Sri Lanka is seeking the membership of BRICS countries, a group of emerging markets striving to deepen economic ties. BRICS comprise of Brazil, Russia, India, China, South Africa and recently Iran, Egypt, Ethiopia and the UAE.
BRICS is an intergovernmental organization started by Brazil, Russia, India, China, South Africa in 2009.
The approval came after considering the report of an officer’s committee which looked into the advantages and disadvantages of joining the BRICs group as well accessing to the new development bank scheduled to be established under the BRICS organization.
This year, it gained four new members: Iran, Egypt, Ethiopia, and the UAE.
Sri Lanka has increasingly been trying to join international trade agreements including the Regional Comprehensive Economic Partnership
