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Home»Regulation»Palestine could join the BRICS next year
Regulation

Palestine could join the BRICS next year

NBTCBy NBTC18/08/2024No Comments3 Mins Read
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Palestine might soon join the BRICS club, according to recent developments. The group recently expanded to include four more countries and is now getting ready for a summit in Kazan, Russia, scheduled for October 22-24, 2024.

For the first time, Palestine could be at the table, discussing the global economy, trade, and currencies with these heavy hitters. It’s a big deal, especially given the geopolitical weight of BRICS.

The official invite is expected to land in Palestine’s lap any day now. President Mahmoud Abbas confirmed that discussions with Russia have been positive. And Russia’s the one at the forefront of the BRICS expansion. Abbas said:

“We have also discussed BRICS. We have reached a verbal agreement that Palestine would be invited [to attend this forum] in the ‘outreach’ format.”

The leader was clear that BRICS members are on good terms with Palestine, and the 2024 summit could be on the cards for him.

What it takes for Palestine to join BRICS

Now, getting a seat at the BRICS table isn’t just about being friendly with Russia. There are a few hoops Palestine has to jump through before it’s a done deal.

First, BRICS has generally supported the country’s push for statehood, especially during recent summits. But let’s not forget, Israel has strong connections with some BRICS members, particularly China and India.

Palestine joining the group would require an insane amount of delicate diplomatic maneuvering.

Mahmoud Abbas

To pull this off, the country needs to boost its diplomatic engagement with all BRICS countries without messing up their ties with Israel.

This means getting BRICS members to take a stand for Palestinian rights on the global stage, which is easier said than done. As Abbas puts it:

“It will all be as relevant as possible, considering the fact that the member countries of BRICS are all friendly to us.”

Internal politics: The Palestinian authority’s dilemma

Palestine’s internal politics could be a major problem here too. The Palestinian Authority (PA) is facing some serious issues. We’re talking about a divided leadership and a legitimacy crisis.

If the country wants to join BRICS, it needs to present a united front that can effectively represent the entire country.

A unified leadership could do wonders for the country’s credibility and negotiating power on the international stage. But the ongoing rift between the PA and Hamas makes this a tough ask.

On top of that, Palestine needs to show that it has a stable governance structure capable of managing international relationships and economic partnerships. The BRICS boys aren’t going to back a country that can’t keep its own house in order.

Xi Jinping with Vladimir Putin

Then there’s the economic side of things. Palestine needs to demonstrate that it has what it takes to contribute to the group’s economic goals.

Support from big players like China and Russia could make all the difference. These countries could provide the economic and political backing Palestine needs to hold its own in BRICS. But again, it’s easier said than done.

So, while there are still plenty of challenges ahead, the pieces are starting to fall into place for Palestine. An invitation to the 2024 BRICS summit would be a huge step forward, but it’s just the beginning.

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NBTC is the editorial account for NBTC News, covering Bitcoin, Ethereum, DeFi, blockchain infrastructure, exchanges, mining, regulation and digital asset markets. The editorial team focuses on clear sourcing, timely updates and practical context for crypto readers.

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