Azerbaijan applies to join BRICS after Putin visit

Azerbaijan has formally applied to join the BRICS bloc, a day after Russian President Vladimir Putin visited the country, the Azeri Ministry of Foreign Affairs announced.

The group of emerging economies, which was formed in 2009, initially consisted of five states: Brazil, Russia, India, China, and South Africa, but has since expanded its partnerships.

In January, the UAE, Egypt, Iran, and Ethiopia joined the alliance. It consists of the world’s biggest oil producers and contributes to more than a quarter of the world’s GDP and more than 40 per cent of the global population.

Azerbaijan’s announcement came days after President Putin visited the South Caucasus country, holding talks with his counterpart. The two-day trip secured a $120 million (AED 440 million) deal to boost cargo transport between the two countries, with the possibility of transporting 15 million tonnes of cargo annually.

Russia has been marred by sanctions imposed by the West, resulting in the country seeking expanded partnerships to access global markets-Azerbaijan being a key intermediary. 

Azerbaijan views its partnership with Russia as a security assurance over tensions with neighbouring Armenia and their long-time territorial dispute over Nagorno-Karabakh.

BRICS was created as a parallel to Western nations reportedly dominating global bodies-including the IMF and World Bank.

"Russia sees [BRICS] as part of its fight against the West, helping it to overcome the sanctions imposed after the invasion of Ukraine," says Creon Butler of the London-based think tank Chatham House.

Russia, which currently chairs the rotating presidency, will hold the BRICS Summit in Kazan, Russia from October 22 to 24.