Riyaz Patel
Each trade, investment or collaboration is a chance to grow closer and develop the type of international partnerships that enhances empowerment, President Ramaphosa said at the closing of the BRICS Business Council in Brasilia, Brazil.
He said the BRICS Business Forum and Business Council have emerged as “central pillars of our BRICS collaboration,” adding that the BRICS formation “appreciates the continued support” offered by the respective business communities.
“The continued strength of these business engagements reflects the strength of our economic ties, and recognises the immense potential still on offer.”
Ramaphosa said the benefits of these partnerships are evident across the BRICS nations.
“In South Africa, we play host to Brazilian bus manufacturers, Russian train manufacturers, Indian automotive companies and Chinese machinery producers.
“And each of the BRICS countries has South African fruit and vegetables on their tables, buildings constructed from South African metals and factories fitted with South African machinery and electronics.”
Ramaphosa added that any government’s capacity to support growth and development is dependent on a constant and productive conversation between governments, business, workers and consumers.
“We remain committed to open and fair markets for global businesses.We remain committed to supportive governance that creates opportunities for inclusive growth.”
President Ramaphosa noted that every BRICS partner has a long history of collaboration with Africa, and each working hard to assist in the development of the African continent.
In South Africa, he said, “we are working to achieve this aim by undertaking far-reaching economic reforms aimed at developing an entrepreneurial state that can actively partner with companies.”
Ramaphosa restated the huge and many opportunities the African Continental Free Trade Area (AfCFTA) offers, but underlined that realising “this potential will require partnerships.”
AfCFTA, South Africa’s president said, will offer an opportunity for BRICS countries to partner in building infrastructure, sharing knowledge and creating local manufacturing capacity.
