Cuba's acceptance as an associate member of the BRICS has been a significant step for the island, which is seeking new economic and diplomatic alliances in an increasingly competitive global landscape. However, becoming a full member of this bloc of emerging economies presents a series of challenges that Cuba will need to confront if it wishes to participate fully in the decisions and strategies of the group.
Currently, Cuba's status as an associate member allows it to participate in some group initiatives, but without voting power or decision-making authority. To progress toward full membership, the Caribbean nation needs to strengthen its economic stability, reform its governance model, and expand its investment commitments with key countries in the bloc, such as China and Russia.
Economic stability, a fundamental challenge
One of the main obstacles that Cuba faces in achieving full membership in BRICS is the lack of internal economic stability. The Cuban economy, characterized by a centralized and state-controlled system, suffers from a deep energy crisis that results in prolonged blackouts affecting both daily life and productive activities. The shortage of basic goods, such as food and medicine, has been a constant issue for the Cuban population, a situation exacerbated by the country's limited openness to private capital and foreign investment.
The lack of foreign currency and limited external investment hinder the reactivation of the Cuban productive system, which restricts its ability to generate sustained economic growth. Although Cuba has received financial support and credit from its closest allies in the BRICS bloc, particularly from China and Russia, this backing has not been enough to overcome the structural problems of its economy. To be seen as a stable economic partner by the other countries in the group, Cuba will need to strengthen its relationship with these allies, transforming current cooperation into broader and long-term commitments that include investment in key sectors such as energy and infrastructure.
Reform of the governance model: an unavoidable condition
The other major challenge Cuba faces on its path toward full membership in the BRICS is the need to reform its governance model. Despite the diversity of political systems within the group, the BRICS share the necessity to adapt to governance standards that facilitate economic integration and attract investments. This includes adopting clear legal frameworks to protect investors and a greater openness to private sector participation.
Cuba, with a rigid and centralized governance model, is far from meeting these requirements. Although in recent years it has allowed the creation of small and medium-sized enterprises and made some openings to the private sector, these reforms have been slow and limited. State control continues to be an obstacle to the country's economic modernization, and the lack of legal certainty for foreign investors creates distrust and hinders the arrival of the necessary capital for economic development.
Without a deeper transformation of its economic and legal structure, which allows for greater transparency and facilitates investment, Cuba cannot fully meet the governance expectations of the BRICS group. This keeps it distant from potential full membership, as adapting to these standards is key to the success of cooperation within a bloc that seeks broader and stronger economic integration.
The importance of the global agenda and the political will of the BRICS.
In addition to its internal challenges, the possibility of Cuba becoming a full member of the BRICS also depends on the political will of the current members of the group. Recent decisions made by BRICS, such as Brazil's refusal to integrate Venezuela, demonstrate that internal politics and the perceived stability of the interested countries play a crucial role in the expansion of the bloc. In the case of Cuba, the current members' perception of its ability to meet the group's commitments and its political and economic stability will be decisive.
On the other hand, to align itself with the global agenda of the BRICS, Cuba will need to adapt to the strategic objectives of the group, which include promoting a fairer international trade system that is less dependent on the U.S. dollar, as well as building a more multipolar global economy. This entails not only participating in joint development projects driven by the bloc but also adjusting its foreign policy to align with the interests and vision of the BRICS in a global context.
A long and complex journey for Cuba.
Cuba's inclusion as an associated member of the BRICS has been seen as an opportunity for the island to strengthen its economic diplomacy and explore new strategic alliances. However, this status does not guarantee automatic access to full membership, and the challenges Cuba faces are significant. The reforms needed to achieve economic stability and modernize its governance model require a deep political and social commitment, as well as greater openness to foreign investment.
In the context of Venezuela's recent request to join the BRICS group, the stance of countries like Brazil, which vetoed its incorporation, highlights the importance of demonstrating stability and alignment with the interests of the bloc. The refusal of Venezuela indicates that current members are cautious about considering the integration of new countries that could impact the cohesion and stability of the group.
Although Cuba's status as an associate member marks a significant advance, the path to full membership will be long and will require sustained effort from the island to overcome its structural issues and solidify its position within a group of emerging economies seeking to challenge the dominance of Western powers. The effectiveness of this integration will depend on Cuba's ability to realize agreements and actively participate in joint projects with the full members of the bloc.
In conclusion, "everything looks good" in headlines, but Cuba is far from translating this inclusion into a tangible improvement in the investments that the Cuban regime desperately needs to stay afloat. Despite the statements and inclusions, all the countries that belong to BRICS are aware of Cuba's reality; they have all been "bitten" by the regime's ineffectiveness and its ease of forgetting debts and commitments. Today's BRICS bear little resemblance to the former CAME: they are not based on principles of solidarity or anything similar. It is an economic bloc characterized by palpable pragmatism. What place will Cuba have in this bloc? A very small one, if they continue on the path of Díaz-Canel's continuity.
What do you think?
COMMENTFiled under: