{"id":46313,"date":"2024-03-25T16:22:29","date_gmt":"2024-03-25T16:22:29","guid":{"rendered":"https:\/\/www.africa-press.net\/eswatini\/all-news\/foreign-affairs-analysis-eswatini-can-join-brics"},"modified":"2024-03-25T17:26:12","modified_gmt":"2024-03-25T17:26:12","slug":"foreign-affairs-analysis-eswatini-can-join-brics","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/eswatini\/all-news\/foreign-affairs-analysis-eswatini-can-join-brics","title":{"rendered":"FOREIGN AFFAIRS ANALYSIS: ESWATINI CAN JOIN BRICS"},"content":{"rendered":"

Africa-Press – Eswatini. <\/strong><\/span>\u201cIf China does not object in anyway, this would be the best time for Eswatini to join this alliance (BRICS).\u201d<\/b><\/p>\n

This is the advice from the Political Department of the Ministry of Foreign Affairs and International Cooperation. However, the ministry\u2019s political analysts said Eswatini\u2019s alliance with BRICS could be ideal on condition it would not offend Taiwan. \u201cThe formation of BRICS was founded on economic partnerships for its member States, however, over the years, the bloc has been championing crosscutting issues on the international stage,\u201d reads the analysis by the government department. It also reads: \u201cThis, therefore, presents an opportunity for Eswatini to join the alliance.\u201d Some political predictions were advanced to instil a sense of caution: \u201cThis, however, might be a thorn for China who is a founding member. If China does not object in anyways, this would be the best time for Eswatini to join this alliance, with the hope that this alliance would not influence our relations with one of our best Asian allies, Taiwan.\u201d<\/p>\n

forming alliances<\/b><\/p>\n

The ministry\u2019s political department said joining or forming alliances with BRICS might require a small developing nation to align its political stance with the group. \u201cThis could pose challenges if it contradicts with existing diplomatic relationships or national interests,\u201d reads the analysis attached to the annual performance report of the Ministry of Foreign Affairs and International Cooperation for the financial year 2023\/2024. BRICS is an acronym that stands for Brazil, Russia, India, China, and South Africa. In 2006, Brazil, Russia, India and China created the \u2018BRIC\u2019 group. South Africa joined in 2010, making it \u201cBRICS\u201d. Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates (UAE) were invited to become members with effect from January 1, 2024.<\/p>\n

According to the BBC, a Saudi Arabian Government minister said in mid January that it had not joined. Argentina was also invited to join, but President Javier Milei pulled out in December 2023, shortly after taking office. This information was sourced from BBC. It must be said that BRICS was designed to bring together the world\u2019s most important developing countries, to challenge the political and economic power of the wealthier nations of North America and Western Europe.<\/p>\n

dominate<\/b><\/p>\n

BRICS argues that Western nations dominate important global bodies such as the International Monetary Fund (IMF) and the World Bank, which lend money to governments. It wants to see a greater voice and representatives for emerging economies. In 2014, it set up the New Development Bank to lend money to boost infrastructure. Meanwhile, in a four-page political analysis, the Ministry of Foreign Affairs and International Cooperation advised that Eswatini could benefit from enhanced economic ties, leading to increased exports and access to diverse markets if the country was to join BRICS. The ministry stated that engaging with this bloc could offer Eswatini the chance to diversify its diplomatic and economic partnerships beyond traditional alliances, thus enhancing the kingdom\u2019s bilateral relations.<\/p>\n

emerging market<\/b><\/p>\n

In terms of infrastructure, the ministry\u2019s political department advises that BRICS nations established the New Development Bank (NDB) to provide support to member countries, other emerging market economies and developing countries. In light of the existing NDB, the government department said Eswatini could seek funding from this financial institution for infrastructural projects, which, in turn, would promote economic growth in the country. It is said that the bloc members engaged in economic collaboration, which could open up avenues for trade and investment. It is stated that small countries benefitted more from the commerce because they were open to trade opportunities in comparison with large countries.<\/p>\n

