Ethiopia’s entry into BRICS mechanism to boost economic growth, political cooperation

Addis Ababa, Ethiopia | Xinhua | Ethiopia’s entry into the BRICS mechanism is expected to facilitate the country’s economic growth, and help forge strong and lasting political cooperation with the BRICS family, Ethiopian experts have said.

BRICS leaders agreed on Thursday to invite six countries, namely Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates (UAE), to join the group. Their membership will take effect on Jan. 1, 2024.

“Working with these countries advances our economic development by attracting foreign direct investment for industrialization and infrastructure projects,” Balew Demissie, an associate professor at Addis Ababa University, told Xinhua in a recent interview.

Highlighting the potential advantages of Ethiopia’s collaboration with BRICS, the professor said “the cooperation can improve connectivity within the country and with neighboring nations, facilitate trade, promote regional integration, and create new economic opportunities.”

Demissie further emphasized Ethiopia’s aim to modernize its agricultural sector, increase productivity, and improve food production and distribution through the utilization of advanced agricultural technologies and know-how from BRICS countries.

He believes Ethiopia’s entry into BRICS can also expand the group’s influence and reach. “As an African country with a rapidly growing economy, Ethiopia can contribute to the collective strength of the platform and bring a fresh perspective to the African continent,” Demissie noted.

Mukerrim Miftah, an assistant professor at the Ethiopian Civil Service University, agreed, saying that “Ethiopia serves as a political anchor in East Africa and Africa as a whole, helping the BRICS counter the dominance of the West on the African continent.”

Miftah believes that admission to BRICS “will help Ethiopia forge strong, lasting economic and political cooperation with the BRICS family,” enabling the East African country to pursue political relations in an institutionalized and mutually beneficial manner.

“The BRICS must have seen mutual benefit in admitting Ethiopia as a member. This move will strengthen the already strong economic relationships Ethiopia has with countries like China and Russia, making those relations institutional, long-lasting, and based on trust and legal conditions,” he told Xinhua.

Miftah further underscored Ethiopia’s potential in conflict resolution, peace-building, countering terrorism and promoting sustainable development, which has contributed to its selection as a member of BRICS.

Ethiopia’s entry into the BRICS mechanism is expected to open up new avenues for economic growth, strengthen political ties, and enhance regional cooperation, making it a significant milestone in the country’s development, he said. ■