Zimbabwe is moving to formalise its accession to the BRICS economic bloc, with Government preparing to submit the necessary instruments through Brazil, the grouping’s current chair, Foreign Affairs and International Trade Minister, Amon Murwira has said.
Addressing Parliament, this week, Minister Murwira said the country was finalising the accession process to secure full membership, following its admission earlier this year as a borrowing member of the BRICS New Development Bank (NDB).
“We are going to submit our instruments so that we become a full member of BRICS,” he said.
The development marks another step in Zimbabwe’s efforts to strengthen international economic relations, diversify development financing options and expand its participation in emerging global economic partnerships.
Zimbabwe’s admission to the NDB provides access to financing for infrastructure and sustainable development projects, complementing ongoing efforts to mobilise resources for national development.
Full BRICS membership is expected to further broaden opportunities for trade, investment and economic cooperation while giving Zimbabwe a greater platform to participate in discussions shaping the global economic order.
Founded by Brazil, Russia, India, China and South Africa, BRICS has expanded to incorporate other emerging economies across Africa, Asia and the Middle East.
Zimbabwe’s membership ambitions also complement the country’s engagement and re-engagement drive, which seeks to rebuild international relations, restore confidence and unlock new avenues for economic cooperation.
The initiative comes as Government pursues debt clearance and arrears settlement while seeking to restore access to international capital markets and broaden its engagement with multilateral development institutions.
