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07.10.24 13:30

Society

Ethiopia to strengthen trade and economic relations through BRICS membership

The country aims to expand trade and attract Russian investors for the establishment of economic zones

Ethiopia is set to harness its recent BRICS membership to reinforce its trade and economic relations with member nations, focussing particularly on Russia. This is reported by Fana Broadcasting Corporate (FBC), a partner of TV BRICS.

Ethiopia's newly appointed Ambassador to Moscow, Genet Teshome, expressed Ethiopia's eagerness to use its BRICS membership to attract foreign investment, increase trade volumes, and foster stronger economic ties with other BRICS countries, especially Russia. He highlighted the potential to expand trade and attract Russian investors for the establishment of economic zones or industrial parks within Ethiopia.

As Ethiopia looks forward to the upcoming BRICS Summit in Kazan, Russia, at the end of October, the ambassador reiterated Ethiopia's active involvement in the group's initiatives and expressed high expectations for a successful summit. He also confirmed Ethiopia's dedication to contributing to the New Development Bank and supporting the overall agenda of BRICS.

Photo: iStock

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Aleksander Alimov

Deputy Minister of Foreign Affairs of Russia

"We are convinced that the only way to make the information space more stable, secure and predictable is through international cooperation. No country is capable of countering cross-border ICT threats on its own. There is a need to develop common rules of the game applicable to all, which would regulate the actions of states and their companies in the digital sphere. [...] The first step in this direction has already been taken with the adoption by the UN General Assembly in December 2024 and the signing in October 2025 of the UN Convention against Cybercrime, developed at Russia’s initiative. This is the first universal treaty in the field of international information security. Seventy-five countries have signed the document. We call on all countries to sign and ratify this Convention"

Batyr Berdyklychev

World Health Organisation Representative in Russia

"International cooperation can help detect risks quicker, also exchange the results of research and coordinate the response measures. Without this coordination, the consequences of the global crisis could be heavier. [...] We are witnessing the world becoming more and more interconnected and interdependent. Every outbreak of infection in one region can be a potential threat globally. The experience shows us that the resilience of healthcare systems affects economic stability, the national security of states and public trust"

Xi Jinping

President of the People’s Republic of China

"As permanent members of the UN Security Council and important major countries in the world, China and Russia should take a strategic and long-term perspective, drive the development and revitalisation of our respective countries through comprehensive strategic coordination of even higher quality, and work to make the global governance system more just and reasonable"

Mikhail Mishustin

Chairman of the Government of the Russian Federation

"In Russia, it is expanding at nearly twice the pace of the rest of the information technology sector. Over half of all enterprises are actively engaged in the implementation of such technologies. We witnessed this at practically every stand"

Dilma Rousseff

President of the New Development Bank

"The Bank will be strengthening its role as a platform for cooperation among its members, supporting initiatives in digital infrastructure, energy transition, advanced low-carbon energy technologies, intelligent hospitals, and all sorts of innovation, amplifying the comparative advantages of our member countries. […] NDB will continue to pursue gradual, balanced membership expansion and strengthen its role as a unified voice and platform for the Global South, amplifying members' priorities and mobilising collective solutions to share developing challenges"

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