Currencies:
RUB/USD 0,0107
0,0000
BRL/USD 0,1904
0,0000
INR/USD 0,1197
0,0000
CNY/USD 0,1379
0,0000
ZAR/USD 0,5196
0,0000
Weather:
Moscow 16 °C
Brazilia 22 °C
New Delhi 35 °C
Beijing 21 °C
Pretoria 30 °C
Cairo 28 °C
Tehran 28 °C
Abu Dhabi 32 °C
Menu
Home
News
Videos
Podcasts
Menu
Иконка с часами 14 minutes 2 sec.
Ambassador of Ethiopia to Russia Uriat Cham Ugala/ “Joining BRICS is a growth opportunity for Ethiopia”
Иконка с часами 20 minutes 11 sec.
Douw Vermaak/ «Relations between Russia and South Africa are getting stronger»
Иконка с часами 8 minutes 22 sec.
Anthony Phiri, Harare Institute of Technology/"The world needs to work together to reduce greenhouse gas emissions"
18.04.2411:18 Culture
Young actors from BRICS+ countries to undergo training at one of the best theatre universities in Russia
11.04.2417:12 Economics
UAE joins media co-operation with BRICS countries through TV BRICS network
05.04.2415:17 Economics
TV BRICS to promote Cuba's co-operation with BRICS+ countries in the film industry
Эфиопия BRICS
28.02.24 15:35
Economics

Ethiopia's Accession to BRICS: Economic Growth and Political Co-operation

How membership in the association will allow a developing country to move to a different level in the global economy

Ethiopia, one of Africa's largest countries, has always been ambitious and eager for economic development. Recently, the country has joined BRICS.

BRICS membership could have a profound impact on Ethiopia and its economy. Let's look at a few potential pros and prospects of such membership.

Enhanced economic co-operation

As a developing country, Ethiopia can seek help and support from other BRICS members. They can provide technical support, expertise and funding for various projects such as infrastructure, education, health and agriculture. This would result in accelerated economic growth and improvement in the living standards of the country's people.

Ambassador Extraordinary and Plenipotentiary of the Federal Democratic Republic of Ethiopia to the Russian Federation Uriat Cham Ugala in an exclusive interview with TV BRICS said that BRICS will allow Ethiopia to move to a new economic level: “This is an opportunity for Ethiopia to grow. The BRICS countries account for about 40 per cent of the world's population. In addition, the economies of all these countries are growing rapidly. Joining the alliance opens up for Ethiopia broad prospects for co-operation in many different areas. So our leadership has many expectations.”

Develop trade relations

Membership of BRICS would give Ethiopia access to the huge markets of the member countries. Through this, export opportunities for socio-economic development in Ethiopia could increase significantly. In particular, Russian markets may be interested in Ethiopian coffee, flowers and other agricultural products, while Indian and Chinese companies may show interest in investing in telecommunications and infrastructure. This will diversify Ethiopia's economic ties with other countries and allow Ethiopia to diversify its economy.

Director of the BRICS+ International Business Forum Tatyana Seliverstova in an exclusive commentary to TV BRICS stressed that Ethiopia's accession to BRICS will continue to strengthen the African continent's position within the grouping.

“Ethiopia is the fifth largest economy in Africa. The capital is home to the headquarters of the African Union, where a series of meetings of African heads of state are held annually. Ethiopia's economy is an emerging mixed economy with strong contributions from agriculture and industry, which account for more than 50 per cent of the country's GDP. Ethiopia's accession to BRICS will definitely be important in the direction of integration and economic co-operation between African countries and BRICS member states. I am convinced that it is necessary to involve all African countries more actively in the BRICS+ format, thus creating additional opportunities for trade and investment partnerships. Ethiopia should demonstrate to other African countries the real mechanisms of co-operation within the BRICS framework.“

South-South cooperation

Ethiopian Prime Minister Abiy Ahmed has said his country's membership in BRICS is beneficial as the grouping promotes co-operation in countries to the south.

In response to questions from parliamentarians, he said Ethiopia's foreign policy is based on mutual benefit, respect for national interests and sovereignty and their accession to BRICS will boost co-operation with other members of the group. He expressed gratitude to BRICS for their support. At the same time, Ahmed emphasised that Ethiopia's joined the group in line with the country's foreign policy.

"We hope our membership into the BRICS mechanism would be advantageous to Ethiopia," Ahmed told the Ethiopian parliament.

Technology Exchange

The BRICS partnership will offer Ethiopia a unique opportunity to exchange advanced technologies and innovations. Member countries have significant expertise in sectors ranging from information technology to medicine and agriculture. Such exchange can accelerate technological progress and contribute to the development of Ethiopia's infrastructure and industry.

Photo: IStock
Short
and to the point
Once a week we will cover news in the BRICS countries
By clicking on the "Subscribe" button, you agree to the processing of personal data

MORE ON THE TOPIC

19.04.2411:45 Economics
Lula da Silva favours creation of South American bank
19.04.2409:05 Economics
South Africa's consumer inflation falls in March
18.04.2416:16 Economics
India to step up digital co-operation with Angola
18.04.2408:31 Economics
China's central bank keeps medium-term interest rate
17.04.2414:17 Economics
Tehran and Moscow finalise draft contract to implement agreement on construction of Rasht-Astara Railway
17.04.2413:30 Economics
Brazilian government sets 2025 fiscal target of zero primary deficit
19.04.2411:18 Personalities
Russian Deputy Foreign Minister Sergey Ryabkov: BRICS moves forward, creating important precedent
17.04.2415:35 Personalities
President of Russian Chamber of Commerce and Industry Sergey Katyrin: experts expect BRICS to account for 90 per cent of global GDP by 2050
12.04.2414:17 Society
Patricia Villegas Marin, President of teleSUR, one of the largest agencies in Latin America: BRICS is hope
Short
and to the point
Once a week we will cover news in the BRICS countries
By clicking on the "Subscribe" button, you agree to the processing of personal data