Pretoria - KwaZulu-Natal Premier Senzo Mchunu has encouraged BRICS member states to look at how they can craft cooperation arrangements that will enable the sharing of technical expertise.
“Such technical cooperation must look into the kind of architecture we put in place to facilitate substantive progress within our individual countries to protect infant industries where such exist, without closing off opportunities for partnership with one another in a beneficial way to all of us,” Premier Mchunu said.
Speaking on Thursday at the 4th BRICS International Competition Conference in Durban he said, the countries – Brazil, Russia, India, China and South Africa -- within the bloc have development imperatives that must be pursued in accordance with each country’s unique realities.
“We equally have a commitment to one another to work together to grow our collective economies through trade and investment.
“We must do so as an attempt to find answers in achieving equitable trade among ourselves, without sacrificing all that gives us the competitive edge to build dynamic economies that are globally competitive, yet respond adequately to our unique challenges and needs,” Premier Mchunu said.
He said the BRICS partners must look at how they use competition policy and laws as a transformative instrument to ensure that out of the mergers and acquisitions, global value chains are opened to small and medium enterprises.
Premier Mchunu said the 4th BRICS International Competition Conference came at an opportune time when South Africa’s efforts are directed at unlocking untapped economic opportunities in the maritime sector.
“These opportunities are largely in the services sector, driven on the main by offshore exploration of oil and gas, which will further unlock existing and potentially new capacity in the services sector, especially shipbuilding, repairs and maintenance.
“Advanced economies in this sector, have shown that for it to thrive and achieve its full potential, assertiveness in competition policy is critical in facilitating broad participation,” he said. – SAnews.gov.za
