Black Business Council CEO Kganki Matabane says the BRICS 15th Summit is expected to yield positive results for South African businesses and the country’s economy.
The BRICS group of major emerging economies – Brazil, Russia, India, China and South Africa – will begin its 15th heads of state and government summit in Sandton, Johannesburg, on Tuesday.
BRICS Business Council I Growth opportunities and economic collaboration: Dr Stavros Nicolaou
Representatives from over 40 countries are expected to attend. Matabane says the summit will significantly benefit the country.
“The summit is very important for the country especially for SA businesses including small businesses because BRICS countries are 40% of the global population and there is export market. If you look at global trade, BRICS countries contribute to one third of the global trade which is extremely huge so the importance cannot be underestimated. ”
Meanwhile President Cyril Ramaphosa says South Africa supports the expansion of BRICS.
Addressing the nation from the Union Buildings on Sunday night, Ramaphosa revealed that more than 20 countries have formally applied to join BRICS, with several more having expressed a desire to become members.
President Ramaphosa’s address below:
