Zimbabwe eyes BRICS membership: A strategic economic shift

Zimbabwe is working towards joining BRICS, a powerful economic bloc comprising Brazil, Russia, India, China, and South Africa.

Zimbabwe has applied to join BRICS. Image via X@uncensorednews9

Zimbabwe has set its sights on joining BRICS, a move that could significantly alter its economic and geopolitical landscape.

The Minister of Foreign Affairs and International Trade, Amon Murwira, recently confirmed that Zimbabwe is in the process of fulfilling the requirements to become part of the influential economic bloc.

Murwira made this revelation during his visit to Moscow, where he talked with Russian Foreign Minister Sergey Lavrov.

Zimbabwe’s Path to BRICS Membership

As reported by TV BRICS, during a press briefing in Moscow, Murwira highlighted Zimbabwe’s strong political ties with Russia. He also emphasised the country’s commitment to strengthening economic relations. When asked about Zimbabwe’s potential participation in BRICS, he acknowledged the association as a crucial platform for economic collaboration.

“Zimbabwe is currently working on fulfilling the requirements necessary to join BRICS. We are at the application stage and are awaiting a response in line with the consensus reached within the BRICS framework,” said Murwira.

What is BRICS?

BRICS is an acronym for a coalition of emerging economies—Brazil, Russia, India, China, and South Africa. The group was formed to enhance economic cooperation, trade, and investment among its members. Over the years, BRICS has positioned itself as a counterbalance to Western-dominated financial institutions like the International Monetary Fund (IMF) and the World Bank.

Why is BRICS Important for Zimbabwe?

For Zimbabwe, joining BRICS could offer numerous economic and strategic benefits:

Access to Alternative Financial Systems – BRICS is working on establishing financial mechanisms that reduce dependency on Western financial institutions. Zimbabwe, which has faced economic sanctions from Western nations, could benefit from new financial opportunities within the bloc.
Enhanced Trade Partnerships – As a member, Zimbabwe would gain access to an expanded market with major economies like China and India, potentially boosting exports and foreign direct investment.
Infrastructure and Technological Support – BRICS nations, particularly China and India, have extensive experience in infrastructure development, which could help Zimbabwe modernise its transport, energy, and telecommunication sectors.
Strengthened Political Alliances – BRICS provides a diplomatic platform for nations that share a vision of multipolar global governance, enabling Zimbabwe to engage with like-minded partners on international policies.