Address by President Cyril Ramaphosa on outcomes of the XV BRICS Summit, Union Buildings, Tshwane, 3 September 2023

Fellow South Africans,

 

Just over a week ago, the leaders of Brazil, Russia, India, China and South Africa concluded the XV BRICS Summit in Johannesburg.

 

It was a historic Summit that heralded a new chapter for BRICS.

 

I would like to report back to you this evening on the outcomes of the XV BRICS Summit and what they mean for our progress as a nation.

 

In addition, I would like to inform you about the report of the independent panel appointed in May to enquire into the circumstances of the docking of a Russian vessel, known as Lady R, at the Simonstown Naval Base.

 

First about the BRICS Summit.

 

The Summit was attended by the five BRICS member countries along with representatives of 61 other countries. Forty-six of the countries that attended were from our continent Africa. This included 20 Heads of State and Government.

 

We were also honoured by the attendance of the United Nations Secretary-General, Mr Antonio Guterres.

 

I want to thank the people of South Africa for welcoming these guests from across the African continent and the world. Delegations from some countries consisted of up to 600 people.

 

All our visitors were warmly received and were able to experience the best of South African hospitality.

 

We thank the many people involved in organising the Summit events, including the Deputy President, our ministers, officials, law enforcement agencies and our security services, who ensured that the Summit proceeded without incident.

 

We thank all the staff at airports and border posts, those who worked through the night to set up the venues, protocol officers and ushers, food and beverage staff at our various hotels and guest houses, volunteers, sponsors and partners, musicians and artists, drivers and messengers.

 

We must also thank the members of the media, from South Africa and from around the world, who ensured that the work of the Summit received wide coverage.

 

The success of the Summit is a credit to our country and its people. It is another demonstration of our ability to host major international gatherings that have a significant impact on the conduct of international affairs far beyond our borders.

 

Overall, many people have said that this was a most successful BRICS Summit.

 

Quite often, as South Africans we go about our daily lives, without paying much attention to our relations with other countries and to our membership of global organisations or forums such as the UN, AU, BRICS, the G20, the G77 + China, the Non-Aligned Movement and others.

 

And yet, our country’s relations with other countries and the conduct of our foreign policy affects our lives as South Africans in many ways, such as in trade and investment, sport, peace and security, technology, education, and many other areas.

 

As we have said before, our international work cannot be separated from our efforts to end poverty, to create jobs and to reduce inequality in South Africa.

 

Through stronger investment and trade relations with other countries, we are able to grow our economy, create more opportunities for new businesses and reduce unemployment.

 

By supporting peace and stability on our continent, and by promoting Africa’s development, we are able to improve social cohesion in our own country.

 

By encouraging greater cooperation between countries in areas such as investment, financing for development, international crime, fighting terrorism, climate change and vaccine production, we are able to strengthen our efforts to tackle these challenges in our own country.

 

The BRICS Summit made several decisions to take forward the struggle for a fairer and more inclusive world order that is focused on the equal development of all peoples.

 

One of the key decisions taken by the BRICS member countries was to support the call for a comprehensive reform of the United Nations, including its Security Council, with a view to making it more democratic, representative, effective and efficient.

 

The Summit said that there should be greater representation of developing economy countries in the UN Security Council’s membership. This is so that countries from Africa, Asia and Latin America, including Brazil, India and South Africa, can play a greater role in international affairs.

 

This was a most significant decision in view of the fact that it was supported by two BRICS members who are permanent members of the UN Security Council.

 

The reform of the United Nations is important for South Africa and our continent Africa because we stand to benefit from a world that is more fair and from international institutions that are more democratic and more representative.

 

In taking this position, the BRICS leaders recognised the desire of many other countries to contribute to redefining the terms of international relations.

 

The other significant outcome of the Summit was the decision to expand the membership of BRICS to include Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates.

 

BRICS leaders agreed that the value of BRICS extends beyond the interests of its current members. They agreed that BRICS could be more effective and have a greater impact by building partnerships with other countries that share its aspirations and perspectives.

