BRICS members should work together to strengthen their economies – Envoy

Addis Ababa, April 16, 2024 (FBC) – The BRICS members should work together to strengthen their economies, Ethiopian Ambassador to Russia Cham Ugala Uriat has told RT.

It is vital for BRICS to create an alternative international monetary system, the Ethiopian ambassador to Russia, Cham Ugala Uriat, has told RT in an exclusive interview.

Uriat stated the bloc’s members should collaborate to enhance their economies and create a new alternative to the global monetary system.

The Shanghai-based New Development Bank (NDB), established by the BRICS states and opened for business in 2015, should be strengthened so that it can “contribute to member states of BRICS,” the ambassador argued.

Parliamentarians and ambassadors from Brazil, China, Ethiopia, Egypt, India, Iran, Russia, South Africa, United Arab Emirates familiarized themselves with the stands of Russian regions and visited the ATOM Pavilion in the Russia Expo.

“The representatives of the BRICS countries were able to see at the Exhibition the whole of Russia, all the diversity of its culture, the economic potential of the regions, as well as ample opportunities for the realization of human potential in our country,” said Grigory Karasin, Chairman of the Committee on International Affairs of the Federation Council of Russia.

The visit was part of the program of the meeting of the Chairpersons of the International Affairs Committees of the parliaments of the BRICS countries, which was held in Moscow on April 11-12 within the framework of Russia’s chairmanship in the grouping.

The BRICS group of emerging economies, previously comprised of Brazil, Russia, India, China, and South Africa, underwent a major expansion when Iran, Ethiopia, Egypt, and the United Arab Emirates joined in January of this year.