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Thursday, May 23, 2024

Bolivia eyes BRICS membership, says Foreign Minister

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Bolivia has expressed its interest in joining the BRICS group of emerging economies, which comprises Brazil, Russia, India, China and South Africa. The country’s foreign minister, Juan Carlos Huarachi, said that Bolivia wants to foster ties with the BRICS countries and move towards sustainable development.

Bolivia shares the vision of the BRICS nations to promote a more democratic and multipolar world order, based on respect for sovereignty, non-interference and mutual benefit. He also praised the BRICS initiatives such as the New Development Bank and the Contingent Reserve Arrangement, which provide alternative sources of financing and support for developing countries.

Huarachi said that Bolivia has already established diplomatic relations with all the BRICS members and has cooperated with them in various fields, such as trade, investment, energy, agriculture, education and culture. He added that Bolivia hopes to participate in the next BRICS summit, which will be hosted by South Africa in 2023.

The BRICS countries have also launched several joint projects and institutions, such as the BRICS Business Council, the BRICS Think Tank Council, the BRICS Network University, the BRICS Joint Statistical Publication and the BRICS payment system.

Bolivia is not the only country that has shown interest in joining the BRICS bloc. In recent years, several other countries from Africa, Asia and Latin America have also expressed their desire to become part of the group or to enhance their cooperation with it.

Some of these countries include Argentina, Egypt, Indonesia, Iran, Mexico, Nigeria, and Vietnam. However, there is no formal mechanism or criteria for admitting new members to the BRICS bloc, and any decision would require consensus among the existing members.


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