 

Through an expanded BRICS, we will be able to better align the voices of those countries that seek a fairer global governance, financial, investment and trading system based on clear rules that apply equally to all countries.

 

An expanded BRICS also means that we will be able to export more of our products to major markets and, as a result, we will be able to produce more and create more jobs.

 

While an expanded BRICS will be an important champion for the Global South, South Africa stands to benefit from its relationship with these countries.

 

Together, these countries make up nearly a third of the global economy and are together home to 46 per cent of the world’s population.

 

Already we have achieved great benefit from our relations with Brazil, Russia, India and China.

 

These countries are important destinations for South Africa’s products and services. They are important sources of investment and are becoming even more important as tourism markets.

 

These economic ties have been strengthened by the BRICS Business Council and the BRICS Women’s Business Alliance, both of whom presented encouraging reports on their work.

 

We have regular interaction at many levels, among our business people, our scientists, our professionals, our cultural workers, our sports men and women, our academic, our public servants and our young people. This extends to interactions between political parties in BRICS countries.

 

We have agreed to the establishment of a BRICS Youth Council, which will play an important role in defining the direction of these relationships into the future.

 

Through these interactions, we exchange information, skills, technology and experience. The engagements between our respective business people at this Summit has resulted in several opportunities for the export of South African products to large countries with big markets.

 

All this enhances our progress as a country.

 

We are looking forward to establishing similar links and strengthening the political and economic ties with the countries that will soon be joining BRICS.

 

The Summit also decided that the finance ministers or central bank governors of BRICS countries, as appropriate, should consider the use of our various countries’ local currencies, payment instruments and platforms in international trade and financial transactions between BRICS and their respective trading partners.

 

They are expected to report back at the next Summit.

 

As BRICS chair, South Africa has always stressed the value of the BRICS alliance to advancing Africa’s developmental agenda.

 

The Summit deliberated on the opportunities presented by the African Continental Free Trade Area and its potential to shift Africa from an exporter of raw materials to a producer of manufactured goods.

 

South Africa’s participation in BRICS and its support for the expansion of BRICS does not detract from the good and strategic relations we have with many other countries around the world.

 

From the advent of our democracy, we have always sought to develop ties of friendship, cooperation and respect with all countries.

 

We have never aligned ourselves with any one global power or bloc of countries.

 

Our non-aligned approach has enabled us to pursue an independent foreign policy and to forge our own developmental path.

 

We have consistently advanced the articles of the United Nations Charter, including the principle that all members shall settle their international disputes by peaceful means.

 

The second matter I wish to report back to you on is about allegations that were levelled against our country earlier this year regarding a Russian ship that docked in Simonstown late last year, where it was alleged that South Africa had supplied weapons to Russia during the current Ukraine-Russia conflict.

 

In recent months, statements from several quarters have used these allegations to call into question South Africa’s commitment to its position on the Russia-Ukraine conflict.

 

The allegations levelled against our country had a damaging effect on our currency, economy and our standing in the world.

 

To ensure that the docking of the Russian ship in Simonstown was thoroughly investigated, I appointed a three-member independent panel in May to enquire into the circumstances of the docking of this Russian vessel, known as Lady R.

 

The panel was chaired by Judge Phineas Mojapelo. The other members of the panel were Adv Leah Gcabashe SC and Mr Enver Surty.

 

I wish to thank the panel for the considerable amount of work it undertook in a relatively short period of time.

 

During the course of its work, the panel visited Simonstown naval base and obtained evidence under oath from nearly 50 people in every relevant component of government. More than 100 documents were submitted to the panel for examination.

 

A number of entities and persons that had publicly claimed to have information on this matter were invited to make submissions to the panel. Many of those invited either failed to do so or said they had no independent knowledge of the relevant facts.

 

From its investigation, the panel found no evidence that any cargo of weapons was loaded for export onto the ship Lady R.

 

The panel found that there was no evidence to support the claim that the ship transported weapons from South Africa destined for Russia.

 

The panel established that the ship docked at Simonstown to deliver equipment that had been ordered for the South African National Defence Force in 2018 by Armscor, the country’s arms procurement company.

