South Africa Headed To BRICS Summit

26 March 2012 06:00am - Florence Fullalove

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South Africa Headed To BRICS Summit

South African President Jacob Zuma is to lead a high-powered South African delegation to the fourth BRICS summit in New Delhi, India this week. This is the second summit South Africa has attended after its ascension to the grouping of powerful emerging economies in 2011. South Africa’s inclusion in the group at last year’s summit in Beijing put the country in the league of the world’s fastest-growing and potentially most influential group of nations including Brazil, Russia, India, and China. The BRICS countries account for about 40% of the world’s population and about 18% of the world’s gross domestic product.

The Presidency has said they will focus on global governance matters, including the global economy and global peace and security, as well as sustainable development issues, including climate change. The Presidency said that South Africa, “will take advantage of the BRICS summit to advance the African Agenda, seek support from the BRICS partners for Nepad infrastructure development and industrialisation initiatives on the African continent, and advocate for reform of global governance institutions.”

Business Unity South Africa (BUSA) has confirmed that it will be sending a delegation of over 50 companies to the BRICS business Forum, which runs alongside the summit. BUSA CEO Nomaxabiso Makokweni said that the April 2011 inaugural BRICS Business Forum in China, established a solid foundation for enhanced business ties amongst the biggest and fastest growing economies in the world. She said, “South African business needs to leverage on the commercial opportunities offered by Brazil, Russia, India, and China for the mutual benefit of the grouping, South Africa and the African continent.”

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