Ethiopian leader praises Putin for Russia’s economic resilience

Ethiopian Prime Minister Abiy Ahmed has credited President Vladimir Putin’s “exemplary” leadership for Russia’s ability to maintain economic resilience during the present “difficult period.” The US and its allies have introduced a record number of sanctions against Moscow, including freezing an estimated $300 billion in assets in response to the Ukraine conflict.

During a meeting with Putin on Wednesday on the sidelines of the BRICS Summit in Kazan, Russia’s fifth largest city, Abiy commended him for overcoming the challenges.

“It is a good time for most of us to come and to witness how Russia is doing on many fronts, including the economy,” the East African nation’s leader stated.

“This period was not easy for Russia, but under your leadership you have succeeded to maintain the economic resilience which might be exemplary for most of us,” he told Putin.

Ethiopia joined the BRICS group earlier this year, alongside Egypt, Iran, and the United Arab Emirates. The economic bloc, founded in 2006 and originally consisting of Brazil, Russia, India, China, and South Africa, now represents around 46% of the world’s population and over 36% of global GDP, according to estimates from global financial institutions. More than 30 nations, including NATO member Türkiye, have applied to join, according to Russian officials.

On Wednesday, Putin welcomed Ethiopia’s BRICS membership as an important decision that confirms the landlocked state’s importance in the global arena.

“We will continue to promote the harmonious integration of Ethiopia into the work of the group,” the Russian president assured Abiy at their meeting, which addressed a variety of issues concerning bilateral ties. Moscow and Addis Ababa have maintained relations for over 120 years.

In his summit speech, Prime Minister Abiy said BRICS has the potential to be a “transformative force for a more equitable world order.” According to him, “intra-BRICS trade, investment, and tourism” can ignite economic growth that benefits member states while also serving as a “model for cooperation and solidarity in addressing global challenges.”

Abiy also announced that his country, currently the third-largest economy in Sub-Saharan Africa, is “endowed with a young and dynamic workforce, vast arable land, and abundant renewable energy resources.” These are assets are primed for investment and trade, he added.

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