Brics policy needs to benefit South Africa – Davies
While exports between Brazil, Russia, India, China and South Africa (Brics) grouping countries have been growing at an average of 2.8% a year since 2010, South Africa’s export basket continues to be dominated by primary products and low-value-added products.
As such, Trade and Industry Minister Dr Rob Davies has stressed the need for Brics nations to identify complementarities, share experiences and promote capacity building in a number of trade- and investment-related issues.
While attending the Brics Trade Ministers meeting earlier this week, Davies also welcomed joint studies to inform cooperation in a number of policy areas. This could assist the development of a coordinated position in the multilateral fora.
Meanwhile, a welcome development has been an increase in intra-Brics investment in key sectors of the South African economy. For example, South Africa has benefited from China-based Beijing Automobile International Corporation’s R11-billion investment in the automotive sector.
Small Business Development Minister Lindiwe Zulu, who also attended the summit, emphasised that Brics countries needed to cooperate on the development of small, medium-sized and microenterprises (SMMEs), with growth targeted towards promoting supplier development, the participation of SMMEs in the Brics countries’ value-chains, and the exchange of best practices in terms of development.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Iritron delivers advanced automation, control, and optimisation solutions to the Mining, Minerals & Metals, Consumer Package Goods and...
VISIT SHOWROOM
Goodwin Submersible Pumps Africa is sole distributors for Goodwin electrically driven, submersible, abrasion resistance slurry pumps.
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
