A business programme for South Africa’s Brazil, Russia, India, China and South Africa (BRICS) chairship will be outlined at an economic indaba that will take place this week. The indaba will take place in the form of a webinar on Thursday, 30 March 2023 from 09:00. It will be hosted by the South Africa’s Chapter of the BRICS Business Council (SABBC) in collaboration with the Department of Trade, Industry and Competition (the dtic).

The  aim of the indaba is to outline the business roadmap of the SA Chairship, whose climax will be the 15th BRICS Summit that will take place in August 2023. Key stakeholders such as the apex business associations, government, and civil society, will participate in the indaba.

The indaba is one of a series of activities that will be rolled out as part of the business programme. These activities will include meetings of the BRICS Partnership on New Industrial Revolution and BRICS Contact Group on Economic and Trade issues (CGETI), inward buying and investment missions, manufacturing forum, investment exhibitions that will showcase SA’s capabilities and available investment opportunities, and the BRICS Business Forum.

The BRICS Economic Indaba seeks to galvanise the support of South African businesses behind the programme of the SA  BRICS business Council, as well as to provide business with a broad understanding of the multitude of platforms and projects that they may be able to participate in during this Chairship.

The focal areas of discussion will include trade and investment opportunities with BRICS markets; key interventions being tabled at sector-based working groups; and activities lined up as a build-up to the BRICS Summit in August.

The key objective of the BRICS business programme is derived from the BRICS Economic Cooperation Strategy in trade and investment promotion. South Africa’s participation will focus on contributing to the priorities of the 6th administration, as outlined in the Medium Term Expenditure Framework, Economic Reconstruction and Recovery Plan and the 2023 State of the Nation Address.

During its Chairship, South Africa aims to advance the export and investment interests through activities aimed at promoting trade amongst the BRICS members and showcase SA’s capabilities and available investment opportunities. South Africa’s chairship is expected to contribute to economic growth, job creation, increased level of investment in the economy, improved industrialisation of the economy, and increased share of manufacturing global exports.

South Africa became a member of BRICS in 2010 and attended its first Summit in 2011. BRICS was established as a forum of like-minded, progressive emerging market and developing countries. These were brought together by their commitent to the need to restructure the global political, economic and financial architecture to be more equitable, balanced and resting on the important pillars of multilateralism and international law.

Members of the media who intend to cover the BRICS Economic Indaba are also required to register for the webinar by close of business today:  https://sabricsbusinesscouncil.co.za/event/brics-economic-indaba/

Bongani Lukhele – Director: Media Relations
Tel: (012) 394 1643
Mobile: 079 5083 457
WhatsApp: 074 2998 512
E-mail: BLukhele@thedtic.gov.za
Issued by: The Department of Trade, Industry and Competition (the dtic)

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