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BRICS summit: opportunity for solutions and investment

12 October 2016

The value proposition of 33 South African companies would be promoted to businesspeople and investors from the BRICS (Brazil, Russia, India, China and South Africa) bloc ahead of the annual summit of leaders from the respective countries, said the Department of Trade and Industry (dti).

The companies come from KwaZulu-Natal, Gauteng, Western Cape and Eastern Cape and have been chosen based on their applications to participate in this programme through the Export, Marketing, and Investment Assistance Scheme (EMIA) of the department.

South Africa is one of 26 industrialised nations, gateway to African continent: Yunus Hoosen, Invest SA #BRICS2016 pic.twitter.com/4yn1F81byX

— BRICS Trade Fair (@BRICS_2016) October 12, 2016

“The BRICS formation aims to offer an alternative to the commonly accepted global political and economic architecture,” said the dti’s deputy director-general of trade and investment, Pumla Ncapayi, at a briefing with South African business on 11 October 2016.

“Strengthening inter-BRICS trade and economic relations will be an important enabler of this alternative narrative. Furthermore, the BRICS Business Council Working Groups will also convene ahead of the summit. This working group is seized with how to enable the ease of doing business including matters related to projects that will advance our developmental objectives in agriculture manufacturing, financial services, infrastructure and skills development.”

South African companies had an opportunity to network and showcase their industrial capabilities within the block, which brought with it a market of approximately 42% of the world’s population, she said.

The BRICS Trade Fair takes place from 12 to 14 October in New Delhi, India while the leaders’ summit is scheduled for 15 and 16 October in Goa. The summit will be held under the theme “Building Responsive, Inclusive and Collective Solutions”.

Source: South African Government News Agency

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