President Arce Announces Bolivia’s Entry Into the BRICS
Bolivian President Luis Arce (C) at the BRICS summit, 2024. X/ @JorgeGestoso
January 2, 2025 Hour: 9:18 am
‘Integration into BRICS provides us with an opportunity to boost key sectors such as energy and technology,’ he said.
On Wednesday, President Luis Arce announced Bolivia’s entry into BRICS as an “associate state” and stressed that this decision provides his country with prospects for economic development.
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“Starting today, January 1, 2025, Bolivia formally joins BRICS as an associate state. This important bloc represents nearly 45% of the global population. The membership not only opens new doors for our country but also positions us to expand and diversify trade relations within a vibrant and growing market,” he stated.
The news of Bolivia’s incorporation into BRICS was shared through a letter from Russia’s Foreign Minister, Sergey Lavrov, to his Bolivian counterpart, Celinda Sosa.
“I am confident that the historic decision to establish this category, taken during the BRICS Summit in Kazan, will open a new chapter in the history of the bloc and will become another step in strengthening the positions of emerging countries on the international stage,” Lavrov wrote.
Founded in 2006, BRICS is an economic cooperation bloc is led by Brazil, Russia, India, and China. In 2023, it approved the entry of Egypt, Iran, the United Arab Emirates, Ethiopia, Argentina, and Saudi Arabia.
Bolivia applied last year to join BRICS, an interest reaffirmed by Arce to Russian President Vladimir Putin in June during his visit to Russia to participate in the St. Petersburg International Economic Forum.
“Integration into BRICS provides us with an opportunity to boost key sectors such as energy, trade, technology, manufacturing, and sustainable finance,” emphasized the Bolivian president.
“In a world filled with uncertainty due to the transition toward a new global order, being part of this bloc allows us to diversify and protect our assets, making us a relevant player within an investment platform for emerging economies with immense potential,” Arce added.
teleSUR/ JF Source: EFE
