Giving a boost to India-Ethiopia ties, Prime Minister Narendra Modi had a productive meeting with his Ethiopian counterpart Abiy Ahmed Ali on 24 August 2023 on the sidelines of the BRICS Summit in Johannesburg.
PM Modi congratulated Ali on Ethiopia's membership in BRICS. PM Ali appreciated India's support for the inclusion of Ethiopia in the BRICS family.
- PM Ali congratulated PM Modi on the success of the Chandrayaan 3 mission and described it as a moment of pride and inspiration for Ethiopia and the Global South.
- According to the Ministry of External Affairs, the talks between the two leaders discussed ways to expand bilateral cooperation in areas such as parliamentary contacts, development partnership and capacity building, trade and investment, defence, ICT, agriculture, skilling of youth and people-to-people ties. were also included.
- It is noteworthy that in the 15th BRICS Summit in Johannesburg, now six new countries have been included in the BRICS group, which has now increased its number to 11. These six countries will join the BRICS group from 1 January 2024.
- These six countries joining the BRICS group are Iran, Ethiopia, Saudi Arabia, UAE, Argentina and Egypt.
- BRICS is an acronym for a grouping of the world's five leading emerging economies: Brazil, Russia, India, China and South Africa.
- BRICS was discussed in a 2001 report by Goldman Sachs economist Jim O'Neill on the growth prospects for the economies of Brazil, Russia, India and China.
- In 2006 the four countries began a regular informal diplomatic coordination with annual meetings of foreign ministers at the end of the General Debate of the United Nations General Assembly.
- Thereafter it was decided that it should be held as an annual summit at the level of Heads of State and Government.
- The first BRIC summit took place in Yekaterinburg, Russia in 2009 and discussed issues such as reforming the global financial system.
- South Africa was invited to join BRIC in December 2010, after which the group adopted the acronym BRICS.
- BRICS countries represent 41% of the global population, 24% of global GDP and 16% of global trade.
- It is an integrated platform of only five countries. It is not an international intergovernmental organisation, nor has it been established under any treaty.
- Summits of the top leaders of BRICS countries and other ministerial conferences are held annually.
- The BRICS Summit is presided over annually by the supreme leader of the member countries in the B-R-I-C-S order.
- Capital: Addis Ababa
- Currency: Birr (ETB)
- Prime Minister: Abiy Ahmed Ali
- President: Sahle-Work Jewde