Uganda officially becomes BRICS partner state, opening doors for investment, cooperation
Date
1/13/2025 7:52:11 AM
(MENAFN) In an interview with Xinhua News Agency on Friday, Minister of State for Foreign Affairs in charge of Regional Cooperation John Mulimba stated that Uganda formally became a BRICS partner state on January 1, 2025, a move that is anticipated to open up investment opportunities and strengthen ties with some of the world's top emerging economies.
Uganda has joined a group of nations that are "highly industrialized, some of which have evolved from similar circumstances to where we are now," Mulimba said, highlighting the transformative potential of Uganda's cooperation with BRICS.
He emphasized the value of BRICS as a forum for innovation and technological exchange, especially in the fields of information and communication technology. Mulimba thinks that these developments may be useful instruments for Uganda's "societal transformation."
The minister added that Uganda's reliance on Western financial institutions, which frequently impose strict conditions, is lessened by the other funding options that come with being a member of BRICS.
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