Bangladesh in Talks to Join BRICS Sources Confirm Dhaka s Formal Application

Bangladesh has formally submitted its application to join the BRICS alliance, multiple diplomatic sources confirmed on Thursday, marking a significant shift in the country's foreign policy orientation. The move, which had been speculated for months, was officially communicated to the current BRICS chair, Russia, through diplomatic channels earlier this week.

Foreign Minister Hasan Mahmud, speaking to reporters in Dhaka, declined to confirm the application directly but stated that Bangladesh is "actively exploring all multilateral platforms that serve our national interests." He emphasized that any decision would be made after thorough consultations with all stakeholders, including existing trade partners.

The application comes as BRICS, originally comprising Brazil, Russia, India, China, and South Africa, has expanded to include Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates this year. The bloc now represents over 40% of the world's population and about a quarter of global GDP.

Analysts view Bangladesh's interest as a strategic move to diversify its economic partnerships beyond traditional allies. "Bangladesh has been heavily dependent on Western markets and international financial institutions," said Dr. Ayesha Rahman, a political analyst at the University of Dhaka. "Joining BRICS could provide alternative sources of investment and development financing, especially from China and Russia."

The development comes amid Bangladesh's ongoing negotiations with the International Monetary Fund for a $4.7 billion loan program and as the country faces pressure to reduce its reliance on remittances and the ready-made garment sector.

However, the application has raised concerns among some Western diplomats. A European Union official, speaking on condition of anonymity, told reporters that Brussels is "closely monitoring" Bangladesh's evolving foreign policy. "We hope Dhaka will maintain its commitment to democratic values and human rights," the official said.

Bangladesh's potential membership would require consensus among all current BRICS members. Sources indicate that China and Russia have been particularly supportive, viewing Bangladesh as a key player in the Indo-Pacific region. India, which shares close ties with Bangladesh, is also expected to back the application, though New Delhi has not issued an official statement.

The BRICS summit, scheduled for October in Kazan, Russia, is expected to discuss the expansion further. If accepted, Bangladesh would become the second South Asian nation in the bloc after India.

Domestically, the news has generated mixed reactions. The ruling Awami League party has welcomed the move, calling it a "historic step" toward economic independence. Opposition parties, however, have criticized the government for not being transparent about the application process.

"This decision has far-reaching implications for our sovereignty and foreign policy," said Ruhul Kabir Rizvi, a senior leader of the Bangladesh Nationalist Party. "The government should have consulted parliament before making such a significant move."

Economists have pointed out potential benefits, including access to the BRICS New Development Bank, which could offer loans with more favorable terms than Western institutions. Bangladesh's infrastructure needs, estimated at over $100 billion annually, could be partially met through such funding.

However, experts caution that membership also comes with obligations. "Bangladesh will need to align its trade policies with BRICS standards and may face pressure to take stances on geopolitical issues," said Dr. Rahman. "It's a delicate balancing act."

The foreign ministry has scheduled a press conference for next week to provide more details. Meanwhile, the stock market in Dhaka showed modest gains following the news, with investors optimistic about potential new economic opportunities.