Pakistan has officially submitted its application to join the esteemed BRICS group of nations in 2024, as confirmed by Muhammad Khalid Jamali, the newly appointed Ambassador to Russia. In an exclusive interview with TASS, Ambassador Jamali expressed unwavering confidence in Russia's support throughout the membership process.
Underscoring the importance of the application, Jamali clarified that Pakistan aspires to become an integral part of the BRICS organization under Russia's presidency in 2024. In pursuit of this objective, Pakistan is actively engaging with member countries to secure widespread support, with a particular emphasis on fostering collaboration with the Russian Federation.
"As we navigate the path to BRICS membership, we are in the process of reaching out to member countries to garner their support, and Russia, in particular, holds a significant place in our outreach efforts," stated Ambassador Jamali.
This development aligns with the recent announcement made by Russian Deputy Foreign Minister Sergey Ryabkov in early October. Ryabkov disclosed that BRICS is in the process of finalizing a list of candidates for partner-state status, a key agenda set to be addressed at the upcoming summit in Kazan in 2024, coinciding with Russia's chairmanship.
Against the backdrop of an economic crisis, a recent study reported by Nikkei Asia unveiled that China has extended approximately USD 21 billion more in loans to Pakistan over the last two decades than initially estimated. This revelation positions Pakistan as the holder of the world's largest energy portfolio funded by China, marking a significant economic tie between the two nations.
The BRICS group, initially formed as a four-nation club in 2009, has evolved over the years. With the inclusion of South Africa in 2010, and the latest move to welcome six new developing nations, namely Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates, BRICS is expanding its footprint on the global stage.
This expansion aims to create new avenues for trade, as Karin Costa Vasquez, a non-resident senior fellow at the Center for China and Globalization in Beijing, noted. Vasquez highlighted the potential for increased use of local currencies among BRICS nations, paving the way for a network of countries seeking alternatives to the US dollar.
The BRICS members convene annually to discuss a wide array of topics, including economic development, trade, investment, and political cooperation. This collaborative platform enables these influential nations to collectively address challenges and explore mutual growth opportunities, underscoring the importance of strategic alliances in the ever-evolving global landscape.
