The Libyan Investment Minister of the Parliament-designate government, Ali Al-Saeedi, has stated that joining the BRICS group could unlock significant economic opportunities for Libya. However, he emphasised that such a move requires strong political will to be realised.
Al-Saeedi highlighted that membership in the BRICS bloc would help Libya diversify its economy and reduce its reliance on the US dollar. He believes that aligning with BRICS countries would provide the country with access to alternative financial systems and global markets.
“The economic prospects are excellent, but the decision to join BRICS needs firm political resolve,” Al-Saeedi told Sputnik news.
BRICS currently consists of Brazil, Russia, India, China, and South Africa. Recently, the group has expanded to include new members, such as Egypt, Ethiopia, Iran, the UAE, and Saudi Arabia. Although Saudi Arabia has not formalised its membership, it has actively participated in BRICS meetings.
The minister also noted that becoming a BRICS member would allow Libya to explore partnerships with emerging economies, helping the country reduce its dependence on Western financial institutions.
Libya’s possible entry into BRICS is viewed as part of a broader strategy to strengthen economic cooperation with non-Western countries, aligning itself with global shifts toward multipolar financial systems.
