Russian president Vladimir Putin, leader of BRICS, the emerging-markets bloc of Brazil, Russia, India, China and South Africa, has called Ethiopia’s integration into the group an ‘important step’, hailing the nations’ proximity.
Their diplomatic ties date back more than a century.
“Our countries’ positions on most global and regional issues are often quite close. We appreciate that Ethiopia supports most Russian initiatives in the United Nations,” Putin said as Ethiopian President, Abiy Ahmed, attended his first ever BRICS summit.
In his remarks at the event held in Kazan, Russia, Ahmed called for strong Intra -BRICS trade in key sectors and investment.
He presented his country as the third largest economy in Sub-Saharan Africa.
Ethiopia formally joined the group of emerging economies earlier this year.
It is one of the newest members of the block.
BRICS countries have shown determination to achieve their vision of a multipolar world, amplifying the voices of the Global South.
Some members have even touted the bloc as a counterbalance to the Western-dominated world order.
The bloc had in January 2024 issued a statement that Ethiopia, Egypt, Iran, Saudi Arabia and United Arab Emirates (UAE) have officially joined the bloc.
Ethiopia’s bid to join the BRICS was endorsed in August 2023 during the 15th BRICS Summit held in Johannesburg, South Africa.
In his statement following the decision, Prime Minister Abiy said Ethiopia’s endorsement to join the BRICS bloc will contribute a lot in realizing the South-South cooperation.
Checks by Diaspora Digital Media indicate that BRICS controls about 40 percent of the world population and an equivalent amount of the economy as the countries now have higher economic values than G-7.
Ethiopia’s membership in the BRICS group is expected to bring significant benefits for its economic development, regional integration, and international cooperation.
The membership will have a lot of impact in terms of international trade and the main agenda is to transform the multi-lateral system into some kind of an equitable system where countries will deal with each other on a sovereign basis.