Colombo, October 14, 2024 (LankaXpress) — Sri Lanka has officially applied for membership in BRICS. Foreign Minister Vijitha Herath made the announcement during a meeting with the Colombo-based diplomatic corps, emphasizing the country’s commitment to joining the bloc and its associated New Development Bank (NDB). Herath’s remarks come as Sri Lanka continues to navigate its economic recovery amid ongoing debt restructuring and the upcoming parliamentary elections scheduled for November 14.
Sri Lanka’s application for membership underscores its intent to strengthen ties with emerging economies and to diversify its multilateral relationships.
“We consider BRICS to be an effective partnership to realize aspirations for mutually beneficial cooperation, peace, and development, through strengthened and inclusive multilateralism within the framework of the UN Charter,” said Minister Herath.
While President Anura Kumara Dissanayake and Minister Herath are unable to attend the upcoming BRICS Outreach Summit in Kazan, Russia, scheduled for October 23-24 due to the elections, Sri Lanka’s Foreign Secretary will represent the country and formally submit its request for membership. Minister Herath has already reached out to BRICS member states seeking support for Sri Lanka’s entry into the group.
This move towards BRICS comes as the Sri Lankan government remains focused on economic recovery. Herath noted that productive discussions with the International Monetary Fund (IMF) and the successful debt restructuring agreements with bondholders have put the country on a stable trajectory. Additionally, the World Bank’s recent signing of the $200 million RESET Development Policy Operation highlights the ongoing international support for Sri Lanka’s recovery efforts.