In the contemporary world where the earth is coming to a small village and entertaining harmony, the new impetus for changing the world order is badly needed. Besides, as the global economy continues to face challenges such as growing inequality, rising prices and unemployment, the need for collaboration, the issue of collaboration should not be a concern to be procrastinated even for a fraction of seconds.
Born to an innate diverging interest among founding members, Brazil, Russia, India, China and South Africa, a newly emerged bloc, (BRICS) has long aspired for bridging the vividly observed world purchasing, development, growth and fairness gap via producing organization-wide consensus on substantive matters, coming up with collective thoughts, amalgamating energies and fairly tapping resources through either investment or any other lucrative means that can pronounce a win-win approach. Since the BRICS has come to the forefront, congratulations members states, indeed!
The association of nations accounting for 45% of the world’s population, over 40% of oil production and about a quarter of the world’s exports of goods would definitely make a difference in all aspects in the near future by balancing the world to weigh at an equilibrium point, dramatically narrowing the gap if the former is impossible in case.
Undeniably, BRICS seeks to establish a united front of emerging economy perspectives in multilateral institutions. Furthermore, the group aims both to push for reform of existing institutions, such as expanding the UN Security Council, and to form negotiating blocs within those institutions.
True, it is quite essential for the BRICS business community to firmly cement ties and join forces to develop strategies that can mitigate the spillover effect of the global discrepancy. It is well remembered that on 1 January, 2024, Ethiopia joined the BRICS which previously comprised Brazil, Russia, India, China and South Africa along with other countries. Following this historic juncture, the 16th BRICS Summit closed plenary session was held under theme “Strengthening multilateralism for just global development and security.”
This is really a very important and timely move as the world over is suffering from a range of scenarios aggravating instability and terrorism. The member countries are thus expected to walk the talk to make a real difference in all aspects. One even can confidently speak that Ethiopia is a very good asset for the bloc as its government highly encourages investors from the BRICS nations to seize the enormous investment opportunities available across the nation.
Besides, the BRICS is well positioned to make a considerable inclusive economic growth and sustainable development. To fully realize this potential, all member states of the BRICS must actively work to ensure that global governance structures are more representative, inclusive and responsive to the needs of the population of member nations in particular and that of the rest of the world in general.
Yes, Russia took over the BRICS presidency and chaired the session, which aims at leading the bloc toward a new model of world order targeting balancing the whole world for prosperity, growth and stability. The very intention of the summit is to push the member states to a new model of world order discussing initiatives in the fields of science, food security, infrastructure and medicine within the BRICS framework and prosperity agendum.
Interestingly, the bloc provides a platform within which countries in the Global South can interact, as not only is the BRICS focusing on economic cooperation but it is also targeting at changing the world arrangement. As the bloc has hoped that BRICS expansion will continue, African countries need to move more coherently to have a free trade bloc and to have more economies of scale as a trade bloc. Hence, almost all nations of the world had better entertain the bloc and support the move for it is working to make the planet a fair play ground for all, instead of acting as it is given to some sects unjustly.
The government of Ethiopia has expressed readiness to play a constructive role in promoting peace and prosperity as a new member of the BRICS family in collaboration with all its members. Guided by its long-held principles and rich history of multilateralism, Ethiopia remains committed and ready to play a constructive role in promoting peace and prosperity as a new member of the BRICS family in collaboration with all its members, be they founding members or the newly born sisterly countries.
In addition to this, Ethiopia has been working from dawn to dusk with a view to boosting collaboration with other BRICS countries to exchange knowledge and best practices in sustainable forestry and reforestation as an influential bloc member.
Through partnerships with BRICS members, Ethiopia also seeks to augment its capacity to implement climate-resilient and low-carbon development strategies in alignment with the goals of the AU Agenda 2063. Such a firm collaboration can facilitate access to renewable energy technologies, financial resources, and technical proficiency among BRICS countries in a bid to further support their energy shift.
