BRICS Tether

Bangladesh on Track to Join BRICS as Early as August

In a promising development on the international stage, Bangladesh is positioned to join the influential BRICS organization later this year, specifically in August. This announcement was made by the Foreign Minister AK Abdul Momen, who addressed a group of reporters and provided insights into the recent meeting between Bangladesh’s Prime Minister Sheikh Hasina and the President of South Africa, Matamela Cyril Ramaphosa.

BRICS, an acronym for Brazil, Russia, India, China, and South Africa, is an astute association of five major emerging economies which collectively represent about 42% of the global population, and boast a combined GDP of $16.6 trillion. Founded in 2006, the organization’s primary objective is to enhance economic cooperation among member nations and stimulate dynamic growth within their respective domains. Bangladesh’s potential inclusion would undoubtedly fortify the organization’s influence and effectively strengthen its position as an essential catalyst for global economic prosperity.

Foreign Minister AK Abdul Momen expressed immense pride in Bangladesh’s invitation to join BRICS and regarded it as a testament to the nation’s remarkable strides in recent years. He emphasized that Bangladesh’s remarkable success in achieving sustainable economic growth, social development, and political stability played a pivotal role in earning this prestigious opportunity. This recognition, Momen believes, will undoubtedly bolster Bangladesh’s standing in the international community and open new avenues for economic growth and collaboration.

The meeting between Prime Minister Sheikh Hasina and President Cyril Ramaphosa proved highly productive, as the leaders discussed various areas of potential cooperation, including trade, investment, technology transfer, and people-to-people exchanges. Both leaders recognized the strong bilateral relations between their nations and expressed a mutual desire to further deepen these ties. President Ramaphosa lauded Bangladesh’s impressive progress in various sectors and voiced South Africa’s unwavering support for Bangladesh’s inclusion in BRICS. He believes that Bangladesh’s membership will not only contribute significantly to the organization’s diversity but will also enable further meaningful engagement between South Africa and Bangladesh.

Bangladesh’s embrace of BRICS membership presents an extraordinary opportunity for the nation to unlock its full economic potential and forge stronger ties with fellow emerging economies. Access to the immense market size and consumption power of BRICS nations will empower Bangladesh to enhance its export capabilities and fuel economic growth. Additionally, membership in BRICS will provide Bangladesh with a platform to engage with influential world leaders, facilitate technology transfer, attract foreign direct investment, and strengthen existing partnerships. Through active participation in BRICS initiatives, Bangladesh can learn from the experiences of its counterparts and share its own unique insights, ultimately leading to collective growth and prosperity.

While Bangladesh’s journey towards BRICS membership seems promising, it is crucial to note that the final decision rests with the existing members of the organization. However, given Bangladesh’s remarkable progress and its potential to contribute meaningfully to BRICS’ objectives, there appears to be a strong likelihood of its successful inclusion into the prestigious alliance. The forthcoming August decision will be eagerly anticipated by the Bangladeshi government and citizens alike, as they look forward to the positive transformations and opportunities that will arise from their potential BRICS membership.

Overall, Bangladesh’s potential induction into BRICS presents a significant turning point in the nation’s economic trajectory. It symbolizes international recognition of Bangladesh’s remarkable achievements and positions the country as a valuable contributor to global economic cooperation. The Prime Minister, government officials, and citizens of Bangladesh eagerly await the August decision, which has the potential to catalyze unprecedented economic growth, foster inclusive development, and solidify the nation’s reputation as a vital player in shaping a prosperous world.

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