Ethiopia's joining the BRICS family could facilitate deeper South-South cooperation, and allow the East African country to improve access to various international markets and technologies.
ADDIS ABABA, Oct. 26 (Xinhua) -- Ethiopia's admission to BRICS will accelerate the country's sustainable development and create win-win partnerships with the bloc's member states, an Ethiopian scholar has said.
Balew Demissie, a communication and publication consultant at the Policy Studies Institute of Ethiopia, told Xinhua recently that Ethiopia's accession to the BRICS family could significantly boost the country's socio-economic development through various economic opportunities, including increased investment, expanded South-South cooperation and trade partnerships.
"The BRICS countries offer Ethiopia a platform to attract more foreign direct investment by leveraging its young, low-cost labor force and rich natural resources," said Demissie, noting that the ongoing industrialization and infrastructure developments in the East African country align with BRICS investment interest, especially in manufacturing and agriculture sectors.
With a population of more than 120 million, Ethiopia ranks second in Africa in terms of population, only after Nigeria.
The scholar said Ethiopia's application to join the BRICS mechanism had been primarily driven by its strategic economic ambitions and desire for increasing international collaboration in a multilateral world that promotes a fairer international economic order.
He said Ethiopia's joining the BRICS family could facilitate deeper South-South cooperation, and allow the East African country to improve access to various international markets and technologies.
"Joining BRICS can improve Ethiopia's trade logistics and integration into global supply chains," said the scholar, highlighting the country's growing demand to diversify its export base.
The scholar said BRICS serves as a motivation for Ethiopia to enhance its institutional and governance capabilities in line with those of other member countries and the various organizations within the bloc, including the New Development Bank.
"I hope this opportunity will strengthen the capacity of the National Bank of Ethiopia and other government offices to align their human resource skills, working procedures, rules, and policies with those of the bloc," Demissie said.
According to the scholar, most Ethiopians know that the major infrastructure developments in the country -- such as roads, bridges, hospitals, office buildings, railways, transportation systems, and airport terminals -- are largely undertaken by the BRICS Plus countries, especially China.
"Joining BRICS helps Ethiopia gain access to financial support for its key infrastructure and sustainable development projects. These financial supports are critical to addressing its vital investment needs, particularly in areas such as transportation, energy and healthcare," he said.
The scholar said that other than taking advantage of the improved trade relations with the BRICS countries, Ethiopia would make use of the bloc to further promote people-to-people exchanges and cultural ties, and share best experiences and practices in areas such as education and health sectors.
The scholar stressed that Ethiopia's commitment to environmental protection also aligns with those of the BRICS countries, which would enable the country to champion joint initiatives in the areas of climate change, renewable energy development and sustainable resource management.
As a major developing country in Africa, it is widely believed Ethiopia's influence in the region will become an important asset of the BRICS mechanism, he said.
Ethiopia is a founding member of the African Union (AU) and one of the first African countries to join the UN. Ethiopia's capital Addis Ababa is also home to the headquarters of the AU and the UN Economic Commission for Africa. The city is known as the "political center of Africa."
"Ethiopia plays a critical role in promoting stability and peace in the Horn of Africa, and its participation in BRICS can strengthen collective efforts to address regional conflicts and enhance security cooperation," Demissie said.■