Russia Backs Ethiopia’s BRICS Membership Request

August 4, 2023

ADDIS ABABA- Russian Ambassador to Ethiopia said the latter’s request to join the emerging market block of Brazil, Russia, India, China and South Africa (BRICS) is an agreeable move that his country firmly supports.

Ambassador Yevgeny Terekhin told FBC that BRICS has been expanding itself and becoming an international emerging organization since the past few years.

“Several countries have formally requested to join the bloc and I am happy to hear that Ethiopia is one of them requesting membership. We give special attention to Ethiopia’s request to be part of the BRICS and we support this move.”

According to the Ambassador, BRICS will discuss the agenda of opening itself for new members and its expansion to the rest of the world. “The BRICS members will discuss the expansion of the group and the way this can be achieved in the forthcoming Johannesburg’s Summit and we need to wait for their decision.”

BRICS member states are also integrating their trade exchanges that help them to counter the West’s dominance in the global order and liberating themselves from the latter’s economic pressure, he elaborated.

In this regard, China and Russia are making bold steps in de-dollarization and have carried out their trade exchange using the Chinese Yuan (90 percent) and Russian Ruble. The trade volume between the two BRICS member countries is also intensifying following their decision to use local currencies.

“Moreover, the Russian government is negotiating with some other countries to use local currencies for bilateral and multilateral trades and we are drafting plans and mechanisms to this end,” Ambassador Terekhin remarked.

Ethiopia officially requested to join the BRICS bloc late last June.

 BY YESUF ENDRIS

 THE ETHIOPIAN HERALD  4 AUGUST 2023