2 hrs ago
Pakistan’s BRICS Bid Stalls as India Opposes Entry
Pakistan wants to join BRICS, a group of major emerging economies.
It officially applied in 2023.
BRICS later admitted Egypt, Ethiopia, Iran and the United Arab Emirates.
Pakistan’s application has still not been approved.
New members need agreement from all existing members.
India opposes Pakistan’s entry, so the application is stalled.
Russia and China have supported Pakistan’s request.
Pakistan says membership could help it cooperate internationally and support inclusive decision-making.
It also invested $580 million in the BRICS-backed New Development Bank to find more financing options.
Pakistan formally applied to join BRICS in 2023, but its membership remains unresolved.
BRICS admitted Egypt, Ethiopia, Iran and the United Arab Emirates during its expansion into BRICS+.
India’s opposition prevents consensus, while Russia and China have supported Pakistan’s bid.
Pakistan bought a $580 million stake in the BRICS-backed New Development Bank to diversify financing.
The expanded BRICS grouping represents about 49% of the world’s population and 40% of global GDP by purchasing power parity.
- Who
- Pakistan is seeking membership, while India opposes its entry; Russia and China support Pakistan’s bid.
- What
- Pakistan’s 2023 application to join BRICS remains stalled.
- Where
- The application concerns membership in the BRICS grouping of emerging economies.
- When
- Pakistan applied in 2023, after which BRICS expanded and admitted four new members.
- Why
- Pakistan says membership could promote international cooperation and inclusive multilateralism; its economic challenges have also encouraged it to seek new financing options.
Pakistan’s Membership Case
India’s Opposition
Prospects for admission
Pakistan’s Membership Case
Pakistan says joining BRICS would allow it to contribute to international cooperation and revitalise inclusive multilateralism, and it has sought support from member countries.
India’s Opposition
India opposes Pakistan’s entry, and the consensus-based admission process means that opposition prevents approval by the existing members.
Economic rationale
Pakistan’s Membership Case
Pakistan is pursuing membership amid economic challenges and has invested in the New Development Bank to diversify financing and reduce dependence on the World Bank and the International Monetary Fund.
India’s Opposition
The reports describe India’s opposition but do not state its reasons for opposing Pakistan’s membership.
Key facts
- Application
- Pakistan formally requested BRICS membership in 2023.
- Admission process
- New BRICS members require unanimous approval from all existing members.
- Reported obstacle
- India’s opposition has kept Pakistan’s application stalled.
- BRICS expansion
- Egypt, Ethiopia, Iran and the United Arab Emirates were admitted during the expansion described in the reports.
- New Development Bank stake
- Pakistan purchased a $580 million stake in the BRICS-backed New Development Bank.
- Pakistan GDP growth
- The Pakistan Economic Survey reported a GDP growth rate of 3.70%.
- BRICS scale
- The expanded grouping represents around 49% of the world’s population and about 40% of global GDP by purchasing power parity.
Quotes
Mumtaz Zahra Baloch
Pakistan Foreign Office spokesperson
“We believe that by joining BRICS, Pakistan can play an important role in furthering international cooperation and revitalising inclusive multilateralism”
NDTV
freepressjournal.in
“We also hope that BRICS will move forward on Pakistan's request in line with its commitment to inclusive multilateralism,”
NDTV
freepressjournal.in
Sources
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