Sri Lanka has decided to formally apply for BRICS membership. External Affairs Minister Bijitha Herath announced on Monday.

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Herath said in the capital Colombo that the membership request will be submitted at the upcoming BRICS summit in Kazan, Russia on October 23-24. Sri Lanka's Foreign Secretary will represent the summit.

Sri Lanka has already approached BRICS countries, including Brazil, Russia, India, China and South Africa, for support, Herath confirmed.

Besides, in a statement of the Ministry of Foreign Affairs, Herath also said, 'We consider BRICS as an effective partnership to realize the aspirations of mutually beneficial cooperation, peace and development through strong and inclusive multilateralism within the framework of the UN Charter.'

Sri Lanka is struggling with an economic crisis and ongoing debt restructuring efforts. The island nation seeks to secure BRICS membership as a pathway to greater international support and cooperation to revive the economy.

BRICS was established in 2009 with the four countries Brazil, Russia, India and China. Later in 2010, South Africa joined. In 2024, Saudi Arabia, Iran, Egypt, United Arab Emirates and Ethiopia became new members of this alliance.

BRICS has already surpassed the G-7 economies in terms of total contribution to global GDP. BRICS accounts for one-fourth of the world's GDP. In this situation, the inclusion of dozens of new interested countries in the alliance to challenge the Western superpowers led by Beijing and Moscow has long been discussed.