Russia will facilitate Vietnam's participation in the BRICS bloc of developing economies as a “partner country,” the countries said in a joint statement on Wednesday after Russian Prime Minister Mikhail Mishustin’s two-day visit to Hanoi.

“The Russian side welcomed Vietnam’s active participation in BRICS events in 2024 and expressed its readiness to create favorable conditions if Vietnam joins BRICS as a partner country,” the statement said, AP reports.

BRICS was formed by Brazil, Russia, India and China in 2009, with South Africa added in 2010, as a counterweight to the Group of Seven leading industrialized nations. Last year, the bloc added Iran, Egypt, Ethiopia and the United Arab Emirates. Saudi Arabia has been invited to join. Turkey, Azerbaijan and Malaysia have formally applied to become members, and a few others have expressed interest.

Vietnam's Southeast Asian neighbor Indonesia was admitted as a full BRICS member this month.

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But Vietnam remains reticent to join the bloc, said Nguyen Khac Giang, a visiting fellow in the Vietnam Studies Program at Singapore’s ISEAS–Yusof Ishak Institute.

“Hanoi is still cautious of what the Trump administration will think about BRICS and the potential consequences of becoming a full member in the worst-case scenario. Meanwhile, the benefits are not that substantial for Hanoi to take such a risk,” he said.

Vietnam needs support from the US to advance its economic ambitions and diversify its defense ties.

Russia has been trying to bolster ties in Asia to offset its growing international isolation over its war in Ukraine.

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During Mishustin’s visit to Hanoi, the countries agreed to expand their cooperation on nuclear power.

“Russia is ready to participate in building a national nuclear power industry in Vietnam,” the joint statement said.