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Argentina’s President Javier Milei Withdraws from BRICS Membership Plans

In a surprising move, newly elected far-right President of Argentina, Javier Milei, has decided to pull out of plans to join the BRICS bloc of developing economies.

Editor Ritam English by Editor Ritam English
Dec 30, 2023, 06:20 pm IST
Argentina's President Javier Milei Withdraws from BRICS Membership Plans

Argentina's President Javier Milei Withdraws from BRICS Membership Plans

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In a surprising move, newly elected far-right President of Argentina, Javier Milei, has decided to pull out of plans to join the BRICS bloc of developing economies. This decision, reported by a media agency, was conveyed through a letter dated December 22, in which Milei expressed that the timing for Argentina’s membership in the bloc is not opportune.

Fulfilling a campaign promise to pursue closer ties with Western nations, President Milei highlighted that his approach to foreign affairs significantly differs from that of the previous government. He emphasized the need to review some decisions made by the prior administration in this context.

Argentina’s previous President, Alberto Fernandez, had advocated for the country’s inclusion in BRICS as a means to foster economic relations with the bloc, which represents approximately 25% of the world GDP. However, Milei, a self-described anarcho-libertarian, is shifting gears, indicating a clear intention to align Argentina’s foreign policy more closely with Western countries.

Media report says that Milei, in his three weeks in office, has already implemented sweeping changes, ranging from expediting divorce procedures to deregulating prices and eliminating subsidies.

During his campaign, Milei criticized countries led by communism, specifically pointing out China and Brazil, while expressing a desire to align Argentina with “free nations of the West,” including Israel and the United States, in both economic and foreign policy matters.

Despite withdrawing from BRICS, Milei’s letter to the leaders of Brazil, Russia, India, China, and South Africa emphasized Argentina’s commitment to intensifying bilateral ties to enhance trade and investment flows, signaling a different approach to global partnerships.

However, domestically, President Milei is encountering resistance from powerful organized labor groups as he implements a program of economic “shock therapy” and deregulation. These measures come at a time when Argentina is grappling with soaring inflation rates.

It’s worth noting that the BRICS grouping, consisting of Brazil, Russia, India, China, and South Africa, announced its decision to invite six new members, including Argentina, to join beginning January 1, 2024. The expansion could potentially transform BRICS from a geoeconomic to a geopolitical platform, bringing in countries from the Middle East and Africa.

Tags: Javier MileiBRICS blocArgentina's membershipPresident MileiArgentina President Javier MileiArgentinaPresident Javier Milei
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