#China indicates it “will suspend” #Ethiopia’s payments on debt maturing in the period 2023/2024: PMO
President Xi Jinping of China “indicated that China will suspend payments on debt maturing in the period 2023/2024 as part of the common framework agreement,” office of PM Abiy Ahmed said.
The two leaders met ahead of the BRICS-Africa Outreach and #BRICS Plus meeting in #Johannesburg, #South_Africa.
According to the official readout from PM Abiy’s office, the two leaders “expressed mutual interest in further strengthening the relations between both countries and commitment to partnership in multilateral platforms.”
“President Xi Jinping also expressed admiration for the Prime Minister’s leadership in spearheading national development and vowed to support progress in peace and development endeavours, in the areas of reconstruction as well as in enhancing investments and trade ties,” the office of PM Abiy further said.
President Xi Jinping of China “indicated that China will suspend payments on debt maturing in the period 2023/2024 as part of the common framework agreement,” office of PM Abiy Ahmed said.
The two leaders met ahead of the BRICS-Africa Outreach and #BRICS Plus meeting in #Johannesburg, #South_Africa.
According to the official readout from PM Abiy’s office, the two leaders “expressed mutual interest in further strengthening the relations between both countries and commitment to partnership in multilateral platforms.”
“President Xi Jinping also expressed admiration for the Prime Minister’s leadership in spearheading national development and vowed to support progress in peace and development endeavours, in the areas of reconstruction as well as in enhancing investments and trade ties,” the office of PM Abiy further said.
Breaking: #Ethiopia among six countries accepted to #BRICS
BRICS Leaders have reached consensus on the expansion guidelines of admission to BRICS.
Accordingly #Argentina, #Egypt, #Ethiopia, #Iran, #Saudi_Arabia and the #UAE will be full members of BRICS with effect from 1 January 2024:
BRICS Leaders have reached consensus on the expansion guidelines of admission to BRICS.
Accordingly #Argentina, #Egypt, #Ethiopia, #Iran, #Saudi_Arabia and the #UAE will be full members of BRICS with effect from 1 January 2024:
News Update: #Ethiopia joins #BRICS as the bloc welcomes six new members
An expert closely monitoring the Ethiopian economy has hailed Ethiopia’s membership in the BRICS bloc as a significant diplomatic triumph, possibly the most substantial accomplishment during Prime Minister Abiy’s five-year reign.
The expert told Addis Standard that although the economic benefit is not that much, Ethiopia’s admission will improve investor perception and provides alternatives for external development finance.
However the expert cautioned that Ethiopia’s decision to join the BRICS group should not be overemphasized, as “the group and its banks are still under the heavy influence of China. Hence, these all things would not happen instantly and will be determined by geopolitics, and how Ethiopia positions itself”.
Furthermore, becoming a member of this group and the new development bank entails a substantial financial commitment. “This poses a challenge for Ethiopia, given its significant resource deficit, particularly in terms of foreign currency, and the burden of heavy debt repayment obligations”, the expert said.
https://addisstandard.com/news-update-ethiopia-joins-brics-as-the-bloc-welcomes-six-new-members/
An expert closely monitoring the Ethiopian economy has hailed Ethiopia’s membership in the BRICS bloc as a significant diplomatic triumph, possibly the most substantial accomplishment during Prime Minister Abiy’s five-year reign.
The expert told Addis Standard that although the economic benefit is not that much, Ethiopia’s admission will improve investor perception and provides alternatives for external development finance.
However the expert cautioned that Ethiopia’s decision to join the BRICS group should not be overemphasized, as “the group and its banks are still under the heavy influence of China. Hence, these all things would not happen instantly and will be determined by geopolitics, and how Ethiopia positions itself”.
