Ghana’s BRICS move requires clear strategy to manage risks – Godfred Bokpin

Economist Prof. Godfred Bokpin says Ghana must develop a clear strategy to manage the economic and diplomatic risks associated with its decision to formally apply to join BRICS.

Foreign Affairs Minister Samuel Okudzeto Ablakwa has announced that the government has decided to formally apply for membership of the bloc of emerging economies.

Mr Ablakwa said the move is intended to diversify Ghana’s international partnerships, expand economic opportunities and strengthen cooperation with countries in the Global South.

Reacting to the development on JoyNews’ Newsfile, Prof. Bokpin said the decision reflects the shifting balance of the global economy but requires careful management of Ghana’s relations with its traditional partners, particularly the United States.

“I will not disagree with government taking this move, but again, we have to have a strategy to engage and manage that risk very, very carefully,” he said.

He cautioned that Ghana’s closer engagement with BRICS could affect its relations with Western partners.

“Our traditional partners, the U.S. and the rest, they will not take it kindly,” he said, emphasising the need for a clear strategy to guide the government’s engagement with both sides.

His comments come amid concerns over potential trade implications following US President Donald Trump’s threat to impose 100 per cent tariffs on countries associated with BRICS.

Prof. Bokpin argued that Ghana should consider the bloc’s growing economic significance in determining its international partnerships.

He said BRICS member countries account for more than 40 per cent of global GDP, adding that projections suggest China could become the world’s largest economy by 2050.

He further cited projections that four of the world’s five largest economies could be BRICS members by 2075.

“The direction is quite clear,” he said, adding that Ghana must position itself to benefit from the changing global economic landscape while carefully managing the associated risks.

Prof. Bokpin stressed that the government’s decision should not be pursued on a situational basis but must be supported by a deliberate strategy that protects Ghana’s economic interests and maintains its existing international relationships.

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DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.