BANGLADESH aims to be part of an influential bloc of five economies that aims to create a new global order to counter the United States’ dominance and its currency dollar.
Hopes are high that the South Asian country will become part of BRICS by August after a meeting held earlier this week between Bangladeshi Prime Minister Sheikh Hasina and South African President Cyril Ramaphosa in Geneva created promising results.
The South African told Sheikh Hasina that BRICS Bank has invited Bangladesh as a guest and will invite the South Asian country to be part of the influential bloc in the future.
South Africa will host the summit by August with Bangladesh as one of its special guests. The summit will not only benefit the South Asian country but could also offer an opportunity for South Africa to exercise leadership amid BRICS efforts to reform the arrangements for global economic governance.
BRICS which stands for Brazil, Russia, India, China, and South Africa plans to add eight more countries as members in the future.
Although there are currently five member countries, the BRICS have emerged as a powerful force in the global economy, bringing together the major emerging economies from the world, comprising 42% of the world’s population and 24% of the global GDP.
Besides Bangladesh, several other countries like Iran, Egypt, Saudi Arabia, and the UAE have either applied or expressed their desire to be part of BRICS.