Furthermore, becoming a member of this group and the new development bank entails a substantial financial commitment. “This poses a challenge for Ethiopia, given its significant resource deficit, particularly in terms of foreign currency, and the burden of heavy debt repayment obligations”, the expert said.
https://addisstandard.com/news-update-ethiopia-joins-brics-as-the-bloc-welcomes-six-new-members/
Addis Standard
News Update: Ethiopia joins BRICS as bloc welcomes six new members - Addis Standard
News Update: Ethiopia joins BRICS as bloc welcomes six new members Addis Standard News -
#Ethiopia - #India hold bilateral talks on boosting ties in #defense, #science and #technology, #trade
Prime Minister Abiy Ahmed and Prime Minister Narendra Modi of India held "fruitful talks" where the two discussed "ways to boost ties in sectors like trade, defense and people-to-people relations," according to PM Modi.
The two leaders met for the bilateral talks on the side of the ongoing #BRICS summit taking place in south Africa. PM Modi said he congratulated PM Abiy on "Ethiopia joining BRICS."
In a short video reflecting Ethiopia's prospective admission to BRICS, PM Abiy earlier mentioned about the bilateral meeting with PM Modi and said the two countries agreed to work together in science and technology, defense, trade and investment areas. AS
Prime Minister Abiy Ahmed and Prime Minister Narendra Modi of India held "fruitful talks" where the two discussed "ways to boost ties in sectors like trade, defense and people-to-people relations," according to PM Modi.
The two leaders met for the bilateral talks on the side of the ongoing #BRICS summit taking place in south Africa. PM Modi said he congratulated PM Abiy on "Ethiopia joining BRICS."
In a short video reflecting Ethiopia's prospective admission to BRICS, PM Abiy earlier mentioned about the bilateral meeting with PM Modi and said the two countries agreed to work together in science and technology, defense, trade and investment areas. AS
#BRICS: The West reacts to plans for enlargement
US national security advisor Jake Sullivan has said that the BRICS bloc is not a geopolitical rival to the United States because their interests are too different.
Germany foreign minister Annalena Baerbock said is it's really not that big a deal, and perfectly legitimate for countries to be looking elsewhere for alliances in the globalized world of 2023.
"The BRICS summit has established historic facts. This will significantly increase the international importance of BRICS, even if there are appreciable differences between its members," said Reinhard Bütikofer, the foreign policy coordinator of the Greens in the European Parliament.
https://www.dw.com/en/brics-the-west-reacts-to-plans-for-enlargement/a-66636169
US national security advisor Jake Sullivan has said that the BRICS bloc is not a geopolitical rival to the United States because their interests are too different.
Germany foreign minister Annalena Baerbock said is it's really not that big a deal, and perfectly legitimate for countries to be looking elsewhere for alliances in the globalized world of 2023.
"The BRICS summit has established historic facts. This will significantly increase the international importance of BRICS, even if there are appreciable differences between its members," said Reinhard Bütikofer, the foreign policy coordinator of the Greens in the European Parliament.
https://www.dw.com/en/brics-the-west-reacts-to-plans-for-enlargement/a-66636169
DW
BRICS expansion plans: US, Germany remain relaxed
The BRICS countries — Brazil, Russia, India, China and South Africa — want to add six new members to their group on January 1, 2024. The West is playing it cool.
#BRICS expansion: The group is getting stronger
The 15th BRICS summit held in #South_Africa attracted great interest from the global community. During the summit, it was announced that #Argentina, #UAE, #Ethiopia, #Iran, #Egypt, and #Saudi_Arabia will join the group as full members from January 1, 2024, expanding the number of BRICS countries to 11.
Discussions on the creation of a new common currency and the reform of the international monetary system were also highlighted.
The summit showcased a clear divergence between the world represented by the West and the world represented by BRICS, with #China and #Russia as dominant poles.
https://moderndiplomacy.eu/2023/08/29/brics-expansion-the-group-is-getting-stronger/
The 15th BRICS summit held in #South_Africa attracted great interest from the global community. During the summit, it was announced that #Argentina, #UAE, #Ethiopia, #Iran, #Egypt, and #Saudi_Arabia will join the group as full members from January 1, 2024, expanding the number of BRICS countries to 11.
Discussions on the creation of a new common currency and the reform of the international monetary system were also highlighted.
