Bangladesh Eyes BRICS Invite as Rumors Swirl of Formal Request

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In mid-May, several reports indicated that Bangladesh and India were engaging in currency trading using their respective currencies in order to address U.S. dollar liquidity challenges. Recent sources now reveal that Bangladesh is welcoming a formal invitation to join the BRICS bloc. Speaking to reporters on Monday, AK Abdul Momen, the foreign minister of Bangladesh, expressed his certainty about their participation, stating, “We will surely join once they invite us.”

Bangladesh Foreign Minister on BRICS: ‘We Will Surely Join Once They Invite Us’

All eyes will be on the highly anticipated BRICS summit scheduled for August in South Africa, as the global community eagerly awaits this significant event. Comprised of Brazil, Russia, India, China, and South Africa, the BRICS bloc represents a powerful coalition of regional economies. Currently, there’s a large number of countries that have either formally applied or expressed keen interest in becoming part of this influential group.

An array of 29 countries, including Algeria, Argentina, Bahrain, Bangladesh, Belarus, Comoros, Cuba, Democratic Republic of Congo, Egypt, Gabon, Guinea-Bissau, Indonesia, Iran, Kazakhstan, Mexico, Nicaragua, Nigeria, Pakistan, Saudi Arabia, Senegal, Sudan, Syria, Thailand, Tunisia, Turkey, United Arab Emirates, Uruguay, Venezuela, and Zimbabwe, are presently vying for BRICS membership.

During a press conference on Monday, AK Abdul Momen, the foreign minister of Bangladesh, expressed that if a formal invitation were extended to their South Asian nation, Bangladesh would embrace the opportunity to join the BRICS group. “We will surely join once they invite us. We are yet to receive any formal letter [inviting us to join]. The BRICS leaders are thinking of taking some emerging economies – around eight new countries including Saudi Arabia, United Arab Emirates, Indonesia, and Bangladesh,” Momen told reporters on Monday.

During his visit to Geneva, AK Abdul Momen dropped subtle hints that Bangladesh would soon become a member of the esteemed BRICS bloc, with an expected entry in August. According to regional reports from the Dhaka Tribune, a formal request to join the alliance was “put forward” following a meeting between prime minister Sheikh Hasina and South African president Matamela Cyril Ramaphosa last Wednesday. The Tribune also references an undisclosed source who revealed the nature of their discussions.

According to the Tribune, Momen took an additional step by sending a formal letter to Naledi Pandor, the current chairman of the BRICS bloc and South Africa’s foreign minister. Furthermore, the regional newsdesk reached out to Bangladesh’s foreign secretary, Masud Bin Momen, who confirmed their interest and application to join the alliance, stating, “Yes, we have expressed our interest and applied to join the alliance.”

Alongside deliberations on the potential expansion of the BRICS bloc to encompass numerous nations, the forthcoming summit will delve into discussions surrounding the establishment of a unified BRICS reserve currency. In mid-May, it was reported that Bangladesh and India were trading in their respective local currencies due to a lack of liquidity in the U.S. dollar.

What do you think about AK Abdul Momen’s statements about joining BRICS and the rumors of a formal request being sent? Share your thoughts and opinions about this subject in the comments section below.