Pakistan's BRICS membership bid remains stalled

Pakistan remains outside the BRICS bloc despite formally applying for membership in November 2023. While the grouping has expanded to include nations such as Egypt, Ethiopia, Iran, and the United Arab Emirates, Islamabad’s bid has stalled.

Economic stability is a primary driver for Pakistan’s pursuit of membership. Seeking to reduce its reliance on traditional Western-led institutions like the International Monetary Fund (IMF) and the World Bank, Pakistan has moved closer to the BRICS-backed New Development Bank (NDB). Reports indicate the government purchased a stake in the NDB worth approximately $580 million to broaden its financing options.

Although Pakistan has sought diplomatic support from major members like China and Russia, consensus among existing members is required for new entries. Analysts point to India’s position within the bloc as a significant hurdle, as the requirement for member agreement effectively grants a veto to existing participants.