Sri Lanka Seeks BRICS Membership to Strengthen Economic Ties at Russian Summit
By: Staff Writer
October 08, Colombo (LNW): Sri Lanka will pursue membership in the BRICS organization during the meeting in Russia later this month, as announced by Cabinet Spokesman Minister Vijitha Herath.
He confirmed that Sri Lanka has been invited to the BRICS summit and aims to seek membership. This decision follows discussions with the Indian Foreign Minister during his recent visit to Sri Lanka.
Sri Lanka has been invited for the BRICS later this month… and we expect to seel membership in BRICS,” Herath told a weekly media briefing to announce the cabinet decisions.
The invitation to attend was delivered to President Anura Kumara Dissanayake by the Russian ambassador Levan S. Dzhagaryan.
“We have discussed with Indian Foreign Minister when he was here last week as well.”The previous government’s cabinet approved the country seeking the membership in the BROCS which includes economic giants such as China, India, and Brazil, he added.
Sri Lanka is to participate at the next BRICS (Brazil, Russia, India, China, South Africa) summit from October 22-24 on the invitation of Russian President Vladimir Putin.
However, none of the JVP/NPP political leadership will be attending the summit as they will be engaged in campaigning for the parliamentary elections
The previous Sri Lankan government had already approved efforts to join BRICS, which includes economic powerhouses like China, India, and Brazil. Originally an acronym created by an investment bank,
BRICS+ is a coalition that seeks to increase its influence on the global political landscape and advocates for a multipolar system that promotes democratic engagement in international decision-making processes.
Many of BRICS+’s goals and demands, regardless of whether they fall under economic, development, or political categories, are formulated and refined through a multilateral approach
BRICS has grown into a major intergovernmental organization that presides over a multilateral financial institution. In January 2024, it expanded by adding several key energy providers, potentially increasing its influence in a world dominated by the U.S.
BRICS, which initially included Brazil, Russia, India, China, and South Africa, aims to strengthen economic ties among emerging markets.
Four new members—Iran, Egypt, Ethiopia, and the United Arab Emirates—have been added this year. Sri Lanka will attend the summit from October 22-24 at the invitation of Russian President Vladimir Putin, although leaders from the JVP/NPP political party will not be present due to election campaigning.
The group was established to unite developing economies and challenge the dominance of wealthier nations in North America and Western Europe. Russia currently holds the chair for the BRICS summit in 2024. The invitation to Sri Lanka’s President Anura Kumara Dissanayake was delivered by Russian Ambassador Levan S. Dzhagaryan.
The former Sri Lankan Cabinet had already recommended applying for BRICS membership and proposed creating a development bank under its framework.
