Will Vietnam Join The BRICS Or Not? – OpEd

There has been a long debate in Vietnam whether the country should join the BRICS or not. Vietnam is taking a cautious approach in this matter.

Vietnam wants to adopt a wait and see approach it does not want to put itself in a confrontational position against the U.S. and the West. The U.S. and the European Union are the two largest importers of Vietnam’s products.  Vietnam has a different opinion on the BRICS.

Vietnam has balanced communication, maultilaterilization and diversification for mutual benefits. It has no alliances.

Current nature of relations with BRICS, Vietnam has not had any message expressing its intention to join the BRICS block, which is considered to be due to there are no clear benefits.

BRICS shows greater division in the context of increasing geopolitical tensions – avoiding being on any side. There is a China in BRICS, a big country that also has territorial disputes with Vietnam. 

It does not want to lose the advantage of cooperation with the U.S. and the West as far as capital and technology are concerned. 

Vietnam is a rising middle-class country, whose economy is growing tremendously.

According to the South China Morning Post newspaper, Vietnam’s delay in joining BRICS reflects its balance between strengthening ties with the U.S. and the potential benefits of aligning with a bloc seen as a U.S. counterweight.

Vietnam’s  conspicuous absence from the updated BRICS partner list signals a cautious balancing act, analysts say, as Hanoi weighs its growing economic ties with Washington against the benefits of joining a bloc often seen as counter to U.S.-led global influence.

During a Ministry of Foreign Affairs press conference on Jan.9, 2025, its spokesperson Pham Thu Hang responded questions related to the Vietnam joining BRICS.

According to the The Nation newspaper, Hang noted that, as an active and responsible member of the international community, Vietnam has been and will continue to actively and responsibly contribute to multilateral mechanisms, organisations and forums.

“Vietnam will also contribute to peace, stability and development of the region and the world by the needs and interests of Vietnam. Vietnam consistently pursues its foreign policy of independence, self-reliance and multilateralisation and diversification of international relations, and being a trusted friend and responsible member of the international community,” The Nation reported quoting Hang as saying.

According to Hang, the accession to regional and international multilateral mechanisms is constantly being looked into and considered by Vietnam’s foreign affairs guidelines, conditions, and capabilities.

On Jan. 7, Indonesia has become the first Southeast Asian country to join the BRICS. Thailand and Malaysia have become BRICS’ official partners.

Vietnam’s Prime Minister Pham Minh Chinh attended a BRICS Summit in Kazan city, Russia in 2024. He did not say anything about Vietnam will join the BRICS.

According to the Associated Press news agency, Russia will facilitate Vietnam’s participation in BRICS of developing economies as a “partner country,” the countries said in a joint statement recently after Russian Prime Minister Mikhail Mishustin’s two-day visit to Hanoi.

“The Russian side welcomed Vietnam’s active participation in BRICS events in 2024 and expressed its readiness to create favorable conditions if Vietnam joins BRICS as a partner country,” the statement said.

But Vietnam remains reticent to join the bloc, said Nguyen Khac Giang, a visiting fellow in the Vietnam Studies Program at Singapore’s ISEAS–Yusof Ishak Institute.

“Hanoi is still cautious of what the Trump administration will think about BRICS and the potential consequences of becoming a full member in the worst-case scenario. Meanwhile, the benefits are not that substantial for Hanoi to take such a risk,” the Associated Press reported quoting Giang as saying.

The founding members of the BRICS were Brazil, Russia, India and China. They founded the block in 2009 and later South Africa joined the group in 2010. Iran, United Arab Emirates, Egypt and Ethiopia joined the group as official partners.

Many countries like Saudi Arabia, Turkey, Azerbaijan, Belarus, Kazakhstan, Bolivia, Cuba, Uganda and Uzbekistan wanted to join the group BRICS.

BRICS wanted to introduce a common currency. But India rejected the proposal.

According to the Business Today newspaper, Indian Commerce Minister Piyush Goyal made it clear that India firmly rejects any proposal for a BRICS currency.

“We are on record—we don’t support any BRICS currency. Imagine us having a currency shared with China. We have no plans. It is impossible to think of a BRICS currency,” the Business Today reported quoting Goyal as saying.

Since Vietnam is doing much better in economy by increasing its exports, attracting foreign investments, Vietnam may not join the BRICS.