerbaijan’s participation in BRICS, particularly in the context of transport logistics, can contribute to the development of both the East-West and North-South corridors.
– Which sectors of Azerbaijan's economy could benefit the most from joining BRICS?
– The BRICS Bank has been established, offering opportunities to integrate into production and trade chains. This can positively impact Azerbaijan’s non-oil sector. Additionally, the possibility of reducing dependence on the dollar by using national currencies is significant. There is a growing trend globally towards moving away from the dollar and adopting cryptocurrencies or the Chinese yuan. Azerbaijan is already making preparations in this regard, and BRICS could play a key role in this transition.
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