(Yicai) May 30 -- Thailand is poised to seek membership of the BRICS intergovernmental organization, aiming to become the first Southeast Asian nation to join the group.

Thailand’s cabinet has approved the foreign ministry’s letter of intent concerning the country becoming a BRICS member, China Central Television News reported on May 28, citing government spokesperson Chai Wacharonke.

BRICS initially included China, Russia, India, and Brazil, with South Africa joining at the end of 2010. Egypt, Ethiopia, Iran, the United Arab Emirates, and Saudi Arabia joined this January. Argentina was also invited to become a member, but its new government, which took power last December, declined the offer.

Thailand’s government believes that joining BRICS will help enhance the nation’s international standing and provide more opportunities for its economic development, Wacharonke said.

After the cabinet met on May 28, when plans to submit the membership application were finalized, Thailand was invited to take part in the BRICS summit meeting in Kazan from Oct. 22 to 24, he noted.

Thailand’s participation at Kazan will likely accelerate its accession process and boost the country’s role as a leading developing country. 

Considering the uncertain global economic environment, Thailand is actively seeking various opportunities, Zhou Shixin, director of the Shanghai Institute for International Studies' Southeast Asia center, told Yicai. BRICS represents a positive and dynamic multilateral cooperation mechanism, and joining it aligns with the country's economic development needs, he said.

Indonesia, the SE Asian country with the largest population and economy, which previously had the opportunity to join BRICS, will soon have a new government, Zhou noted. Incumbent President Joko Widodo prefers to let the next administration decide on wether the country should become a member to ensure better policy continuity, he added.

Editors: Tang Shihua, Martin Kadiev