https://www.engineeringnews.co.za

Brics grouping leading global economic recovery – Zuma

Brics grouping leading global economic recovery – Zuma

Photo by Duane Daws

9th July 2015

By: Natalie Greve

Creamer Media Contributing Editor Online

  

Font size: - +

In the midst of a “sluggish” global economy, the Brazil, Russia, India, China and South Africa, or Brics, member States are leading the charge against dampened economic growth and depressed international trading, President Jacob Zuma told the Brics Business Council members at the seventh Brics Summit, in Russia, on Thursday.

“I am proud to say that, despite sluggish growth, the Brics countries have been at the forefront of global recovery, recording favourable export growth with exports to the rest of the world increasing from $1.9-trillion in 2009 to $4.2-trillion in 2013.

“South Africa recognises the fact that, to strengthen the Brics brand globally, it is imperative to invest all our efforts in making sure that the environment remains conducive for investment and potential investors,” he told the council.

Noting that the socioeconomic challenges confronting developing countries and Brics member States, were similar, Zuma encouraged the Brics countries to continue to “vigorously” partner with each other to advance their shared vision.

He further assured the council of South Africa’s commitment to creating a conducive environment that would yield “the desired outcomes” as they related to the grouping’s identified priorities.

“The onus lies with you to make a concerted effort in emancipating our people from the clutches of underdevelopment and poverty. I call upon you, our friends, to partner with us as we jointly tackle these challenges and identify synergies and complementary solutions which I believe to be within our reach.

“Our collective capacity and cooperation in bargaining and voicing concerns that affect our economies in international forums has been highly effective, we must move together to develop our economies to higher levels and use our capacities for mutual growth and development,” he appealed.

Zuma further reiterated that South Africa had, in an attempt to expedite the creation of business-to-business linkages, last year announced a ten-year multiple-entry visa regime for Brics business travellers.

He hoped this intervention would enable captains of industry from member States to engage in a process of continuous and sustainable dialogue and prompt intensified trade ties.

“Within this context, I implore our fellow Brics members to consider similar measures that will ensure an introduction of a harmonised visa regime among us,” he said.

He further commended the signing of the Declaration on Investment Principles by the Brics Business Council leaders this week, which provided a framework for enhanced investment cooperation between countries and welcomed the newly established Working Groups on Deregulation and Agribusiness.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Stewarts & Lloyds
Stewarts & Lloyds

Stewarts & Lloyds today supplies steel and tube, pipe and fittings, valves, pumps, irrigation, fencing, profiling and roofing products. The cash...

VISIT SHOWROOM 
Flameblock
Flameblock

FlameBlock is a proudly South African company that engineers, manufactures and supplies fire intumescent and retardant products to the fire...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.099 0.154s - 138pq - 3rq
Subscribe Now