Ethiopia’s entry to BRICS demonstrates diplomatic success, perseverance: GCS
Addis Ababa, August 24, 2023 (FBC) – The BRICS’ decision to invite Ethiopia to join the economic bloc as its full member manifests diplomatic success and perseverance, according to the FDRE Government Communication Service (GCS).
Mentioning the requests made by 40 countries, including Ethiopia, to join the bloc, GCS reminded today’s decision by the bloc to invite Ethiopia, Saudi Arabia, United Arab Emirates, Egypt, Iran and Argentina to join the BRICS family.
Ethiopia’s joining the bloc will bring many economic advantages, GCS asserted.
Besides to increasing its influence at the international level, it opens the door for various infrastructure projects to receive financing through the economic bloc’s development bank, it is stated
According to GCS, the bloc’s development bank is an alternative to the existing international financial institutions. “This is a very important issue in terms of mitigating the shortage of foreign currency sustainably. Since the prospect of commercial, cultural and political ties between the BRICS member countries are at an advanced level, Ethiopia’s admission to the bloc will further increase its diplomatic influence.”
GCS noted that in terms of investment, the cooperation of BRICS member countries will be a source of additional economic growth for Ethiopia. The BRICS’ membership will have its own role in protecting Ethiopia’s national interests in the Horn of Africa.
Ethiopia’s entry to this economic bloc was done in pursuant to its multilateral diplomatic engagements, the Government Communication Service said, asserting that this success is testament to the country’s diplomatic efforts and perseverance.
GCS also thanked the friendly countries that supported the process.
It is underlined that Ethiopia will continue to carry out multifaceted diplomatic activities to defend its national interests. It will continue to strengthen and implement viable strategies by evaluating the dynamics of global phenomenon.