South Africa in BRICS
The leaders of the BRICS (Brazil, Russia, India, China and South Africa) group of influential emerging economies have agreed to create a US$100-billion pool of currency reserves to serve as a buffer against financial shocks.
The BRICS Business Council, meeting for the first time in Johannesburg on Tuesday, committed to working together to promote public-private partnerships among the five BRICS member countries.
South Africa President Jacob Zuma, addressing the first meeting of the BRICS Business Council in Johannesburg on Tuesday, invited businesses from the BRICS countries to partner with Africa in its drive to develop the continent's infrastructure.
Value-added trade and its role in transforming Africa from a "source of raw materials" into a key player in the global economy will be high on the agenda at the first BRICS Business Council meeting starting in Johannesburg on Tuesday, says Trade and Industry Minister Rob Davies.
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