 

In terms of the contract for the supply of the arms, neither Armscor nor the South African National Defence Force had any control over the means through which the supplier of the ordered equipment would transport them to South Africa.

 

In its report, the panel outlined the circumstances that led to the docking of the vessel in Simonstown, as well as the type of goods supplied and the reasons why the goods were unloaded at the time they were offloaded.

 

South Africa has clear laws that regulate the issuing of permits regarding the importation and exportation of conventional arms. All relevant permits had been obtained for the importation of the equipment that were delivered by the ship. No permit was issued for the export of arms and no arms were exported.

 

The panel did not find any evidence of criminal conduct by any persons involved. However, the panel made findings and recommendations with respect to the functioning of the National Conventional Arms Control Committee. It also made recommendations about the improvement of communication between Ministers and government officials, including the adequacy of the relevant administrative processes.

 

Given the fact that the evidence given to the panel was classified and the fact that revealing the details of the equipment offloaded could jeopardise the work and safety of South Africa’s forces in various deployments on the continent, I have decided not to release the report.

 

In deciding not to release the report, I have taken account of the laws that both mandate openness and transparency and require that certain information that may be prejudicial to the defence and security of the Republic be kept classified and confidential.

 

To reveal the details of the equipment offloaded would compromise important military operations and put our soldiers’ lives at risk.

 

Under these circumstances, when lives would be at risk due to the revelation of the type of equipment that is utilised by our armed forces, the need for confidentiality is both necessary and justified.

 

When all matters are considered, none of the allegations made about the supply of weapons to Russia have been proven to be true, and none of the persons who made these allegations could provide any evidence to support the claims that had been levelled against our country.

 

I have noted the panel’s findings and recommendations with respect to the efficiency and efficacy of the relevant administrative and maritime transport processes and have directed that an implementation plan be developed to address these.

 

The panel has given me an executive summary of the report, which I have decided to release publicly.

 

Both of the matters on which I have reported this evening – the XV BRICS Summit and the investigation into the Russian ship that docked at Simonstown – are relevant to the principles that inform our relations with the rest of the world.

 

Our policy of non-alignment and our efforts to build friendly relations with all countries is driven by a commitment to a world that is peaceful and stable.

 

That is why we will continue to pursue a foreign policy that advances the interests of our country and the progress of our people, and that promotes human rights, peace, justice and equal development across the world.

 

May God continue to bless South Africa and its people.

Nkosi Sikelel’ iAfrika.

Morena boloka setjhaba sa heso.

God seën Suid-Afrika.

Mudzimu fhatutshedza Afrika Tshipembe.

Hosi katekisa Afrika.

 

Good night.

 

ISSUED BY THE PRESIDENCY OF THE REPUBLIC OF SOUTH AFRICA

President Ramaphosa to address the nation, 3 September 2023

President Cyril Ramaphosa will this evening, Sunday, 3 September 2023, address the nation on the outcomes of the XV BRICS Summit and on the conclusion of the panel investigation into the docking of the Lady R vessel in South Africa.

 

eNCA will provide a feed to all media and PresidencyZA will live stream the proceedings.

 

Time: 20h00

 

Media enquiries: Vincent Magwenya, Spokesperson to the President – 082 835 6315

 

ISSUED BY THE PRESIDENCY OF THE REPUBLIC OF SOUTH AFRICA

BRICS member states, Africa CDC and WHO commit to collaborate with Business sector on Pandemic Prevention, Preparedness and Response, 28 August 2023

On 28 August 2023, the Ministry of Health in South Africa, the Africa Centre for Disease Control and Prevention (Africa CDC), Africa Health Business and the South African Chapter of the BRICS Business Council co-hosted a successful dialogue on the margins of the BRICS summit to deliberate on a potential African Union and BRICS framework of cooperation for Pandemic, Preparedness, Prevention, Response and Recovery (3P2R).

