BRICS
BEIJING, CHINA - APRIL 24: Ethiopia's Prime Minister Abiy Ahmed (L) shakes hands with Chinese president Xi Jinping before their meeting at the Great Hall of the People in Beijing, China, April 24, 2019.(Photo by Parker Song/Kyodo News - Pool/Getty Images)

Ethiopia Seeks Membership In BRICS Group of Emerging Economies.

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More than 40% of the world’s population and around 26% of the global GDP are made up of BRICS nations.

Ethiopia, one of the continent’s economies with the highest rate of growth, has sought to join the BRICS group of developing nations, the foreign ministry announced on Thursday.

Jim O’Neill, a Goldman Sachs economist, first used the acronym BRIC to characterise the rise of Brazil, Russia, India, and China in 2001. In 2009, the BRIC nations met for the first time in Russia. In 2010, South Africa joined, completing the BRICS.

Meles Alem, a spokesperson for the foreign ministry, told the media that “we expect BRICS will give us a positive response to the request we have made,” according to state-run news agency ENA.

He said that Ethiopia will keep collaborating with organisations on the global stage that can look out for its interests.

The country in the Horn of Africa has the second-largest population in Africa, yet the International Monetary Fund rates its economy just 59th in the world, and it is less than half the size of South Africa, which is the smallest of the BRICS nations.

Argentina, the 23rd largest economy in the world, said last year that it had gained formal support from China to join the organisation, which is viewed as a potent emerging-market alternative to the West. The union has already acknowledged that additional nations have submitted membership applications.

More than 40% of the world’s population and around 26% of the global GDP are made up of BRICS nations.

Despite rumours that it would be shifted to a nation where Russia’s President Vladimir Putin would not be arrested on charges of war crimes, South Africa announced on Thursday that it would host the next summit in August as scheduled.

The International Criminal Court (ICC) demanded his arrest in March over allegations that he had sent children from Ukraine to Russia. That has sparked discussion both within and outside of South Africa, a signatory to the ICC who is required to detain Putin should he visit the nation for the BRICS conference.