Nestled on the shores of the Caspian Sea, Azerbaijan, an important strategic partner for China in the South Caucasus, has become one the latest countries to seek membership in the Brics grouping, a formidable economic bloc founded by Brazil, Russia, India and China, and later joined by South Africa.
In the evolving multipolar world order, Azerbaijan exemplifies the trend of countries leveraging their unique geopolitical positions to diversify alliances, pursue national interests and strengthen their global standing, as displayed by its strategic efforts to capitalise on its location at the crossroads of East and West.
The increasing economic and political impact of Brics is the source of Azerbaijan’s enthusiasm for the bloc. With its recent expansion, which included Egypt, the United Arab Emirates, Ethiopia and Iran, Brics has become a formidable economic powerhouse, accounting for almost half of the world’s population and more than a quarter of the global economy.
For Azerbaijan, a country looking to lessen its reliance on hydrocarbons and diversify its economy, Brics could provide access to large markets, technology transfers and development experience. Brics’ New Development Bank offers an appealing alternative to Western lenders by financing infrastructure projects and promoting economic development.
Aside from economics, Brics membership aligns with Azerbaijan’s ambition for a more multipolar world order. The bloc’s emphasis on multilateralism and its status as an alternative to the conventional Western-dominated international system resonate with Azerbaijan’s foreign policy stance, which strives to balance relations with Russia and the West while strengthening connections with developing nations.