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The BRICS will seriously consider Sri Lanka's application for membership


April, 24 2024
watermark Economic news

Kirill Babayev, President of the National Coordinating Center for International Business Cooperation and Director of the Institute of China and Modern Asia of the Russian Academy of Sciences, said in an interview that BRICS intends to seriously consider Sri Lanka's application to join the organization. 


This was also stated by Sri Lankan Ambassador to Russia Janita Liyanage, pointing out that the desire to join is being discussed at the International Security Conference in St. Petersburg.


Babayev mentioned that Sri Lanka is one of the many Asian countries that are interested in joining the BRICS. He stressed the importance of Sri Lanka as a South Asian state with important trade and economic ties with other Eurasian countries.


This year, Russia assumed the BRICS presidency. Since the beginning of the year, the membership of the organization has expanded significantly to include Egypt, Ethiopia, Iran, the United Arab Emirates and Saudi Arabia, thereby increasing the population of the participating countries to 3.6 billion people – almost half of the global population. These countries make a significant contribution to the global economy, providing more than 40% of global oil production and about a quarter of global exports of goods.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.