Joining BRICS would boost Italy's trade and elevate its ties with the rising Global South to higher level

Editor's note: As global governance undergoes profound changes, the role of the BRICS Plus mechanism in fostering a more equitable and inclusive international order has become increasingly significant. To explore its impact, the challenges it faces, and its future prospects, China Watch, a think tank powered by China Daily, is launching the BRICS Views column, bringing together scholars, policymakers and industry leaders for in-depth discussions on issues of concern to the grouping.

Is it out of place to propose Italy as a member of BRICS?

It doesn't seem so, especially in these times marked by the United States' "Make America Great Again" rhetoric and the resulting growing trade protectionism. The US has imposed tariffs on China, Canada, Mexico and the European Union and threatens to increase them by 100 percent for the BRICS members if they insist on creating an alternative currency to the dollar. The arrogance of the US knows no bounds, and the BRICS perspective could offer the right alternative for Italy.

Italy is a gateway country — geographically, historically and culturally positioned between the East and the West, and between the Global North and the Global South. However, it has not been benefiting from the opportunities offered by the "Kazan world", even after BRICS expanded to include nations with which Italy shares strong ties and long-established relations.

Italy's exclusive alignment with the Western bloc is the opposite of its historical role in the international context.

Joining BRICS would grant Italy greater autonomy and authority in its relationships with traditional allies, while reinforcing its historical geopolitical position: dialogue and cooperation on an equal footing with all countries.

At the 16th BRICS Summit, which was attended by delegations from 36 countries — 22 represented by heads of state — and six international organizations, in Kazan, Russia in October 2024, it was revealed that 34 countries had requested to join or expressed interest in cooperating with BRICS. Saudi Arabia, Egypt, the United Arab Emirates, Ethiopia and Iran became full members in January 2024, with Indonesia joining in January 2025.

The group's leaders opened up to cooperation with other countries establishing the "partner country" status at the summit. By January 2025, nine countries had acquired this status: Belarus, Bolivia, Cuba, Kazakhstan, Malaysia, Nigeria, Thailand, Uganda and Uzbekistan.

At the end of the summit, it became clear that BRICS had fully matured. The event's success was so significant that Kazan will be remembered in history, like other locations before it — Bretton Woods, Bandung and Davos.

In Kazan, BRICS proved that it is strong not only from an economic, financial and productive standpoint but also as the primary alternative to other multipolar forums for addressing issues affecting the Global South.

In fact, the success of the Kazan summit was so important and undeniable that even major Western media outlets had to acknowledge the failure of the strategy to isolate Russia and demonize President Vladimir Putin.

The Economist Intelligence Unit estimates the BRICS population to be approximately 3.9 billion (about 48 percent of the world's total), with India and China having the largest demographic share, each exceeding 1.4 billion people.

In contrast, the collective population of the G7 countries account for less than 800 million people, or less than 10 percent of the global population. Some members, such as Italy and Japan, are experiencing population decline.

Data from the International Monetary Fund indicate that the BRICS economies currently account for 27.45 percent of global GDP at current prices ($31.71 trillion), compared to just over 15 percent 20 years ago. Notably, China's GDP ($19.53 trillion) alone exceeds that of all the other partners combined.

The G7 countries collectively account for 44.5 percent of global GDP at current prices ($51.45 trillion) and, as before, the US GDP($30.34 trillion) alone exceeds that of the other six countries combined.

According to the IMF, BRICS surpassed the G7's share of global GDP in terms of purchasing power parity in 2018. By 2024, the gap had widened further, with BRICS accounting for 39.31 percent of global GDP compared to 28.65 percent for the G7. China, with 19.29 percent of the global GDP, has for many years surpassed the US, which accounted for 14.84 percent in 2024.

Finally, it's crucial to consider trade between Italy and BRICS, which is substantial and varies significantly across the group's member countries.

In 2024, the total value of Italy's exports was 38.1 billion euros ($41.5 billion) while its total value of imports was 67.5 billion euros, resulting in a trade deficit of 29.4 billion euros.

The largest trade volume is with China, totaling 59.9 billion euros, while the smallest is with Ethiopia at 155 million euros.

Global market shares between Italy and some BRICS countries are significant.

Economic and trade data confirm that Italy should consider joining BRICS, which would enhance trade relations, expanding beyond simple bilateral ties and elevating them to a systemic level.

The author is former president of the Italian Senate Foreign Affairs Committee and president of the Italy BRICS Institute. The author contributed this article to China Watch, a think tank powered by China Daily. The views do not necessarily reflect those of China Daily.

Contact the editor at editor@chinawatch.cn.