increase sales<\/b><\/p>\n

According to the ministry\u2019s political analysts, developed countries tended to trade with small countries by establishing mutual friendships, thus increase their sales over the period. They also noted that BRICS member States \u2018are more advanced in areas of technology and innovation\u2019 and this development could pose an opportunity for the Kingdom to develop further in such areas. They pointed out that BRICS has become an economic rival to G7. The Group of Seven (G7) is an informal grouping of seven of the world\u2019s advanced economies, including Canada, France, Germany, Italy, Japan, the United Kingdom and the United States, as well as the European Union.<\/p>\n

initiatives<\/b><\/p>\n

The experts said several of their (BRICS) initiatives have included building an alternative global bank, with dialogue underway for a payment system and new reserve currency. According to the ministry\u2019s department of politics, there are theories to the effect that the BRICS currency could potentially destabilise the US Dollar. It mentioned that it would have an immense impact on global trade. As a result, the analysis by the ministry\u2019s department, countries aligned with the bloc would stand to benefit. Every opportunity comes with challenges. In the four-page political analysis on the rise of BRICS, the ministry\u2019s political experts referred to global power dynamics. They said as BRICS countries were seeking greater influence in international institutions, this could lead to shifts in the global power dynamics, potentially affecting smaller nations that might feel compelled to align with one or more BRICS members.<\/p>\n

They also predicted that as the bloc\u2019s members expanded their economic activities, there could be increased competition for resources. Therefore, the analysts said Eswatini may face challenges in securing vital resources, leading to potential economic pressures. According to the report, while economic collaboration is beneficial, Eswatini must be cautious not to become overly dependent on a single or a few BRICS members. It is said that economic fluctuations in these countries could have a direct impact on the smaller nations.<\/p>\n

Debt<\/b><\/p>\n

It is said that there is a potential of increased debt burden to the country in the form of member subscriptions and any other financial implications that could be expected from the kingdom. Eswatini\u2019s public debt stock stood at E34.70 billion by December 31, 2023. This translated to 40.9 per cent of the country\u2019s gross domestic product (GDP). GDP is a monetary measure of the market value of all the final goods and services produced in a specific time period by a country or countries. It is more often used by the government of a single country to measure its economic health. The country\u2019s public debt stock has exceeded the 35 per cent threshold recommended by the IMF. According to the ministry\u2019s paper, with the inclusion of new member States as of January 1, 2024, BRICS is set to have increased trade markets. \u201cEswatini stands to lose access to these markets should she not align with the bloc,\u201d it is stated in the analysis paper. They referred to the new members as Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates.<\/p>\n

The political analysts talked about the country\u2019s potential limited access to development assistance. It is said that Eswatini may face challenges in attaining the said assistance for these development assistance. They described South Africa as a leading proponent of BRICS and their engagement with other bloc members would have an influence on its foreign policy decisions and inclinations. It is said that Eswatini is likely to be impacted by these dynamics as South Africa will have different interests that they are pursuing and new alliances which demand their loyalties. \u201cThe use of soft power by the other countries within BRICS that have a vested interest in Eswatini may become more pronounced,\u201d reads the paper. \u201cThis needs careful observation and management.\u201d<\/p>\n

challenges<\/b><\/p>\n

In its summary, the Political Department of the country\u2019s Ministry of Foreign Affairs and International Cooperation stated that the implications of BRICS for a small developing country were nuanced, offering both opportunities and challenges. The department suggested that effective diplomatic strategies, careful economic planning and a keen understanding of global dynamics were essential in navigating the complexities associated with engagement with BRICS. However, government\u2019s political experts advised that specific implications for Eswatini could depend on the nature of cooperation, strengthened bilateral agreements between each BRICS member State and the country\u2019s ability to leverage these opportunities effectively.<\/p>\n

They advised that, for Eswatini in particular, emaSwati should be mindful of how their sovereignty was challenged by increased political influence of new partners in the sub-region through BRICS.<\/p>\n

\u201cWe must develop increased independence from external factors such as power dependency, economic influences and become more resilient,\u201d the experts advised. Alpheous Nxumalo, the Government Press Secretary, said the relationship between the Kingdom of Eswatini and the Republic of Taiwan \u2018is rock solid in every way\u2019. He said he would not like to address himself to the analysis of the Foreign Affairs personnel per se. But, he said, it was true that often times countries had the compelling responsibility to align themselves with nations that would best serve their respective national interests. \u201cRemember, Mainland China is one of the greatest partners of the African Union (AU), to the point that the headquarters of the AU was sponsored by China,\u201d Nxumalo said. Nxumalo said it was also true that economic and financial benefits attainable between countries were not necessarily the decisive factor for establishing diplomatic relations between two or more States.<\/p>\n

