Home

BRICS to promote trade, co-operation in finance among countries

Reading Time: 2 minutes

The time has come for Africa to take leadership of its own development and get its act together. Laws, plans and visions for development which often exist on paper need to be turned into deeds.

This was one of the issues raised at the meeting of academics and practitioners during the BRICS -Africa seminar held in Johannesburg.

Genuine political co-operation and strong bilateral relations is a must for the continent.

And as the 2017 BRICS summit draws closer, it’s hoped it will promote trade and co-operation in finance between the countries.

South Africa is the smallest member within the group and is expected to promote Africa’s interest and push for reform of financial institutions.

Chairperson African diplomacy Mzukisi Qobo says: “It has experience in engaging in international flora and has clear ideas about what it seeks to achieve with regards to reform agenda. But BRICS is a marginal group in the bigger scheme of things in global governance. It does not promote inclusive multilateralism it’s a club at best.”

While South Africa may do its best to become a determining voice, implementing decisions remains a problem.

Zimbabwe’s Dr Fanwel Kenala Bokosi says: “It’s important that you do it according to time because the world is moving, the geopolitical tenancies are actually moving at a fast pace and you can’t afford to wait because by the time you want to implement you realise that the world is no longer there.”

The BRICS summit is expected to provide more opportunities for emerging economies and injecting impetus into economic globalisation.

Wednesday 30 August 2017 19:25

Watch video below:

Lehana Tsotetsi

Author

MOST READ
RELATED STORIES