Your Excellency, President Luiz Inácio Lula da Silva,

Your Excellency, Prime Minister Narendra Modi,

Ministers and Officials,

Business Leaders,

Friends,

It is a great honour to participate in this Leaders’ Session of the BRICS Business Forum.

I thank you all for your attendance and participation.

The BRICS group of countries exists not only to strengthen government-to-government relations, but also to forge stronger ties between the peoples of our five nations. It is for this reason that several bodies have been established to enable cooperation across society.

The BRICS Business Council is a vital and vibrant platform for strengthening economic ties between our respective countries and in forging common perspectives on inclusive economic growth and development.

The changes that have taken place in BRICS economies over the past decade have done much to transform the shape of the global economy.

Together, the BRICS countries make up a quarter of the global economy, they account for a fifth of global trade and are home to more than 40 percent of the world’s population.

As we celebrate the 15th anniversary of BRICS, trade between BRICS countries totalled some $162 billion last year.

Foreign investment has played an important role in the growth of BRICS economies.

Total annual foreign direct investment into BRICS countries is four times greater than it was 20 years ago.

However, the new wave of protectionism and the subsequent impact of unilateral measures that are incompatible with WTO rules undermine global economic growth and development.

We therefore need to reaffirm our position that economic growth must be underpinned by transparency and inclusiveness. It must be compatible with a multilateral trading system that supports a developmental agenda.

We require a fundamental reform of the global financial institutions so that they can be more agile and responsive to the challenges facing developing economies.

In this respect, the New Development Bank, established by BRICS countries in 2015, is leading the way. Since its formation it has demonstrated its ability to mobilise resources for infrastructure and sustainable development in emerging economies without conditionalities.

BRICS economies have emerged as powerful engines of global growth.

Yet the rapid economic, technological and social changes underway create new risks for employment, equality and poverty in many BRICS countries.

We therefore call on the business community to join hands with us to identify solutions to these and other challenges affecting our respective economies.

From a South African perspective, there is massive untapped potential for investment in our country and on the African continent.

In recognition of this potential, the theme for this XV BRICS Summit is:

‘BRICS and Africa: Partnership for Mutually Accelerated Growth, Sustainable Development, and Inclusive Multilateralism’.

Africa is a continent of great opportunity in the industrialisation process in a variety of sectors.

Africa is a continent rich in the critical minerals that will drive business success in the 21st Century.

The continent has resources of lithium, vanadium, cobalt, platinum, palladium, nickel, copper, rare earth minerals, rhodium and many others.

African countries have made it clear that the investors of choice are those who will process the resources here, close to source.

We are developing stronger regional value-chains that will connect a number of African countries, providing investors with diversity, strength and resilience.

The African Continental Free Trade Area creates a single market that is expected to grow to 1.7 billion people and nearly $7 trillion in consumer and business spending by 2030.

The success of the African Continental Free Trade Area will require a massive investment in infrastructure. We need to mobilise the substantial financing needed to build the roads, ports, rail, energy and telecommunications networks that will enable industrialisation and trade.

Growth in African economies will be driven in the main by small and medium enterprises. This requires focused and effective support to these businesses. It is important that specific financing be directed to women-owned businesses so that they can harness the benefits of the continental free trade area.

Africa has a young, digitally connected and urbanising population, which provides a stable workforce for companies in future. The investment in skills development is growing.

These factors all position Africa as the next frontier of productivity and growth.

BRICS countries have an opportunity to contribute to and participate in Africa’s growth story. This can be achieved through greater cooperation in areas such as infrastructure, agriculture, manufacturing, new energy and the digital economy.

South Africa has an important position in this growing African market, facilitated by the African Continental Free Trade Area and other free trade agreements.

South Africa’s industrial strength, our mineral endowments and our large market opportunities provide a compelling value-proposition for companies wanting to establish their businesses here.

South Africa has significant industrial capacity, with Africa’s most advanced industrial innovation and fabrication base.

Firms that have invested here recognise that South Africa has deep local capital markets and strong financial systems. We have a diverse and sophisticated economy.

South Africa possesses world-class infrastructure, skills, abundant natural resources, industrial clusters and a host of incentives to support investment.

Many investment and partnership opportunities exist in renewable energy, infrastructure, aquaculture, ICT, automotives, pharmaceuticals and advanced manufacturing, among others.

It is clear from the report that we have received that this has been a most productive Business Forum.

I commend the BRICS Business Council, the respective Ministers and officials and all the business leaders that continue to contribute to this valuable work.

I sincerely hope that your participation in this BRICS Business Forum will yield the productive outcomes required for us to catapult BRICS economies towards more equitable and accelerated growth.

I thank you.

ISSUED BY THE PRESIDENCY OF THE REPUBLIC OF SOUTH AFRICA

Honourable Ministers, Distinguished dignitaries, Esteemed guests, ladies and gentlemen representing the realms of business and media, I extend to you a warm Sanibonani, Dumelang, Goeie more and Good morning!

Thank you for the kind introduction, Ashraf, and thank you, Honourable Ministers, for the context you have set and the insights you have shared, which are invaluable as we begin our programme for the BRICS Business Forum today.