He said there was more than just economic factor or financial benefit associated with establishment of diplomatic relations. Secondarily, he said it was not within appropriate diplomatic practice to consult with a view to get permission or endorsement from an ally country to establish diplomatic relations with another. \u201cThis is the sole preserve of the head of State in question to decide,\u201d he said. It could not be ascertained whether Senate and House of Assembly members addressed this issue when they had debates on the annual performance of the Ministry of Foreign Affairs and International Cooperation.<\/p>\n

controversial issue<\/b><\/p>\n

One lawmaker though said he actually avoided the issue purposely. \u201cI am aware of the four-page analysis you are talking about. It was a good analysis but I did not want to address a controversial issue,\u201d he said. He preferred to remain anonymous. On February 1, 2024, CNN reported that nearly three dozen countries were seeking entry into the China and Russia-backed BRICS economic group. This was said by South Africa weeks after the body expanded its membership for the first time in more than a decade. It is said that 34 countries have submitted an expression of interest in joining the bloc of major emerging economies, South African Foreign Minister Naledi Pandor told reporters, without naming the nations. Russia was accepting those applications after assuming rotating chairmanship of the group this year \u2013 and will be the first member to oversee the body since it significantly expanded its global footprint at the start of the year, when Iran, Saudi Arabia, the United Arab Emirates (UAE), Ethiopia and Egypt formally joined.<\/p>\n

Source: TIMES<\/b><\/p>\n

For More News And Analysis About Eswatini<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Eswatini. \u201cIf China does not object in anyway, this would be the best time for Eswatini to join this alliance (BRICS).\u201d This is the advice from the Political Department of the Ministry of Foreign Affairs and International Cooperation. However, the ministry\u2019s political analysts said Eswatini\u2019s alliance with BRICS could be ideal on condition […]<\/p>\n","protected":false},"author":84,"featured_media":46312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,6,242],"tags":[234,248,249],"class_list":["post-46313","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-files","category-to-homepage","tag-africa-press","tag-africa-press-eswatini","tag-eswatini"],"yoast_head":"\nFOREIGN AFFAIRS ANALYSIS: ESWATINI CAN JOIN BRICS - Eswatini<\/title>\n<meta name=\"description\" content=\"\u201cIf China does not object in anyway, this would be the best time for Eswatini to join this alliance (BRICS).\u201d Th ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/eswatini\/all-news\/foreign-affairs-analysis-eswatini-can-join-brics\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FOREIGN AFFAIRS ANALYSIS: ESWATINI CAN JOIN BRICS\" \/>\n<meta property=\"og:description\" content=\"\u201cIf China does not object in anyway, this would be the best time for Eswatini to join this alliance (BRICS).\u201d Th ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/eswatini\/all-news\/foreign-affairs-analysis-eswatini-can-join-brics\" \/>\n<meta property=\"og:site_name\" content=\"Eswatini\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-25T16:22:29+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-25T17:26:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/eswatini\/sites\/33\/2024\/03\/sm_1711374616.512614.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"9 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/foreign-affairs-analysis-eswatini-can-join-brics#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/foreign-affairs-analysis-eswatini-can-join-brics\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"FOREIGN AFFAIRS ANALYSIS: ESWATINI CAN JOIN BRICS\",\"datePublished\":\"2024-03-25T16:22:29+00:00\",\"dateModified\":\"2024-03-25T17:26:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/foreign-affairs-analysis-eswatini-can-join-brics\"},\"wordCount\":1793,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/foreign-affairs-analysis-eswatini-can-join-brics#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/eswatini\/sites\/33\/2024\/03\/sm_1711374616.512614.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Eswatini\",\"Eswatini\"],\"articleSection\":[\"all news\",\"files\",\"to-homepage\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/eswatini\/all-news\/foreign-affairs-analysis-eswatini-can-join-brics#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/foreign-affairs-analysis-eswatini-can-join-brics\",\"url\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/foreign-affairs-analysis-eswatini-can-join-brics\",\"name\":\"FOREIGN AFFAIRS ANALYSIS: ESWATINI CAN JOIN BRICS - 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