Photo by: Duane Daws
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.