Ethiopia, one of Africa’s fastest-growing economies, has asked to join the BRICS bloc of emerging markets, the foreign ministry said on Thursday. The term BRIC was coined by Goldman Sachs economist Jim O’Neill in 2001 to describe the rise of Brazil, Russia, India and China. South Africa joined in 2010. Ethiopia will continue to work with international institutions that can protect its interests, he said. BRICS countries account for more than 40% of the world’s population and about 26% of the global economy.

Source: Ethiopian News June 30, 2023 16:18 UTC