Welcome Remarks by BRICS Chair, President Cyril Ramaphosa at the BRICS–Africa Outreach and BRICS Plus Dialogue, 24 August 2023

Your Excellency, Mr António Guterres, Secretary-General of the United Nations,

 

Your Excellency, President Azali Assoumani, President of the Union of the Comoros and Chair of the African Union,

 

Your Excellencies, Leaders of BRICS nations,

 

Leaders of Africa and the Global South,

 

Leaders of Global and Regional Institutions,

 

Honourable Ministers,

 

Distinguished Guests,

 

It is a great honour to welcome you to South Africa for the BRICS-Africa Outreach and BRICS Plus Dialogue.

 

When reflecting on the purpose and role of BRICS in the world today, we recall the Bandung Conference of 1955, where Asian and African nations demanded a greater voice for developing countries in world affairs.

 

The Conference called for the recognition of the equality of all nations, large and small.

 

We still share that common vision of a fair and just world.

 

We still seek to overcome polarity and division. We want a world without barriers between North and South, East and West.

 

We still seek a world in which we work together underpinned by mutual respect.

 

Through the XV BRICS Summit and this Dialogue we should strive to advance the Bandung spirit of unity, friendship and cooperation.

 

In South Africa we have a world for this: Ubuntu.

 

Ubuntu is a practice based on the understanding that our success, prosperity and well-being depend on the success, prosperity and well-being of others.

 

We see the BRICS partnership as a catalyst for global growth and development that responds to the needs of all nations.

 

It is the right of Africa and the entire Global South to fully reap the benefi ts of global trade and investment. Without trade and investment our economies cannot thrive and our peoples’ material conditions cannot improve.

 

As the African continent, we are determined that the continent’s substantial resources are harnessed for the benefit and development of Africa’s people.

 

The African Continental Free Trade Area, once fully operational, will unlock the benefits of the continental market and generate substantial opportunities for Africa and other countries.

 

To make use of these opportunities, Africa is looking to the BRICS partnership to unlock infrastructure and development financing.

 

This was part of the founding vision of the New Development Bank.

 

The Bank is playing a leading role in efforts to increase the resilience of the Global South, and to bring fairness to global trading and financial systems by strengthening the use of BRICS currencies.

 

We have to reform global economic, financial and political governance, including the multilateral trading system, so that we create a conducive environment for fair trade.

 

While many countries of the Global South are seeing significant progress in industrialisation, technological development, innovation and the digital economy, they are not fully reaping the economic benefits.

 

By working together, by sharing skills and capabilities, by mobilising resources, we will be able to give renewed impetus to global growth and sustainable development.

 

We need to move beyond expressions of solidarity towards inclusion and mutually beneficial economic cooperation.

 

We trust that this dialogue will provide leadership, vision and hope as we strive together for a better Africa and a better world.

 

I thank you.

 

 

ISSUED BY THE PRESIDENCY OF THE REPUBLIC OF SOUTH AFRICA

BRICS CHAIR President Cyril Ramaphosa’s Media Briefing Remarks Announcing the Outcomes of the XV BRICS Summit, 24 August 2023

Excellencies,

 

Members of the Media,

 

Good Afternoon,

 

We successfully concluded the XV BRICS Summit yesterday.

 

It is the first BRICS Summit to be hosted in-person since the COVID-19 pandemic and the subsequent global travel restrictions.

 

Leading up to the Summit, there was a wide-ranging BRICS business programme aimed at attracting investment, promoting collaboration and showcasing opportunities within South Africa, Africa and BRICS countries.

 

We welcome the clear vision of Ms Dilma Rousseff as the President of the New Development Bank on the role that the Bank should play in support of infrastructure and sustainable development in Africa and the Global South.

 

We celebrated the 10th anniversary of the establishment of the BRICS Business Council and welcomed the self-review by the Council and the subsequent recommendations made to Leaders.

 

We also welcomed the work of the BRICS Women’s Business Alliance in their first in-person engagement with leaders. We particularly welcomed the participation of youth representatives in the Summit.

 

We addressed our expectations for the BRICS economic partnership to generate tangible benefits for our communities and deliver viable solutions for common challenges faced by the global South.

 

We shared our vision of BRICS as a champion of the needs and concerns of the peoples of the Global South. These include the need for beneficial economic growth, sustainable development and reform of multilateral systems.

