BRICS Membership Opens Doors for Ethiopia’s Economy, Says Cuba Ambassador Nicolas

Ethiopia’s BRICS membership would open doors for new resources to the country’s economy, Cuba’s Ambassador Jorge Lefebre Nicolas said.

In an exclusive interview with ENA, Cuba’s Ambassador to Ethiopia Jorge Lefebre Nicolas said the endorsement of Ethiopia to be a member means that the country is one of the most important emerging economies in the world and Africa.

That is very important and it has opened new possibilities for the Ethiopian economy, he noted, adding that BRICS is a group of emerging economies many of which are members of the Group of 77.

It is a group of countries with some economic power that gives the possibility to open the door to new investment and transaction as well as challenge the dominance of the US currency in the international trade and commerce, Ambassador Nicolas elaborated.

As emerging economies, the countries have their own economic power and been supporting each other, he stated.

According to him, being part of this important group will enable each of the countries to have a new market for products, access to a new level of international and new monetary order that is not under the dominance of the World Bank and IMF.

“I think it is a merit of the Ethiopian economy to be accepted in this group. That gives Ethiopia a new dimension in the international policy; opens the door for new resources to insert the Ethiopian economy in the international economic system,” the ambassador added.

For Ambassador Nicolas, BRICS is a group of countries that have agreed to come together and to help each other in economy and to design a new monetary architecture of the world.

“I think they can challenge the imposition of the dominance of foreign currency, the dominance of the rich economies, and they can have a fair deal in international trade, international economy and also in their relationship with the richest countries of the North.”

The ambassador further expressed his hope that some other countries will follow Ethiopia; but for the time being the presence of Ethiopia will give Africa some voice in international economy.

He stressed that this is the multi-polarity of the economy and multiple reality in the world; and we have a group of countries that are united. They have a considerable economic weight on international relations.

That is a voice that will be heard, and Ethiopia can benefit from that.

Recall that BRICS accepted Ethiopia to join the bloc alongside Saudi Arabia, Iran, Egypt, Argentina, and the United Arab Emirates in August, 2023.

Source: Ethiopian News Agency