The
first BRICS Business
Council meet, which aims to increase trade and investment ties between
participating economies begins in South Africa today at the at the Sandton Convention Centre.
The two-day meeting,
which was announced by the Department of Trade and Industry
(DTI) last Thursday will be attended by the delegates from Brazil, Russia, India,
China and South Africa as well as prominent business leaders from 19 other
African countries, chairman of the council, Patrice Motsepe said.
The BRICS Business Council was established during the 2013 BRICS
Summit in Durban in March, with South African businessman Patrice Motsepe named
chairman of the body. BRICS
countries each nominated five business leaders to make up the council. The four
South Africans who will serve on the body along with Motsepe are Business Unity
SA CEO Nomaxabiso Majokweni, Zungu Investment Company executive chairman Sandile
Zungu, Sekunjalo Investments CEO Iqbal Surve, and Transnet CEO Brian Molefe.
"The meeting will identify specific measures and initiatives
to increase trade, business, manufacturing and investment ties between the
BRICS countries and Africa," Motsepe said.
"We will propose measures to eliminate barriers to growing trade and investment ties amongst the BRICS and African countries."
"We will propose measures to eliminate barriers to growing trade and investment ties amongst the BRICS and African countries."
He said it is important for African business leaders and
entrepreneurs to establish partnerships and joint ventures between themselves
to ensure that they significantly benefit from business opportunities with the
BRICS countries.
South African President Jacob Zuma described the establishment of
the business council as a key measure to further increase intra-BRICS trade and
investment.
President Zuma said the council would serve as a platform to strengthen and promote economic, trade, business and investment ties amongst five countries.
President Zuma, SA Minister of Trade and Industry Rob Davies, and the chairmen of the member countries are expected to address the meeting.
President Zuma said the council would serve as a platform to strengthen and promote economic, trade, business and investment ties amongst five countries.
President Zuma, SA Minister of Trade and Industry Rob Davies, and the chairmen of the member countries are expected to address the meeting.
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