Ethiopia's Membership in BRICS: Opportunities and Challenges

Abstract

This article examines Ethiopia’s joining of BRICS in January 2024, providing an explanation on how this accession can lead to an expansion of development opportunities for the nation and elevates the global position and diplomacy of the country. Utilizing a mixed-methods approach consisting of document analysis, comparative analysis, and content analysis within the timeframe January-June 2024, the article assesses alignment between the objectives of Ethiopia and the joint objective of BRICS in areas of infrastructure, agriculture, industry, trade, and security.
The major conclusions drawn from this article are that: the sentiment of Ethiopian media on Ethiopia joining the BRICS is predominantly positive at 80%; nevertheless, there is an evident trade imbalance, whereby the contribution of BRICS member nations to Ethiopia's imports stands at 34.29%, while their contribution to Ethiopia's exports stands at 7.65%. There are also specific benefits driving Ethiopia's accession include New Development Bank financing, infrastructure modernization, and technology transfer to the agricultural and energy sector.
The article highlights the economic benefits associated with increased market access, investments, technology transfer, and the establishment of financial instruments led by BRICS nations, while at the same time analysing issues such as geopolitics, governance constraints, institutional capacity gaps, and macroeconomic vulnerabilities. The article ends with specific policy recommendations that can assist Ethiopia in harnessing the full potential of BRICS and fostering south-south collaboration.