Another major concern that has to be well comprehended in this regard is that Ethiopia’s commitment to demonstrate to fight deforestation and forest degradation through the Green Legacy Initiative (GLI) has all the time been mentioned as an exemplary move towards making the earth an earthly heaven—by expanding greenery of areas as a national agendum. This momentous step taken by Ethiopia has to be well replicated by member states in particular for the purpose of bolstering the voices of BRICS countries on climate change actions and facilitating knowledge sharing and strengthening the BRICS think tank network.
The BRICS has definitely a potential to change the world apart from making member states affluent, suitable to live and work, being hub of climate resilient economic sovereignty and influential part of the globe at the bloc comprises great nations population, resource and strategic nature wise.
As stated earlier, this east African icon— Ethiopia—has all the time encouraged investors from the bloc to seize the opportunities available across its corners and it is open to all regardless of location, to mean that Ethiopia almost all the time enjoys color blind diplomacy, making economic, social and even political reforms would be as easy as possible. That is why at a plenary session of the forum in Moscow, Prime Minister Abiy Ahmed (PhD) called on those investors from BRICS countries to engage in Ethiopia particularly, in sectors such as manufacturing, agriculture, renewable energy, mining, ICT and tourism as these sectors and many other industries have held enormous potential for growth and innovation, growth and change.
Frankly speaking, Ethiopia lacks nothing despite some limitations that need to be addressed well and within the shortest time possible.
Without a shadow of doubt, Ethiopia is firmly committed to the implementation of the 2025 strategy for BRICS economic partnership, which seeks to promote sustainable development across its economic, social and environmental dimensions in an integrated and balanced manner. The 2025 strategy for BRICS economic partnership has indeed aligned with Ethiopia’s own development goals towards industrialization, food security and environmental resilience. It is attention-grabbing news these days that together, BRICS member states can achieve remarkable progress and build a future market by shared prosperity, sustainable development and economic resilience for our people.
Unequivocally, the advent of BRICS has come up with cooperation in the field of information security and the development of a code of ethics for the application of artificial intelligence, in the fight against corruption and capital flight, taxation and customs, for sustainable development; pursuit of an energy transition concept, from fossil to green energy, for instance, prioritizing national economic interests over climate goals, among others.
If truth be told, Ethiopia’s entry into the BRICS is great evidence of the growing role of the country on the international arena, and its membership to the BRICS serves as a great inspiration and it can be regarded as grand move for the nation to bring about real change and its untapped and lucrative resources used for intensifying investment, heightening production and productivity, expanding employment opportunities and even promoting democratic steps as the theme of democracy does have a direct bearing to the economic advancement. Such a remarkable move helps the nation swell its role on the global showground.
Unambiguously, Ethiopia is among the few countries who managed to be the founding member of the main international organizations including the League of Nations, United Nations and African Union among others. Ethiopia’s being a prime members of the BRICS now, next to the founding ones, itself has been conversing much about the growing role of Ethiopia at an international stage.
Yes, since Ethiopia has numerous natural and human resources, myriads of tangible and intangible heritages, economical human power, suitable landscape receiving whatever it is given for production and development, the role the country is playing, has played, will play in reinvigorating the South-South cooperation would be quite untold. The most important thing that needs to be taken into account in this regard is the tie/relationship among/ between the member states needs to be based on mutual respect and mutual trust as such a harmonious move would all the time help come up with a difference and bear yummy fruits at the end of the day.
That is why it is recurrently said that the BRICS members enjoy open and trusted relations based on the principle of sovereign equality, respect for each other’s choice of a development and progress path, and they are firmly expected to walk the talk.
In a nutshell, BRICS members have to develop a special culture of dialogue between the countries that represent different civilizations, religions and regions thereby knowing one another well and prettily foster growth and change in all aspects. BRICS members, keep up! Walk the talk, work hard and set up firm harmony thereby correcting global imbalance in terms of a range of aspects.
BY MENGESHA AMARE
THE ETHIOPIAN HERALD SATURDAY 26 OCTOBER 2024
