Venezuela Eager to Contribute to New Economic Order Through BRICS Membership
Venezuela is actively seeking membership in the BRICS economic bloc, driven by a desire to contribute to what it calls a new economic order. President Maduro has expressed interest in joining BRICS for several years, viewing it as a potential lifeline for the nation. “Venezuela is reborn both internally and externally,” he proclaimed, highlighting the need to integrate into a new world order and resist international sanctions. He envisions “An economy that is not based on sanctions, blackmail, or economic coercion, but rather an economy based on cooperation, truly free trade, shared investment.”
Economic Integration and New Market Access
Economic Integration: Joining BRICS could provide Venezuela with enhanced economic opportunities and access to new markets. This aligns with Venezuela's need to diversify its economy and move away from reliance on traditional partners. Political Alliances: Membership in the group could strengthen a troubled Venezuelan economy, which has declined more than 90 per cent in the last decade, by securing stronger commercial ties. By joining BRICS, Venezuela could gain access to new markets in China, India, and Russia, helping to reinvigorate its struggling oil sector and stabilize its economy.
Boosting the Venezuelan Economy Through BRICS
Desde hace ya algunos años, el interés de Maduro está puesto en buscar la adhesión de Venezuela a los BRICS. Para el oficialismo, sería el salvavidas ideal para provide much-needed economic relief. With expansion likely to take place at the bloc’s upcoming annual summit, BRICS hopeful Venezuela has recently commented on its desire to contribute to a more equitable global economic system.
Solidifying Global Position
Venezuela’s potential membership in BRICS could further solidify its position in global diplomacy and offer new opportunities for economic growth and international collaboration. Gaining access to the BRICS network of nations and resources would be a considerable benefit.