 

We reiterate our commitment to inclusive multilateralism and upholding international law, including the purposes and principles enshrined in the United Nations Charter.

 

We are concerned about ongoing conflicts in many parts of the world. We stress our commitment to the peaceful resolution of differences and disputes through dialogue and inclusive consultation.

 

The Summit noted that an unbalanced recovery from the hardship of the COVID-19 pandemic is exacerbating inequality across the world.

 

We encourage multilateral financial institutions and international organisations to play a constructive role in building global consensus on economic policies.

 

We have noted that there is global momentum for the use of local currencies, alternative financial arrangements and alternative payment systems.

 

As BRICS, we are ready to explore opportunities for improving the stability, reliability and fairness of the global financial architecture.

 

The Summit agreed to task the BRICS Finance Ministers and/or Central Bank Governors, as appropriate, to consider the issue of local currencies, payment instruments and platforms and report back to the BRICS leaders by the next Summit.

 

This Summit reaffirmed the importance of BRICS people-to-people exchanges in enhancing mutual understanding, friendship and cooperation.

 

The Summit appreciates the progress made over the last year in the fields of media, culture, education, sports, arts, youth, civil society and academic exchanges.

 

We adopted the Johannesburg II Declaration which reflects key BRICS messages on matters of global economic, financial and political importance.

 

It demonstrates the shared values and common interests that underlie our mutually beneficial cooperation as the five BRICS countries.

 

BRICS itself is a diverse group of nations.

 

It is an equal partnership of countries that have differing views but have a shared vision for a better world.

 

As the five BRICS countries, we have reached agreement on the guiding principles, standards, criteria and procedures of the BRICS expansion process, which has been under discussion for quite a while.

 

We have consensus on the first phase of this expansion process, and further phases will follow.

 

We have decided to invite the Argentine Republic, the Arab Republic of Egypt, the Federal Democratic Republic of Ethiopia, the Islamic Republic of Iran, the Kingdom of Saudi Arabia and the United Arab Emirates to become full members of BRICS. The membership will take effect from 1 January 2024.

 

We value the interest of other countries in building a partnership with BRICS.

 

We have tasked our Foreign Ministers to further develop the BRICS partner country model and a list of prospective partner countries and report by the next Summit.

 

Today, we will be hosting leaders from Africa and the Global South in the BRICS-Africa Outreach and BRICS Plus Dialogue.

 

This is so that we can have an inclusive dialogue on key issues affecting developing economies and identify actions that we can take together towards a more equitable, inclusive and representative world.

 

May I conclude by thanking the leaders of Brazil, Russia, India and China, together with their delegations, for participating in this most successful XV BRICS Summit held in Johannesburg, South Africa.

 

Through this Summit, BRICS has embarked on a new chapter in its effort to build a world that is fair, a world that is just, a world that is also inclusive and prosperous.

 

I thank you.

 

ISSUED BY THE PRESIDENCY OF THE REPUBLIC OF SOUTH AFRICA

BRICS Chair President Ramaphosa to announce the Outcomes of the XV BRICS Summit

The President of the Republic of South Africa and Chair of BRICS, His Excellency Cyril Ramaphosa will announce the outcomes of the XV BRICS Summit on Thursday, 24 August 2023, at the Sandton Convention Centre, Johannesburg.

 

For XV BRICS Summit accredited media only.

 

TIME: 8h45

 

VENUE: Media to converge at the Media Centre, Level -2, by 07h30)

 

For Media logistics enquiries contact Nelson Kgwete on 0764313078 and Terrence Manase on 0823386707

 

Media enquiries: Vincent Magwenya, Spokesperson to the President – 082 835 6315

 

ISSUED BY THE PRESIDENCY OF THE REPUBLIC OF SOUTH AFRICA

Welcome Remarks by President Cyril Ramaphosa on the occasion of the Cultural Performance and State Banquet of the XV BRICS Summit, 23 August 2023

Your Excellencies, Leaders of the BRICS nations,
Your Excellencies, Leaders from across Africa,
Your Excellencies, Leaders of the Global South,
Representatives of global and regional institutions,
Honourable Ministers,
Excellencies,
Distinguished Guests,

 

Good Evening.

