https://sputniknews.in/20230615/bangladesh-to-join-brics-soon-foreign-minister-2492066.html
Bangladesh to Join BRICS Soon: Foreign Minister
Bangladesh to Join BRICS Soon: Foreign Minister
Sputnik India
Bangladesh foreign minister AK Abdul Momen has said that the country would soon be invited to join as a BRICS member.
2023-06-15T12:13+0530
2023-06-15T12:13+0530
2023-06-15T12:13+0530
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Bangladesh Foreign Minister A.K. Abdul Momen has said that the country would soon be invited to join as a BRICS member. He stated it while briefing reporters following a meeting between Prime Minister Sheikh Hasina and South African President Cyril Ramaphosa in Geneva.The leaders met in the Swiss city on the margins of the World of Work Summit of the International Labour Organization (ILO).Momen said Prime Minister Sheikh Hasina would join the upcoming BRICS leaders’ summit scheduled to take place in South Africa in August.The minister noted that the New Development Bank (NDB) had already enrolled Bangladesh as a member in September 2021.The NDB was set-up by Brazil, Russia, India, China and South Africa to mobilize resources for infrastructure and developmental projects in the BRICS and other emerging economies. Its membership is open to all the members of the United Nations.BRICS’ Expansion on the CardsAbout 20 nations, many of them low and middle-income states from the Global South, have expressed an interest in joining BRICS in recent months, according to Russia's Deputy Foreign Minister Sergey Ryabkov.At least eight countries could get a BRICS’ membership in near future, with the South African presidency having invited the leaders of Bangladesh, Saudi Arabia, Indonesia and the United Arab Emirates (UAE) to the upcoming leaders’ meeting.The growing interest in BRICS from developing countries is taking place against the backdrop of growing frustration in the Global South with lack of reforms in multilateral governance and financial institutions.Global volatility in fuel and food prices caused by the western efforts to phase out Russian commodities from the supply chains has adversely affected the economic well-being of developing nations.
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Bangladesh to Join BRICS Soon: Foreign Minister
The BRICS nations - Brazil, Russia, India, China, and South Africa - this year surpassed the G-7 bloc of rich nations in terms of combined GDP weight.
Bangladesh Foreign Minister A.K. Abdul Momen has said that the country would soon be invited to join as a BRICS member.
He stated it while briefing reporters following a meeting between
Prime Minister Sheikh Hasina and South African President Cyril Ramaphosa in Geneva.
The leaders met in the Swiss city on the margins of the World of Work Summit of the International Labour Organization (ILO).
Momen said Prime Minister Sheikh Hasina would join the upcoming BRICS leaders’ summit scheduled to take place in South Africa in August.
The minister noted that the New Development Bank (NDB) had already enrolled Bangladesh as a member in September 2021.
The NDB was set-up by Brazil, Russia, India, China and South Africa to mobilize resources for infrastructure and developmental projects in the BRICS and other emerging economies. Its membership is open to all the members of the United Nations.
BRICS’ Expansion on the Cards
About
20 nations, many of them low and middle-income states from the
Global South, have expressed an interest in joining BRICS in recent months, according to Russia's Deputy Foreign Minister Sergey Ryabkov.
At least eight countries could get a BRICS’ membership in near future, with the South African presidency having invited the leaders of Bangladesh, Saudi Arabia, Indonesia and the United Arab Emirates (UAE) to the upcoming leaders’ meeting.
The question of the “comprehensive institutional development” of BRICS was a major area of discussion at the grouping’s foreign ministers’ meeting in Cape Town this month.
The growing interest in BRICS from developing countries is taking place against the backdrop of growing frustration in the Global South with lack of reforms in multilateral governance and financial institutions.
Global volatility in fuel and food prices caused by the western efforts to phase out Russian commodities from the supply chains has adversely affected the economic well-being of developing nations.
