BRICS Plus: Bolivia confirms its application to join

By Rhod Mackenzie

Bolivia is aiming o fully join BRICS, this was confirmed by its embassy in Russia to Izvestia. Meanwhile, the nation is prepared to grant partners access to its natural resources, notably lithium. Bolivia is not the lone country with a weak economy seeking BRICS membership. However, analysts are certain that it is premature to consider the inclusion of numerous new members. Will the expansion of BRICS come at the cost of smaller countries and affect the association's overall effectiveness.

What is Bolivia's potential contributions to the BRICS Plus membership?

— The Bolivian Foreign Office will pursue complete membership to BRICS to utilize new mechanisms of international relations that decrease reliance on the dollar in trade dealings. It's clear that the potential integration of Bolivia into BRICS will rely on the organization's members, who are presently deciding membership and partnerships frameworks, reported Bolivia’s Ambassador to Moscow Maria Luisa Ramos Ursagaste.

Bolivia maintains strong ties with all members of the organization as it supports the agenda promoted by BRICS.
"Particularly, she noted the importance of creating a more just and interference-free multipolar world, rejecting unilateral punishments and sanctions outside the framework of the UN.

Additionally, Bolivian President Luis Arce previously expressed his country's willingness to provide BRICS members with access to lithium deposits, stating that 'our lithium reserves are our main asset in joining any alliance'."
Lithium is essential for manufacturing batteries used in smartphones, laptops, and cars. Furthermore, these productions necessitate vast quantities of metal. Assembly of a single Tesla electric car requires over 60 kg of pure lithium.

Countries around the world have made the transition to electric fuel and the abandonment of high-carbon cars a priority. According to experts, manufacturing 15 million electric cars annually will necessitate approximately 100 million tonnes of lithium.
Bolivia boasts the world's second-largest lithium reserves with about 21 million tonnes, only surpassed by Argentina at 23 million. The USA, Chile, Australia, and China trail behind with considerably less lithium potential; 12 million, 11 million, 7.9 million, and 6.8 million tonnes, respectively.

 However, it is worth noting that Bolivia's leadership in lithium reserves does not translate to its production and export prowess. Australia and China occupy these positions despite having much smaller lithium deposits than Bolivia. This is because the terms offered by foreign corporations benefited those countries, but not Bolivia.

Just a few days before the 2019 coup d'état that removed President Evo Morales , Bolivia declined to sign a lithium production agreement with one of Germany's foremost companies. "Numerous individuals believe that the Germans instigated the coup in the country," stated political scientist Igor Pshenichnikov.
The potential for Bolivia to join the association is due to the countries of the southern hemisphere being drawn to this group, as they wish to avoid "being pressured by the dollar," according to Igor Pshenichnikov. Whether Bolivia can become a part of BRICS remains a significant uncertainty, and the outcome hinges upon the overall situation in South America, as well as within Bolivia itself. However, ultimately, the decision will lie with the nations of the association, particularly Brazil, who founded this institution and were the representatives of the South American region for many years.
Brazil, Bolivia's neighbour, is a BRICS member. The expansion of this alliance including Bolivia, considering its population of about 12 million people and smaller economy, is unlikely to result in a significant surge in BRICS' power and potential. Outside of the unification framework, Bolivia utilises its neighbour's potential in trade and industrial development, as stated by First Deputy Dean of the Faculty of Social Sciences at the National Research University Higher School of Economics, Mikhail Mironyuk.

Currently, Russia and China are Bolivia's primary partners for the development of lithium deposits. In 2023, a Rosatom subsidiary entered into an agreement with Bolivia's state-owned company, Yacimientos de Litio Bolivianos ("Lithium Deposits of Bolivia"), with plans to invest $600 million in an international project. However, Russia's priority remains developing its own lithium deposits.

Nonetheless, Mikhail Mironyuk states that there is potential for economic collaboration with Bolivia beyond just lithium.
In addition, Bolivia has the potential to provide the BRICS countries with access to its oil and gas reserves. In August of this year, Yacimientos Petroliferos Fiscales Bolivianos (the Bolivian Fiscal Oil Fields), the country's state-owned oil and gas company, made a significant discovery of a new hydrocarbon field. This discovered field has 0.7 trillion cubic metres of gas reserves and 2 million barrels of oil. If Bolivia can leverage these resources through energy exports, it could reduce the country's dependence on imported petroleum products and bolster its economy.
Russia has been collaborating with Bolivia in the gas industry since 2018. Gazprom and Yacimientos Petroliferos Fiscales Bolivianos have entered into a strategic cooperation agreement. The agreement does not entail the import of Bolivian gas to Russia.
Can small countries strengthen BRICS?
However, experts question whether the economic potential of small countries, like Bolivia, could fortify the BRICS alliance. In other words, it is probable that smaller nations will benefit more from having robust allies, whereas larger nations may not benefit as much from them.

"There are compelling arguments that expanding BRICS, particularly at the cost of larger countries, could bolster the organisation," according to Mikhail Mironyuk. "However, there are equally compelling arguments that the absence of institutional development during such an expansion could have a detrimental effect on BRICS."

Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates were invited to join during the previous BRICS summit. They are expected to become full members from the 1st of January 2024.
However, Argentina's membership in the BRICS alliance has been called into question since a new president, Javier Miley, was elected. His administration does not recognise the advantages of participating in the association and cooperating with "communist" nations.
BRICS is in its early stages of development and must establish guidelines for communication and shared stances on global issues, according to Vladimir Bruter of the International Institute for Humanitarian and Political Studies. Bruter suggests that the recent inclusion of five countries, announced at the South Africa summit, is suitable for the time being, though there is substantial interest in joining BRICS from numerous other nations.

In addition to Bolivia, other countries hoping to connect include Venezuela (aiming for 2024), Algeria, Bangladesh, Bahrain, and Vietnam, among others. Even Belarus has submitted a priority application from Minsk. Other countries on the list are Cuba, Honduras, Indonesia, Kazakhstan, Kuwait, Morocco, Nigeria, State of Palestine, Senegal, and Thailand.
"The attempt to establish a shared platform with prominent stakeholders is insufficient in shaping an internal agenda and establishing rules of engagement. Merely having preferences from major countries within the bloc is not equivalent to accepting obligations," the expert concluded.
In 2024, the Russian Federation will preside over BRICS. The association's summit is slated to take place in Kazan in October. Throughout Russia's tenure, finalisation of matters concerning the partner states' classification of the association will transpire.