by Alberto Galvi –
Ethiopia has applied to join the BRICS bloc of emerging markets with Brazil, Russia, India, China and South Africa. The BRIC powers held their first summit in 2009 in Russia.
Ethiopia is one of Africa’s fastest growing economies and will continue to work with international institutions that can protect its interests. Ethiopia has Africa’s second-largest population, but its economy ranks only 59th in the world, according to the International Monetary Fund, less than half that of the smallest BRICS member, South Africa.
Argentina said last year it had received formal backing from China to join the group, which is seen as a powerful emerging-market alternative to the West. Argentina is the 23rd largest economy in the world.
The BRICS has also previously said that other countries have also applied to join. They represent more than 40 percent of the world’s population and about 26 percent of the global economy. South Africa will host the next August summit as planned. This has spurred debate within and outside South Africa, a signatory to the ICC (International Criminal Court), which is obligated to arrest President Vladimir Putin if in the country for the BRICS summit.
The BRICS summit could have been moved to a country where Putin would not be arrested on war crimes charges. The ICC issued a warrant for Putin’s arrest in March for the alleged deportation of children from Ukraine to Russia.
