Why Marcos’ Brics trip is ‘low-risk opportunity’ for Philippines to make new friends

President Ferdinand Marcos Jnr is set to be the first Philippine leader to join the Brics Summit in New Delhi this weekend – presenting him with the perfect “low-risk opportunity” to engage the grouping as Manila continues to diversify its ties, analysts say.

“The president seeks to ensure that our modern partnerships remain open, resilient and capable of delivering prosperity to our people,” Philippine Department of Foreign Affairs spokeswoman Analyn Ratonel said in a press briefing on Wednesday.

“This participation is a strategic opportunity to monitor emerging economic frameworks and to represent the priorities and perspectives of the region, while directly engaging leaders of major emerging economies.”

Brics, an international organisation formed in 2009 of emerging economies, currently counts Brazil, Russia, India, China, Egypt, Ethiopia, Indonesia, Iran, South Africa and the United Arab Emirates among its members.

While Marcos is attending the event in his capacity as Asean chair, he is also scheduled to meet Indian Prime Minister Narendra Modi and business executives on the sidelines. Issues to be discussed include the progress of the Philippines-India Strategic Partnership, a review of the implementation of an action plan for 2025 to 2029, and a follow-up with business leaders on the US$5.8 billion investment pledges Marcos secured during a state visit to India in August last year.

Analysts say the summit is Marcos’ chance to engage Brics members and diversify beyond its traditional ties with the US amid geopolitical tensions with China. Chinese President Xi Jinping is also expected to be attending, marking his first trip to India in seven years.