 

Thank you for accepting my invitation to join us tonight as we celebrate being together on a night which I trust you will find joyful and pleasant.

 

It is also a night when we thank you for joining the BRICS countries prior to tomorrow’s BRICS Outreach programme.

 

The BRICS group of countries incorporates the peoples, cultures and traditions of more than 3 billion people.

 

We are united by our common vision and common goals.

 

Our diversity is our greatest strength, and tonight you will get to experience the rich tapestry of cultures, traditions and foods of South Africa.

 

Our head chef tonight is Wandile Mabaso, a world class chef who pairs classical French techniques with the wonderful flavours of South Africa.

 

He is joined by Xolani Mancotywa, a qualified beverage steward and chef who has reimagined traditional African cuisine and authentic African fine dining.

 

Your culinary journey of South Africa follows a cultural journey across our nation’s diverse cultures.

 

We hope that this evening you will experience South Africa’s story, one that interweaves our many different cultures, traditions and languages as the foundation of an inclusive nation.

 

It is a story that reflects the nature and purpose of BRICS, which values partnership and cooperation in a spirit of openness and solidarity.

 

As BRICS – and all of Your Excellencies who have joined us tonight from many countries – we will all tomorrow articulate how we will foster change in the world for the benefit of all the peoples of the world.

 

Tonight is a night when we even more reason to celebrate as BRICS partners.


A few hours ago this afternoon, India made history as the first country to successfully land a lunar module on the south pole of the Moon.

 

We congratulate Prime Minister Modi, the government and people of India and the Indian Space Research Organisation on the success of the Chandraayan-3 mission.

 

Pushing forward the frontiers of scientific endeavour is integral to human progress.

 

In anticipation of this great achievement Prime Minister Modi proposed at our BRICS Summit this afternoon that BRICS should set up a Space Exploration Commission where, as BRICS countries, we can share knowledge and experiences.

 

The more we learn about this world we live in and beyond, the greater our capacity to improve it and to elevate the human condition.

 

In the words of the great poet and Nobel Laureate Rabindranath Tagore:


“We are in a palace which has no end, but which we have reached. By exploring it and extending our relationship with it, we are ever making it more and more our own.”

 

This and many other achievements enable us to move forward to prosperity, to progress and to peace.


Once again welcome and please do enjoy this celebration of unity, diversity and shared progress.

 

I thank you.

 

ISSUED BY THE PRESIDENCY OF THE REPUBLIC OF SOUTH AFRICA

Speaking Notes by the Global Chair of the BRICS Business Council, Ms Busi Mabuza, 23 August 2023

  • Your Excellency President Cyril Ramaphosa, the President of the RSA and the 2023 Global Chair of BRICS
  • Your Excellency President Lula da Silva, the President of Federative Republic of Brazil
  • Your Excellency Minister Sergey Lavrov, the Minister of Foreign Affairs of the Russian Federation
  • Your Excellency Prime Minister Narendra Modi, the Prime Minister of India of the Republic of India
  • Your Excellency President Xi Jinping, the President of the People’s Republic of China
  • Ministers of BRICS Countries
  • Ambassadors of the BRICS Countries,

Chairpersons of the BRICS Business Council:

  • Jackson Schneider
  • Mr Sergey Katyrin
  • Onkar S Kanwar
  • Mr Chen Siqing
  • Members of the BRICS Business Council

 

Ladies and gentlemen,

PRIORITIES

It is with great honour and privilege that I stand before you today as the 2023 Global Chair of the BRICS Business Council to present our Annual Report. As the leaders of the BRICS nations, we recognize the strength and potential of this alliance in fostering economic cooperation and driving global growth.

 

Firstly: At the beginning of the year, we identified priorities for the 2023 Chairship. We prioritized several key areas to further enhance the economic ties among BRICS countries. These included:

  • Developing a partnership towards an equitable just transition. In this regards the BRICS Centre of Excellence in Africa will be established, the centre will evolve into a BRICS Energy Agency which seeks to drive: Increased Collaboration, Enhanced Research, and Innovation in Energy, provide Skill Development and Capacity Building, Energy Trends, Collaborate with International Organizations, Data and Statistics Repository and be the leader Policy Formulation Centre for the BRICS energy community and beyond.