The summit showcased a clear divergence between the world represented by the West and the world represented by BRICS, with #China and #Russia as dominant poles.
https://moderndiplomacy.eu/2023/08/29/brics-expansion-the-group-is-getting-stronger/
Modern Diplomacy
BRICS expansion: The group is getting stronger
The BRICS association, aimed at building an alternative mechanism for international cooperation to the current world order led by the United States, managed to attract attention with its decisions towards this goal at almost every summit. However, the 15th…
#Argentina is ready to cooperate with #Ethiopia in framework of BRICS
Argentina's ambassador to Ethiopia, Gustavo Teodoro Grippo, expressed his readiness to collaborate with Ethiopia and leverage the opportunities presented by the #BRICS countries.
Grippo commended Ethiopia for becoming a member of the economic group, alongside Argentina, #Egypt, #UAE, Iran, and #Saudi_Arabia, effective from 1 January, 2024.
Highlighting the significance of communication and cooperation in today's complex world, he emphasized the potential benefits for Ethiopia and Argentina as part of the countries that make up 40% of the global population and contribute 25% of the global GDP.
https://www.plenglish.com/news/2023/09/06/argentina-is-ready-to-cooperate-with-ethiopia-in-framework-of-brics/
Argentina's ambassador to Ethiopia, Gustavo Teodoro Grippo, expressed his readiness to collaborate with Ethiopia and leverage the opportunities presented by the #BRICS countries.
Grippo commended Ethiopia for becoming a member of the economic group, alongside Argentina, #Egypt, #UAE, Iran, and #Saudi_Arabia, effective from 1 January, 2024.
Highlighting the significance of communication and cooperation in today's complex world, he emphasized the potential benefits for Ethiopia and Argentina as part of the countries that make up 40% of the global population and contribute 25% of the global GDP.
https://www.plenglish.com/news/2023/09/06/argentina-is-ready-to-cooperate-with-ethiopia-in-framework-of-brics/
Prensa Latina
Argentina is ready to cooperate with Ethiopia in framework of BRICS
Addis Ababa, Sep 6 (Prensa Latina) Argentina is ready to cooperate with Ethiopia and seize the new opportunities that the BRICS countries (Brazil, Russia, India, China, and South Africa) have opened to both countries, Argentine Ambassador Gustavo Teodoro…
Ethiopian official lauds China's role in helping the Global South
A senior Ethiopian official and scholar emphasized the vital role of #China in tackling crises faced by developing nations and creating a sustainable future. Arkebe Oqubay, a senior minister and special adviser to the Ethiopian prime minister, spoke at a news conference in #Beijing, stating that China has been an inspiration for developing countries in terms of rapid growth and structural transformation.
Arkebe highlighted China's significant contributions to Africa's economic growth, particularly in the areas of manufacturing and agriculture. He praised China's advancements in green technology, including wind and solar energy, which have improved accessibility for poorer countries.
Arkebe also commended the recent expansion of the #BRICS alliance to include #Ethiopia, stating that it is a crucial economic alliance for the global south. He expressed hope for China to play a more significant role in addressing international inequality and improving global governance in the post-COVID era.
https://global.chinadaily.com.cn/a/202309/11/WS64fec2f6a310d2dce4bb519a.html
A senior Ethiopian official and scholar emphasized the vital role of #China in tackling crises faced by developing nations and creating a sustainable future. Arkebe Oqubay, a senior minister and special adviser to the Ethiopian prime minister, spoke at a news conference in #Beijing, stating that China has been an inspiration for developing countries in terms of rapid growth and structural transformation.
Arkebe highlighted China's significant contributions to Africa's economic growth, particularly in the areas of manufacturing and agriculture. He praised China's advancements in green technology, including wind and solar energy, which have improved accessibility for poorer countries.
Arkebe also commended the recent expansion of the #BRICS alliance to include #Ethiopia, stating that it is a crucial economic alliance for the global south. He expressed hope for China to play a more significant role in addressing international inequality and improving global governance in the post-COVID era.
https://global.chinadaily.com.cn/a/202309/11/WS64fec2f6a310d2dce4bb519a.html
China Daily
Ethiopian official lauds China's role in helping the Global South
A senior Ethiopian official and scholar has underlined the significant role of China in addressing the current crises facing developing nations and building a sustainable future, saying that Beijing has championed the interests of Africa and the Global South.
