ADDIS ABABA – The economic exchange between Ethiopia and India is growing as the two key players in the developing world are members of the BRICS bloc, Indian Ambassador to Ethiopia said.
In an exclusive interview with The Ethiopian Herald yesterday, Ambassador Anil Kumar Rai highlighted that both nations have maintained strong diplomatic and economic ties, reinforced by high-level exchanges and collaborative summits.
In August, India hosted the Global South summit, where Ethiopia’s Prime Minister represented the African continent. The summit was instrumental in underlining the importance of Ethiopia’s role within the Global South, since the east African nation officially joined BRICS, a platform for continued cooperation among major developing economies, he said.
The Ambassador noted that Ethiopia’s inclusion in BRICS will further strengthen its ability to influence global discussions and growth models within the African context.
“Ethiopia’s history, economy, and youthful population make it unique not only in Africa but also among developing nations,” he remarked.
He added that Ethiopia’s recent policy reforms have the potential to transform its economic landscape, with BRICS providing opportunities to exchange knowledge and explore alternative growth models.
This, in turn, could inspire other African nations, he added.
Furthermore, BRICS offers Ethiopia the potential to benefit from initiatives like trading in local currencies and exploring a unified BRICS currency. Such mechanisms, along with economic liberalization policies, could help making Ethiopia’s economy more resilient and self-reliant, the Ambassador commented.
Through these partnerships and multilateral forums, India and Ethiopia continue to strengthen their diplomatic and economic relations, contributing to mutual growth and stability, he noted.
BY YESUF ENDRIS
THE ETHIOPIAN HERALD SATURDAY 14 SEPTEMBER 2024
