Thailand will participate in the upcoming 4th BRICS Plus Summit in Kazan, Tatarstan, from October 22-24, with Foreign Affairs Minister Maris Sangiamposa representing the nation. The announcement came from the Foreign Affairs Ministry’s spokesperson, Nikorn Balankura, who noted that the invitation came directly from Russian President Vladimir Putin. The summit will feature Thailand alongside over two dozen other nations invited to engage in discussions with BRICS members.
The 2024 BRICS Plus Summit will bring together the bloc’s founding countries—Brazil, Russia, India, China, and South Africa—along with newly joined members Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates (UAE). This year’s theme, “BRICS and the Global South: Building a Better World Together,” will focus on strengthening ties with emerging economies. Thailand, which submitted its BRICS membership application in June, aims to use the event to deepen its diplomatic and economic relations with the bloc.
A key agenda item at the summit will be Russia’s proposal to establish an alternative international payments platform. Moscow is advocating for a new system based on blockchain technology that would facilitate secure transfers and exchanges of digital tokens backed by the national currencies of BRICS member states. The goal is to reduce reliance on the U.S. dollar and create a payments network resistant to Western sanctions. According to a document released by Russia’s finance ministry and central bank, the proposed system would link commercial banks via BRICS central banks, enhancing financial collaboration within the bloc.
The summit is viewed as a significant opportunity for Thailand to signal its interest in advancing its relationship with BRICS, especially as it considers future membership. Other participating countries include Malaysia, Indonesia, Laos, Vietnam, and Kazakhstan, all of which have shown interest in collaborating with the expanded BRICS group.
