AS the global economic and political landscape evolves, the Philippines must now consider joining Brics, a bloc of countries striving to establish a multipolar world order, a Manila-based think tank suggested.

The Asian Century Philippines Strategic Studies Institute (ACPSSI) is advocating for the country to engage with Brics members to open doors to alternative trade routes, financing mechanisms and collaborative projects outside of traditional Western partnerships.

ACPSSI President Herman Tiu Laurel underscored this stance in an interview with The Manila Times, emphasizing that joining Brics could enhance the country's economic independence while still maintaining important ties with the United States.

Brics — originally composed of Brazil, Russia, India, China and South Africa — is an alliance that aims to provide a counterbalance to Western influence, particularly that of the United States.

The 16th Brics Plus Summit, held Oct. 22 to 24 in Kazan and chaired by Russian President Vladimir Putin, saw historic levels of participation with 42 delegations, including 24 heads of state, six international organizations such as the United Nations, representatives from 36 countries, 5,000 members of official delegations and over 2,000 global media representatives.

A highlight of this year's summit was the inclusion of new Brics members Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates. The bloc has also expanded its outreach, granting "partner status" to four Asean nations — Indonesia, Vietnam, Malaysia and Thailand — alongside Algeria, Belarus, Bolivia, Cuba, Kazakhstan, Nigeria, Turkey, Uganda and Uzbekistan.

Tiu Laurel pointed out these new developments signify Brics' intent to establish a diversified coalition across multiple continents.

The inclusion of Indonesia, Vietnam, Malaysia and Thailand to Brics has intensified calls for Philippine policymakers to consider the bloc as a viable option for economic growth and diplomatic diversification.

Tiu Laurel said the Brics bloc, now covering nearly 45 percent of the world's population and accounting for 28 percent of global gross domestic product, has gained increased relevance with its calls for an equitable global system.

He noted member countries are working on developing a new reserve currency to reduce reliance on the US dollar, an initiative that may bolster their economic sovereignty.

"For the Philippines, aligning with this mission could strengthen its bargaining position on the international stage, particularly with new opportunities to trade, secure financing and enter collaborative projects that don't solely rely on Western financial systems," said Tiu Laurel.

He said the momentum surrounding Brics and its Asean outreach appeals to Philippine leaders interested in establishing a broader regional alliance, including Finance Secretary Ralph Recto, who recently voiced support for exploring Brics membership.

Recto viewed this as a step toward amplifying the Philippines' influence within a powerful coalition of emerging economies, particularly given its proximity to Asean neighbors with Brics connections.

For his part, Tiu Laurel pointed out that membership in Brics could provide the Philippines access to new trade corridors, financing options and collective projects tailored for developing economies.

"This prospect is especially attractive as the Philippines continues to recover from the economic impact of the pandemic and seeks to strengthen its self-sufficiency," Tiu Laurel said.

"With Asean partner status already established, joining Brics could facilitate a network of strategic partnerships within Asia, offering a counterbalance to Western-centric trade and financial networks," he added.

Complexity

However, Tiu Laurel said the Philippines' strong historical and military ties with the US add a layer of complexity to any decision regarding Brics membership.

He said Kishore Mahbubani, a former UN Security Council president and Asean diplomacy expert, noted the US may view Philippine participation in Brics with concern.

As a long-standing ally, the Philippines would need to manage its diplomatic alignment delicately, since the US has traditionally played a central role in regional security arrangements and economic partnerships, said Tiu Laurel.

"Moreover, balancing these ties with newfound Brics relationships may be challenging, as the Brics bloc has openly advocated for reducing Western influence in global economic structures, including the International Monetary Fund and the World Bank," he explained.