Expert: BRICS offers new opportunities for Africa’s economic growth
Dawit Mesfin, Deputy CEO of Fana Media Corporation, highlighted the potential of cooperation with BRICS in local-currency trade, infrastructure, agriculture and digital development
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Photo source: Fana Media Corporation
Dawit Mesfin, Deputy CEO of Fana Media Corporation, highlighted BRICS' potential to contribute to deeper economic integration in Africa by expanding trade in local currencies and supporting infrastructure development.
According to the expert, expanding the use of national currencies in trade can strengthen economic ties between BRICS members and other countries interested in exchanging goods and services through local currencies.
"We have to utilise our currencies; we have to expand our intra-trade relations among the BRICS countries and the other countries who are ready to participate," Dawit Mesfin said.
He also highlighted infrastructure development as an important area for cooperation between BRICS and African countries. In particular, he pointed to the potential role of the New Development Bank in financing transport infrastructure across the continent.
According to Mesfin, investment in ports, corridors, railways and highways could contribute to stronger connectivity between African countries and facilitate the movement of goods and services across the continent.
The expert also identified agriculture and digital platforms as promising areas for cooperation between Ethiopia and BRICS countries.
"We want partnership from the BRICS countries on agriculture and digital platforms. As you know, Ethiopia has a massive potential to produce different types of crops, and that will be good to export for the countries," Dawit Mesfin said.
He also said that stronger economic links, infrastructure connectivity and cooperation in key sectors could help create new opportunities for trade between Ethiopia, other African countries and BRICS members.
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