According to Andrey Serbin, Executive Director of Cries and Counselor of the Argentine Council of International Relations, the main economic driving forces within Brics are represented by the growing economies of China and India, and by the increasing coordination within the RIC (Russia, India, China) group.

Mexico is a strategic partner for these countries, as it is geographically close to the United States and has a strong economic relationship with its neighbor to the north. Mexico is the second-largest economy in Latin America, after Brazil, and it has a population of more than 120 million people.

It is also a member of the North American Free Trade Agreement (NAFTA) with the United States and Canada, which has allowed for a significant increase in trade and investment in the region.

This makes Mexico an attractive market for BRICS countries looking to expand their economic reach beyond their borders. In addition, Mexico is a member of the Pacific Alliance, which is a regional trade agreement that includes Chile, Colombia, and Peru.

This agreement has been praised for its openness to foreign investment and for promoting economic integration in the region. Brics countries have expressed interest in working with the Pacific Alliance, and Mexico’s participation in this group could provide an opportunity for closer economic ties with Brics.

Mexico has also been a supporter of multilateralism and has advocated for the reform of international institutions such as the United Nations and the World Trade Organization. This aligns with the goals of BRICS countries, which have called for a more balanced global governance system that reflects the interests of developing countries.

Mexico has a lot to gain from joining the BRICS. The country is the second-largest economy in Latin America and has a strategic location between North and South America, making it an important trade partner for both regions.

Mexico also has significant natural resources, a strong manufacturing sector, and a growing middle class, making it an attractive market for the BRICS countries. In recent years, Mexico has increased its trade ties with the BRICS countries.

In 2020, Mexico’s trade with the BRICS countries was worth $56.3 billion, accounting for 13% of the country’s total trade. China is Mexico’s largest trading partner among the BRICS, followed by Brazil, Russia, India, and South Africa.

Mexico has also signed several agreements with the BRICS countries to promote cooperation in various areas such as trade, investment, education, and culture. For example, Mexico and Brazil signed an agreement in 2021 to promote the use of digital technologies in agriculture and rural development.

Mexico and Russia signed an agreement in 2019 to strengthen cooperation in the fields of energy, mining, and aerospace. However, Mexico faces several challenges in joining the BRICS.

The group was formed in 2006 as an economic bloc with the goal of challenging the dominance of Western countries in the global economy. While Mexico shares some similarities with the BRICS in terms of economic size and potential, it is not a part of the group’s original vision.

Moreover, the BRICS countries have different political systems, cultural backgrounds, and economic priorities, which could make it difficult for Mexico to find a common ground with them.