Libya has expressed interest in possible membership in BRICS, an economic organization that groups several major world economies. Mohammed al-Huwaij, Minister of Economy in Libya’s Government of National Unity, told Sputnik that Libya is ready to join an organization like BRICS and will choose the right time to do so.
Al-Huwaij explained that “the BRICS group is a global economic group for the exchange of benefits among its member states… and Libya is ready to participate in any economic organization that can benefit it.” This comment underscores Libya’s interest in the potential economic benefits that membership in BRICS could provide.
BRICS, an acronym originally standing for Brazil, Russia, India, and China, was formed to promote economic cooperation among these countries. In 2011, South Africa joined the group, changing the acronym to BRICS. In 2024, five new members joined the organization: Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates, expanding the group and increasing its global economic influence.
On July 11, a BRICS parliamentary forum opens in St. Petersburg, with Russia holding the rotating presidency of the group in 2024. The forum provides a platform to discuss the group’s goals and strategies and could be an opportunity for Libya to further signal its interest in possible membership.
The prospect of joining BRICS could offer Libya significant opportunities for economic cooperation and development as the country seeks to stabilize and revive its economy after years of internal conflict.
