The Cabinet of Ministers has granted approval to a resolution furnished by the Minister of Foreign Affairs Ali Sabry to apply for the membership in BRICS and the New Development Bank established under it.

A decision was taken at the meeting of the Cabinet of Ministers held on 24.01.2024 to appoint an officers’ committee for forwarding appropriate recommendations followed by investigating matters relevant to Sri Lanka’s access to BRICS organization.

Accordingly, the officer’s committee appointed thereof had submitted the committee report subsequent to looking into the advantages and disadvantages of having access to the New Development Bank established under the BRICS organization as well as to it.