Ethiopia offers significant investment and trade opportunities for BRICS nations, says PM Abiy Ahmed

Addis Ababa, October 18, 2024 (FBC) – In his video message at the plenary session of the BRICS Business Forum in Moscow, Prime Minister Abiy Ahmed (PhD) stated that BRICS countries represent nearly half of the global population and over a third of the global GDP.

With such significant influence, BRICS is well positioned to make a substantial contribution to global economic growth and sustainable development, the Prime Minister underscored.

“To fully realize this potential, we must actively work to ensure that global governance structures are more representative, inclusive and responsive to the needs of developing and emerging economies,” he stressed.

“Today’s international financial architecture does not fully align with the aspirations of emerging economies and, fall short of supporting the acceleration of sustainable development. That’s why we advocate for comprehensive reform of the global financial system to establish a more equitable framework,” the Premier noted.

“At the same time, BRICS itself should set an example by expanding mutually beneficial economic cooperation within its own membership. By becoming a model for economic collaboration, BRICS can serve as a standard barrier for reformed global financial systems that not only address the needs of its members, but also support the development objective of other emerging developing economies.”

Ethiopia’s rapidly expanding economy presents significant opportunities for investment, economic, and trade cooperation, particularly for BRICS nations, Prime Minister Abiy Ahmed pointed out.

“Ethiopia is endowed with abundant natural and agricultural resources, offering access to large and diverse markets across Africa and beyond,” he stated.

“This advantage is further strengthened by our national airline, the largest airline in Africa, and a leader in international cargo and passenger transport. Additionally, our affordable and increasingly renewable energy infrastructure, coupled with a young, skilled and trainable workforce, positions Ethiopia as an attractive destination for investment,” he added.

“In recent years, we have implemented bold economic reforms aimed at making our economy even more business -friendly. These transformative measures include the liberalization of key sectors such as telecommunications and finance.”

Ethiopia has also adopted a market -based foreign exchange regime, creating a more conducive environment for foreign direct investment, he remarked, adding: “These changes are designed to ensure that Ethiopia is well -equipped to compete in the global market and to offer significant returns for investors.”

By Wondesen Aregahegn