#Ethiopia to manufacture #Russian Lada Cars for the African market
Ethiopia will launch the production of Russian #Lada cars on its territory for the African market, the countries Ambassador to Russia Cham Ugala Uriat has said. The move is significant as it illustrates why Ethiopia has joined #BRICS – its low manufacturing cost base can assist keep production costs down while also providing access to the growing African market.
“We’ll see Russian Lada cars in neighboring countries in the near future, because Avtovaz have already signed a deal with one of the Ethiopian companies” Uriat said, adding that those cars will be produced in Ethiopia. Lada make a range of SUV suitable for the African market.
https://www.russia-briefing.com/news/ethiopia-to-manufacture-lada-cars-for-the-african-market.html/
Ethiopia will launch the production of Russian #Lada cars on its territory for the African market, the countries Ambassador to Russia Cham Ugala Uriat has said. The move is significant as it illustrates why Ethiopia has joined #BRICS – its low manufacturing cost base can assist keep production costs down while also providing access to the growing African market.
“We’ll see Russian Lada cars in neighboring countries in the near future, because Avtovaz have already signed a deal with one of the Ethiopian companies” Uriat said, adding that those cars will be produced in Ethiopia. Lada make a range of SUV suitable for the African market.
https://www.russia-briefing.com/news/ethiopia-to-manufacture-lada-cars-for-the-african-market.html/
In-depth: Ethiopia's surprising admission into the #BRICS elite circle: Exploring the role of geopolitics, economics
The recent BRICS Summit held in #South_Africa made headlines as it unexpectedly welcomed six new nations into its ranks. Starting in January 2024, #Argentina, #Iran, #Saudi_Arabia, the #UAE, #Egypt, and #Ethiopia will officially join the bloc. While this surprising move has sparked intense discussions and debates among experts, it is Ethiopia's invitation that has left many questioning the criteria behind its selection.
Ethiopia's interest in joining BRICS has been relatively recent. The country made its debut at the 14th BRICS Summit in 2022 and subsequently submitted an official application to join in early 2023. Despite having the largest economy in East Africa, Ethiopia's selection was unexpected, especially considering the absence of #Nigeria, Algeria and Morocco from the selection process.
Experts believe that politics, rather than economics, played a significant role in the selection process. The establishment of BRICS is rooted more in geopolitics than economic benefits. However, some argue that the decision to include Ethiopia and Egypt is a calculated move to achieve equilibrium and promote harmony and impartiality within the bloc.
https://addisstandard.com/in-depth-ethiopias-surprising-admission-into-the-brics-elite-circle-exploring-the-role-of-geopolitics-economics/
The recent BRICS Summit held in #South_Africa made headlines as it unexpectedly welcomed six new nations into its ranks. Starting in January 2024, #Argentina, #Iran, #Saudi_Arabia, the #UAE, #Egypt, and #Ethiopia will officially join the bloc. While this surprising move has sparked intense discussions and debates among experts, it is Ethiopia's invitation that has left many questioning the criteria behind its selection.
Ethiopia's interest in joining BRICS has been relatively recent. The country made its debut at the 14th BRICS Summit in 2022 and subsequently submitted an official application to join in early 2023. Despite having the largest economy in East Africa, Ethiopia's selection was unexpected, especially considering the absence of #Nigeria, Algeria and Morocco from the selection process.
Experts believe that politics, rather than economics, played a significant role in the selection process. The establishment of BRICS is rooted more in geopolitics than economic benefits. However, some argue that the decision to include Ethiopia and Egypt is a calculated move to achieve equilibrium and promote harmony and impartiality within the bloc.
https://addisstandard.com/in-depth-ethiopias-surprising-admission-into-the-brics-elite-circle-exploring-the-role-of-geopolitics-economics/
Addis Standard
Ethiopia's surprising admission into the BRICS elite circle: Exploring the role of geopolitics, economics - Addis Standard
Ethiopia's surprising admission into the BRICS elite circle: Exploring the role of geopolitics, economics Addis Standard In-Depth Analysis -