KAZAN, Russia, October 24. Cooperation among the countries of the Global South holds significant potential for growth and productivity improvement in developing countries, Ethiopian Prime Minister Abiy Ahmed Ali said at the first plenary session of the 16th BRICS summit in the BRICS Plus format in Kazan, Trend reports.
"The Global South needs to strive to use existing opportunities for decision-making and the creation of new financial instruments aimed at achieving development goals. Cooperation among the countries of the Global South has significant potential for growth and productivity improvement in developing countries. In this regard, it is necessary to actively work to increase the level of trade, attract investment, and finance development goals," he said.
According to him, the growing market opportunities due to demographic factors are intensifying against the background of technological progress and an increase in trade volume, which opens up prospects for us to become the locomotive of this general process."To unlock this potential, it is necessary to eliminate trade barriers, develop markets, set appropriate quotas, and ensure the realization of trade opportunities."
"Ethiopia is convinced that the cooperation of the countries of the Global South can make a significant contribution to solving global challenges, maintaining peace and security, overcoming poverty, promoting development, and combating the effects of climate change. In this regard, I would like to reiterate my country's commitment to consolidating cooperation with BRICS and emerging markets based on the principles of equality, solidarity, and mutual respect," the prime minister concluded.