Africa’s potential can benefit BRICS bloc: Davies

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Trade and Industry Minister Rob Davies has urged BRICS counterparts to look at investments into South Africa as an investment into the whole continent.

The minister was speaking at a breakfast briefing before the official opening of the BRICS Summit in Sandton, north of Johannesburg.

He says Africa’s huge population and economic potential can benefit the BRICS bloc, especially if all member states sign the free trade agreement.

The agreement, if signed by all 55 member states, will give BRICS access to a market of over 1.2 billion people with a Gross Domestic Product (GDP) of $2.5 trillion.

Davies says Africa can also benefit from technological advancements made by some BRICS countries, especially China.

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