Mexico BRICS: Several Interesting Connections to Explore

Image Source: Rulo Luna

BRICS’s expansion is the buzzword in recent global landscape. Majority of the emerging economies are interested in joining the bloc due to its less challenging and more accommodative nature. Most importantly the bloc is dominated by China, Russia, India and Brazil. All are fast growing economies. However, the question of Mexico joining the BRICS bloc remains uncertain. The article discusses relevancy of the country whether it is good for it to join or not. 

Here are some points aim at exploring Mexican connections with BRICS:

Economic Links of Mexico and BRICS:

Trade: 

Concerning the trade, Mexico is connected in Free Trade Agreements with all BRICS countries except Russia. These FTAs lead to increased trade flows in various sectors like manufacturing, agriculture, and energy with the said BRICS Nations.

Investment: 

Similarly, the BRICS nations have put a significant portion of investments in Mexico's infrastructure, tourism, and energy sectors. The investment contributes to economic growth and development.

Supply Chains: 

Mexico's geographical proximity to the United States makes it a strategic partner for BRICS countries. In addition, BRICS countries also look forward to diversifying their supply chains and access the North American market.

Mexico-BRICS Political Aspects:

Multilateral Cooperation: 

Mexico is also included in the countries who aspire to witness some major reforms in global governance and economic mechanisms. So, it shares the commitment of BRICS Nations to reform global governance institutions and to promote a multipolar world order.

South-South Cooperation: 

In another important aspect, Mexico has the potential to actively participate in BRICS-led initiatives focused on development assistance, knowledge sharing, and technological cooperation among developing countries.

Regional Integration: 

Mexico's active involvement in the regional organizations like the Pacific Alliance clarifies its ambitions of regional integration. Similarly, Mercosur alignment with BRICS emphasises on South-South cooperation and regional integration that may also undertake other ambitious nations for regional connectivity in the future.

However, according to Anadolu Ajans report, Mexican President Andres Manuel Lopez Obrador denied that his government was seeking to join the economic bloc led by Brazil, Russia, India, China and South Africa, or BRICS.

"We are not going to participate in this bloc, we welcome that other countries are doing so, we will continue to strengthen North American Alliance” he said.

Here are some points of convergence and divergence:

Challenges and Opportunities for Mexico in Connection with BRICS:

Balancing Interests: 

While Mexico takes benefits from its relations with BRICS countries, it requires to carefully navigate its ties with the United States, being its primary trading partner and immediate neighbour.

Infrastructure Development: 

Among the opportunities, increased cooperation of Mexico with BRICS Nations could help it to address its infrastructural needs and for greater economic growth.

Technological Advancement: 

Mexico comparatively lags in Technology. Collaboration with BRICS nations in areas like clean energy and digital technologies could accelerate Mexico's technological development and modernization.

Overall, it is obvious that relationship of Mexico with BRICS countries is multifaceted. It holds significant potential for economic growth, political cooperation, and technological advancement.

By exploring these connections and addressing potential challenges there are greater prospects that both Mexico and BRICS countries can benefit from closer ties.

The question that Mexico should join BRICS or not has significant repercussions for geopolitics of America. Therefore, the only option is left for the world leaders here is to adopt of a policy of wait and see.