Chinese professors told ENA that BRICS membership will strengthen Ethiopia’s trade and investment cooperation.
In an exclusive interview, Renmin University Economics Professor and Industrial Economy Department Head Yanghua Huang said that the BRICS bloc is of multifaceted importance to developing countries.
New member countries should be ready to benefit from the emerging bloc as BRICS has many infrastructures, industrial parks and other development plans, the professor added.
The economics professor pointed out that Ethiopia’s membership to the bloc will open multifaceted opportunity for the country.
According to him, it will also enable Ethiopia to further strengthen its economic and developing cooperation the member countries.
Professor Yanghua Huang, who noted that BRICS member countries Brazil, Russia, India, China and South Africa have huge economies and large population, added that this is very beneficial.
Ethiopia’s joining the bloc will strengthen the cooperation between governments and institutions as well as improve trade and investment cooperation, the professor stated.
Moreover, he said that the New Development Bank will enable the member countries to get better financial support directly.
Professor Yanghua further pointed out that it will also create opportunity for Chinese companies to make BRICS member countries their primary investment destination.
Mentioning that this will benefit Ethiopia, he stressed that the government should do more to take advantage of the opportunities by properly identifying areas of cooperation.
As Ethiopia is a country with a large population and a large productive workforce, it is important to focus on industries that can create many job opportunities, he added.
The professor advised that focusing on industries that create jobs in the country with a large population and huge productive force is beneficial.
Minzu University Foreign Studies professor, He Keyong said on his part that Ethiopia is a very big country in history and it should learn from the civilization of forefathers and gain experience from other countries in order to ensure economic prosperity.
Ethiopia’s membership request to join the BRICS was accepted at the 15th BRICS summit held in Johannesburg last week.
Ethiopia was one of the 6 countries that were allowed to join the bloc.
In his statement following the endorsement, Prime Minister Abiy said his country’s endorsement to join the BRICS bloc will contribute a lot in realizing South-South cooperation.
Source: Ethiopian News Agency