Libya Considers Joining BRICS Group

The BRICS group of countries is a global economic institution that aims to share benefits among member countries, and Libya welcomes any initiative that leads to global economic stability and improved living standards. Mohammed Al-Huweij, Minister of Economy and Trade of Libya’s National Unity Government (NUG), told RIA Novosti that “Libya is ready to actively participate in BRICS to benefit the country.”

Mohammed Al-Huweij emphasized that Libya “will choose the right time to join the group and take all necessary measures to contribute to global economic stability and improve the living standards of the peoples of the world.” The Libyan minister also emphasized that Libya will carefully choose the most appropriate time to do so. Since the beginning of the year, the group, which in 2006 initially included four countries – Brazil, Russia, India, and China – and was joined by South Africa in 2010, has opened in 2024 to Saudi Arabia, Egypt, Ethiopia, United Arab Emirates, and Iran, before announcing a temporary halt to the admission of new members. BRICS controls more than 30% of the world’s GDP and seeks to promote economic, trade, and financial cooperation among the countries of the so-called Global South.