More than 1000 delegates from Brazil, Russia, India, China and South Africa (BRICS) will gather at the Sandton Convention Centre in Johannesburg tomorrow, Wednesday, 25 July 2018 for the BRICS Business Forum which will takes place as part of the 10th BRICS Summit. The Heads of State of the BRICS countries will preside over the afternoon session of the Business Forum and provide direction on strategic issues under discussion.
The Minister of Trade and Industry, Rob Davies, Deputy Minister Bulelani Magwanishe and the Chairperson of the BRICS Business Council, Iqbal Surve will deliver speeches at the opening session of the forum starting from 09:00. Their address will be followed by four thematic sessions that cover various topics. The Ministers of Trade, Commerce, Industry, Economic Development and External Relations of the five BRICS countries will all be panelists in the session where The Role of BRICS in Trade and Investment facilitation amidst a Changing Global Political Economy will be discussed.
According to the Minister of Trade and Industry, Rob Davies, the delegates who will comprise of captains of industry, heads of state-owned entities and government leaders will deliberate on strategic economic matters affecting the future of BRICS.
"In line with the BRICS Summit theme, BRICS in Africa: Collaboration for Inclusive Growth and Shared Prosperity in The Fourth Industrial Revolution, the Business Forum will deliberate on the current global political economy and its implications for BRICS member countries, the implications of the 4th Industrial Revolution on inclusive growth and transformation, facilitating intra-BRICS trade, as well as fostering BRIC-Africa partnerships," says Minister Davies.
Minister Davies added that the business forum will provide a platform to showcase the economic prowess of the African continent with a particular focus on advanced manufacturing, energy, technology, rail, aviation, information and communication technology, financial services and beneficiation (agro-processing and mining), as well as to enhance the flow of foreign direct investments from the BRICS bloc into the continent.
"The Business Forum will also offer an opportunity to facilitate the creation of manufacturing value-chains on the African continent, to stimulate dialogue on the utilisation of financing packages offered by the New Development Bank, and to promote synergies with development finance institutions on the continent. The Business Forum is also important because it will create opportunities for partnerships between African and BRICS companies as well as develop concrete measures to address the deficiencies within productive sectors impeding the optimal development of the continent," said Minister Davies.
Issued by: Department of Trade and Industry