Sri Lanka’s application to join BRICS has not been rejected, as clarified by the Foreign Ministry, following local media reports. Additionally, the president of the New Development Bank has welcomed Sri Lanka’s intention to join, signifying positive developments in international cooperation and economic partnerships.
The Sri Lankan Foreign Ministry has clarified that reports regarding the rejection of the nation’s application to join the BRICS organization were inaccurate. This statement comes in light of local media claims that suggested Sri Lanka’s membership bid was dismissed. Furthermore, the Foreign Ministry noted that Sri Lanka’s desire to become a member of the New Development Bank (NDB) has received a positive response from the president of the NDB. Established by the BRICS nations, the NDB plays a crucial role in financing development projects in member states.
BRICS, an acronym for Brazil, Russia, India, China, and South Africa, is a coalition of emerging economies aimed at fostering cooperation and mutual development. Since its inception, the group has grown to include additional members and has established the New Development Bank to support infrastructure and sustainable development projects. Sri Lanka’s application to join BRICS emphasizes its strategic intent to enhance economic ties and benefit from multilateral partnerships.
In summary, Sri Lanka’s application for BRICS membership has not been rejected, contrary to reports, as confirmed by the Foreign Ministry. Additionally, President of the NDB has welcomed Sri Lanka’s interest in joining the bank, further indicating prospects for enhanced collaboration in development initiatives. Sri Lanka’s aspirations in this respect reflect its commitment to strengthening international economic relationships.
Original Source: economictimes.indiatimes.com
