Foreign Minister Vijitha Herath yesterday told The Island that a section of the media had misinterpreted a decision taken by the current membership of BRICS not to expand the organisation for the moment as rejection of Sri Lanka’s application to join the organisation.
However, the grouping has accepted Sri Lanka’s request to become a member of their New Development Bank (NDB), Herath who is also the Cabinet spokesman said.
Established in 2015 by BRICS (Brazil, Russia, India, China, and South Africa), the NDB is a multilateral development bank aimed at mobilising resources for infrastructure and sustainable development projects in BRICS and other emerging markets and developing countries (EMDCs).
By providing such alternatives, BRICS countries challenge the influence of the U.S. and the West in global finance.
Meanwhile, the Ministry of Foreign Affairs has issued the following statement regarding Sri Lanka’s application for BRICS membership: “As approved by the Cabinet on 7 October 2024, Sri Lanka applied for membership in BRICS and the New Development Bank (NDB). The Minister of Foreign Affairs Vijitha Herath wrote to his counterparts in BRICS member countries informing of Sri Lanka’s interest to join. President Anura Kumara Dissanayake also wrote to his Russian counterpart in this regard.
At the BRICS Outreach Summit held in Kazan, Russia 22-24 October 2024, Foreign Secretary Aruni Wijewardane, as leader of the Sri Lanka delegation announced Sri Lanka’s interest. At the Summit, the BRICS Member States also endorsed a new category of Partner Countries, whilst ‘welcoming the considerable interest by countries of the Global South in BRICS’ (Kazan Declaration).
Pending requests for BRICS membership from many countries including Sri Lanka will be considered by BRICS member countries in due course.
Sri Lanka’s intention to join the New Development Bank was welcomed by the President of the New Development Bank. The Foreign Ministry together with relevant Government agencies will review the procedures and timing in this regard.
There is no truth in the statement carried in certain local media that “Sri Lanka’s BRICS application has been rejected”. It is regrettable that the points made by the Minister of Foreign Affairs at the post-cabinet media conference on 6 November 2024 have been misrepresented.”