 

  • Transforming education and skills development for the future. We have Intensified programmes of knowledge, skills exchange, and work within our BRICDS partners and identified more education and empowerment driven opportunities to unlock the potential that resides in our developing nations.
  • Unlocking the opportunities in the African Continental Free Trade Area (AfCFTA). This historic trade agreement envisages a single market encompassing the entire African continent, facilitating trade and investment on an unprecedented scale. As the BRICS Business Council, we must seize this opportunity to forge closer ties with Africa and align our interests to drive inclusive and sustainable growth across both regions.

AGREED JOINT STATEMENT ON TRADE AND INVESTMENT

Secondly, I wish to highlight the Agreed Joint Statement on Trade and Investment.

  • This statement is a testament to our commitment to reducing barriers, improving trade facilitation, and promoting investments among the BRICS nations. Through this agreement, we collectively pledge to drive trade and investment promotion, across all sectors, to contribute towards the fair-trade balance, and inclusive trade practices, while encouraging investment flows that benefit all our economies.

INTRA WORKING GROUP AND COMMERCIAL MOU

Thirdly, we are proud to share that we have signed an Intra Working Group MOU and Commercial MOU.

  • These agreements serve as critical instruments for enhancing coordination and cooperation within our business council. The Intra Working Group MOU will facilitate better collaboration among our working groups, ensuring efficient communication and exchange of ideas.
  • Furthermore, the Commercial MOU between two DFIs (Republic of South Africa and People’s Republic of China) will boost commercial ties, generate business opportunities, and promote mutual growth between these two countries.

TRADE AND INVESTMENT POSTURE AMONG OUR NATIONS

  • We have witnessed an upward trajectory in growth in trade volumes and investments among BRICS countries. However, we also recognize the challenges posed by tariff barriers, non-tariff measures, and regulatory complexities which hinder the full potential of our trade and investment capabilities.
  • We agree looking ahead, the opportunity for intra-BRICS and BRIC-Africa investment remains promising. However, more effort is required to make investment a key driver of economic cooperation among the BRICS and BRIC-Africa, and to bring more benefits for sustainable and inclusive economic development in the bloc and promote industrialisation on the African Continent.

10 YEAR REFLECTION AND LOOKING AHEAD TO THE NEXT DECADE (2023-2033)

  • As, we reflect on the accomplishments of the past decade, The potential impact of a new BBC on the global trade remains uncertain, with experts debating its potential to challenge other business blocs and bilateral agreement with countries. However, as a platform representing the interests of the business community in five emerging economies it has greatly contributed to strengthening economic cooperation and fostering investment opportunities among its member countries.
  • It is crucial to look ahead to the next 10 years of the BRICS Business Council. The BRICS trade and investment posture must adapt to the evolving global landscape. The next decade must strongly focus on strengthening and promoting economic, trade, business, and investment ties among the business communities of the five BRICS countries. This can be achieved through:
  • fostering the regulatory harmonization to increase trade between member countries,
  • the identification of trade barriers within specific industries, and recommendations on how these barriers may be overcome through multilateral or bilateral solutions, and
  • building an inclusive and diverse environment for trade and investment to provide opportunities for small and medium-sized enterprises, in our BRICS nations and the African continent.

In conclusion, esteemed your Excellencies, esteemed Ministers, and BRICS Council Chairpersons, I would like to express my sincere gratitude for the opportunity to present this BBC 2023 Annual report on behalf of the BRICS Business Council.  The recommendations for 2023, the Agreed Joint Statement on Trade and Investment, the signed MOUs, the trade &investment posture, and our next 10-year plans highlight our commitment to:

  • Advancing economic partnerships,
  • Mutual prosperity among BRICS countries, and
  • Building a BRICS Business Council that not only serves the interests of our member nations but also acts as a catalyst to drive an upward economic change across the world.

We look forward to the continued support and collaboration of our governments as we work together towards a brighter future.

 

I thank you.