Colombia has confirmed it has joined the New Development Bank (NDB), the financial investment arm of the BRICS group. Colombia had requested membership in the NDB in May of this year, amid tensions with the United States over President Trump’s tariff war and Colombia’s joining China’s Belt and Road Initiative.
Colombia’s Minister of Foreign Affairs, Laura Sarabia, said, “I welcome the news, which transcends financial matters and broadens our horizons. Colombia officially joins the BRICS bank led by Dilma Rousseff following the request made by President Gustavo Petro in Shanghai. We continue forging new paths toward opportunities for the country.”
However, although Colombia can access resources and financing for diverse projects financed by BRICS, it is not a member of the BRICS bloc itself. In this regard, Colombia’s relationship with the BRICS bank will mirror the one it currently has with the Inter-American Development Bank (IDB).
With a population of approximately 52.9 million, Colombia’s GDP (PPP) stands at around US$1.130 trillion, and its GDP per capita (PPP) is US$20,470. The country’s GDP growth for 2025 is projected to be 2.0%.
Last year, Colombia-Russian bilateral trade reached about US$450 million. Colombia exported agricultural products, including beef (the Russian market is the largest in the world for Colombian beef), tropical fruits, coffee, cocoa, and flowers.
Source: Russiaspivottoasia
