Ethiopia PM hails BRICS entry as 'great moment'

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00:00 One of those six new countries that's set to join BRICS is Ethiopia.

00:03 Let's get reaction now from Abess Ababa.

00:05 That's with Clotilde Azar.

00:07 Clotilde, what more can you tell us?

00:14 This is a great moment for Ethiopia, said the Prime Minister on the social media.

00:19 He exited the new Twitter.

00:20 He declared that Ethiopia stands ready to cooperate with all for an inclusive and prosperous

00:28 global order.

00:30 Two months ago, Ethiopia applied to join the BRICS to straighten its economic position

00:36 through an international institution that can defend its interests.

00:41 It's now a done deal.

00:43 The country was favored by China, major investor in Ethiopia.

00:48 Yesterday, the Prime Minister, Abiy Ahmed, and the President of China met and they expressed

00:55 their willing to straighten their partnership on multilateral platforms.

01:01 China has also announced the suspension of Ethiopia debt repayments for 2023-2024 period.

01:11 This is good news for Ethiopia, which needs to recover from the two years war in Tigray,

01:17 which deepened its debt and slowed exports and the job market.

01:22 For the BRICS, the country represents an important potential market in terms of investment and

01:29 trade thanks to its rapid growth and very large population.

01:34 Ethiopia is the second most populous country in Africa.

01:37 Clotilde, thank you for that.

01:39 Clotilde Azar reporting for us from Addis Ababa.

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