Libya’s Investment Minister, Ali Al-Saidi Al-Qaidi, has expressed optimism about the economic opportunities that could arise if Libya joins the BRICS group. Established in 2006, BRICS includes Brazil, Russia, India, China, and South Africa, and recently expanded to include Egypt, Ethiopia, Iran, the UAE, and Saudi Arabia, which, although not yet formalized, actively participates in BRICS meetings.
Al-Qaidi highlighted that Libya’s potential membership could pave the way for significant economic advancements, particularly in reducing the nation’s dependence on the US dollar. “Joining BRICS will open up excellent economic prospects that will help Libya free itself from the dependence on the US dollar,” he stated. However, he noted that achieving this goal necessitates a strong political decision.
Earlier, Libyan Foreign Minister Abdul Hadi Al-Hweij indicated that the eastern-based Government of National Stability is seriously exploring the possibility of joining BRICS. This move could provide Libya with new avenues for investment and trade, potentially transforming its economic landscape.
As Libya considers its future in the context of BRICS, the call for decisive political action underscores the importance of aligning national interests with broader economic goals in a rapidly changing global environment.
