In a significant diplomatic move, Sri Lanka has officially decided to apply for membership in the BRICS organization and the New Development Bank. This announcement was made by Foreign Affairs Minister Vijitha Herath during a meeting with diplomats at the Ministry of Foreign Affairs.
Minister Herath highlighted the strategic importance of BRICS, which includes major emerging economies like Brazil, Russia, India, China, and South Africa. He stated that the government views BRICS as an effective platform for fostering mutually beneficial cooperation, promoting peace, and facilitating sustainable development. This initiative is also seen as part of Sri Lanka’s broader strategy to strengthen its ties with emerging economies and diversify its foreign relations.
The upcoming BRICS Summit, set to take place in Kazan, Russia, from October 23 to 24, 2024, will not be attended by Minister Herath or President Anura Kumara Dissanayake due to the imminent elections in Sri Lanka. Instead, the Secretary of Foreign Affairs will represent the country at the summit and will present Sri Lanka’s request for membership to the BRICS leaders.
In preparation for this application, Minister Herath has proactively sent letters to the foreign ministers of BRICS member countries, seeking their support for Sri Lanka’s bid. He emphasized the importance of building strong partnerships and engaging in multilateral cooperation within the framework of the United Nations Charter, which aligns with the goals of BRICS.
Additionally, Sri Lanka’s pursuit of BRICS membership comes at a crucial time as the nation is navigating economic challenges and seeking avenues for growth and investment. BRICS is seen as a potential catalyst for attracting foreign investment and enhancing trade relations, particularly with other developing nations.
Sri Lanka’s application reflects its desire to be part of a bloc that represents a significant portion of the global population and economy. By joining BRICS, Sri Lanka aims to enhance its economic resilience, gain access to new markets, and collaborate on various development projects.
As the country moves forward with its application, it will be essential for Sri Lanka to demonstrate its commitment to the principles of BRICS and engage constructively with member nations to secure their backing.
