BRICS Summit to build on past achievements

The 9th Brazil, Russia, India, China, South Africa (BRICS) Summit is expected to build on the past achievements of BRICS.

President Jacob Zuma arrived in Xiamen City, in the People's Republic of China, on Saturday, ahead of the BRICS Summit to be hosted by China from 3 – 5 September 2017.

The 9th BRICS Summit will be held under the theme: “BRICS: Stronger Partnership for a Brighter Future".

The summit will build on the past achievements of BRICS, by deepening BRICS cooperation for common development, strengthening global governance to jointly meet challenges, carry out people-to-people exchanges to support BRICS cooperation and make institutional improvements, and build broader partnerships. 

“Issues of mutual concern including international conflicts, the fight against terrorism, and reform of the global system of governance, notably the democratisation of the United Nations and the Bretton Woods Institutions will also be discussed,” the Presidency said.

Leaders will meet with the BRICS Business Council, the President of the New Development Bank, as well as review salient economic developments and projects.

In addition, to the issuing of the Xiamen Declaration and Action Plan, new proposals will be explored to further deepen cooperation and to expand the BRICS institution-building agenda.

According to the Presidency, BRICS leaders will also engage in a dialogue with Emerging Markets and Developing Countries; the invited countries being Egypt, Guinea, Mexico, Tajikistan and Thailand.

“The dialogue will be reflective of trans-continentalism and bring together nations with a focus on the needs of the Global South in the context of globalisation and future development.

“The economic ties between and among BRICS countries are being strengthened through the Strategy for BRICS Economic Partnership that was adopted during the Ufa Summit in Russia in 2015,” the Presidency said.

In this regard, several agreements in support of the Strategy for BRICS Economic Partnership will be signed in the presence of BRICS leaders.

Progress achieved since SA joined BRICS

There has been substantive progress achieved since South Africa joined BRICS in 2011.

The formation has strengthened its cooperative mechanism for institutional development, most notably witnessed in the creation of the New Development Bank and the recently launched Africa Regional Centre in Johannesburg.

In 2015, total intra-BRICS trade amounted to R3.06 trillion.

South Africa’s exports to BRICS countries marginally increased from R123 billion in 2011 to R138.2 billion in 2016 while in the same period, imports from BRICS countries also increased from R115 billion to R230 billion. 

Total Intra-BRICS FDI was R554 trillion at the end of February 2016.

“South Africa looks forward to meeting with the like-minded BRICS countries, as it strongly believes that these engagements will further contribute to finding innovative approaches and solutions to our identified triple challenges of poverty, unemployment and inequality, as well as the development objectives of the Global South as embodied in the Bandung spirit, notably its core principles of solidarity, friendship and cooperation, which continue to be a relevant and effective foundation for resolving global issues of common concern and fostering better relations among nations,” the Presidency said.

President Zuma is accompanied by Ministers of International Relations and Cooperation Maite Nkoana-Mashabane, Finance Malusi Gigaba, State Security David Mahlobo, Small Business Development Lindiwe Zulu, Energy Mmamoloko Kubayi, Water and Sanitation Nomvula Mokonyane, Cooperative Governance and Traditional Affairs Des Van Rooyen and the Deputy Minister of Trade and Industry, Gratitude Magwanishe. – SAnews.gov.za