Ladies and gentlemen, on behalf of the SA BRICS Business Council, I would also like to take this opportunity to extend a warm welcome to you all.

It is undoubtedly a privilege to be in the presence of so many distinguished representatives from across the BRICS Nations and the African Continent.

SETTING THE SCENE/ CONTEXT

I’m looking forward to the content rich programme under the over-arching theme of  “Making Accelerated Growth and Sustainable Development a Reality”.

Today, we are here to discuss the critical issues that the BRICS nations, and the continent faces. Our agenda provides us with a unique platform for networking, knowledge sharing, and collaboration with business leaders, entrepreneurs, investors, thought leaders, policy makers from across Brazil, Russia, India, China, and the African Continent. We are extremely honoured that our programme is presided over by our respective Heads of State.

THEMES/ PANELS

We have curated diverse sessions and panel discussions with representation from each of the BRICS countries, and the African continent.

• During the day, we will investigate the rules and regulations required to establish a working framework that can help to accelerate trade and investment across our economies. In an increasingly interconnected world, it is important for the BRICS nations to come together to build our economies through strengthening economic partnerships and unlock new opportunities and overcome shared challenges.
• We will explore agricultural development and synergies in the BRICS countries, as we strive for sustainable growth, it is important to address the critical issues facing the agricultural industry. Through the promotion of technological advancements, knowledge sharing, and agricultural finance, we can revolutionize agricultural practices and ensure food security for our nations.
• The other important panel discussion will focus on delivering a just transition. As we deal with the complexities of societal challenges &climate issues, we must build a pathway that ensures inclusivity and leaves no one behind. By promoting economic growth that embraces social equity and builds resilient societies that flourish under sustainable path for all.
• The entrepreneurial opportunities and market access as key enablers for small and medium-sized enterprises (SMEs) is another important conversation. BRICS grouping’s economic growth is depended on the success of our SMEs. By creating an enabling environment for entrepreneurship, providing market access, financial resources and supporting SMEs with favourable policies we can unleash their potential and drive sustainable growth for the BRICS nations.
• Africa also takes centre stage today with the African Continental Free Trade Area as a key theme on our agenda. The goal of creating the largest Free Trade area in the world across the African Continent is gaining momentum, and the opportunity looms large for BRICS nations in the context of a united Africa from a trade perspective.

POSTURE OF THE BUSINESS FORUM

• In today’s interconnected world, collaboration can help us not only to navigate the many challenges we continuously face but also help us to capitalise on opportunities that regularly present themselves. By working together, we can harness our collective strengths, leverage our respective expertise, and unlock new avenues for sustainable growth.

• Undoubtedly, the BRICS nations are at the forefront of technological advancements and digital transformation, and by jointly harnessing the power of technology, we can drive efficiencies and create new areas for business growth across our economies.

We must prioritise the needs of the most vulnerable and marginalised among us and place inclusive growth and shared sustainable growth the core of our collective efforts. Investing in education, healthcare, and social infrastructure, can uplift our populations and create a brighter future for future generations.

The recommendations from the 2023 Annual report certainly indicate this focus. It was excellent to listen to the recommendations from the Working Group Chairs yesterday. I’d like to express my sincere gratitude for the many hours of work that have gone into the agreed recommendations that are in the annual report which will be presented to the Heads of State tomorrow.

As we go about today’s agenda, we must also take time to acknowledge and celebrate that our combined economic might and diverse resources are a driving force in the global economy. To add further context, remember that as the BRICS nations, we account for 25% of international trade, contribute over 30% of global GDP, and makeup just over 40% of the world’s population.

CONCLUSION

I encourage you all to make the most of the BRICS Business Forum and actively engage with one another, share your experiences, avenues for international trade and investment and propose actionable solutions that will shape the future of our nations and  the African continent.

Throughout our discussions, we must remember that our strength lies not only in our shared challenges but also in our shared aspirations. We must collaborate, exchange ideas, and learn from each other’s experiences. By working together, we can create an environment that promotes a sustainable development and unleashes the transformative power of our BRIC nations and the African continent.

Finally, As you go about shaping this BRICS business forum, I leave you with a well-known Quote from President Nelson Mandela, “It is in your hands to make a better world for all who live in it.”

Thank you

Fellow South Africans,

I would like to address you this evening on South Africa’s foreign policy in the light of our country being the host of the 15th BRICS Summit.

I would also like us to understand and appreciate the significance of this gathering for our country and the African continent.

A day ahead of the Summit, we will receive President Xi Jinping, President of the People’s Republic of China on his fourth state visit to South Africa.

This BRICS Summit and the State Visit by President Xi Jinping, as well as the many bilateral engagements we will have with President Lula Da Silva of Brazil, Prime Minister Modi of India and many other heads of state on the sidelines of the Summit, have a bearing on our relationships with other countries and South Africa’s place in the world.

To understand why these relations are so important for our country and its people, we need to understand the principles and the values that shape our foreign policy and inform our international relations.

Before the dawn of democracy in 1994, the apartheid South African state was a pariah in the international community, condemned for committing a crime against humanity.

The foreign policy of apartheid South Africa was defined by coercion, destabilisation and military aggression.

Since the advent of democracy, South Africa’s foreign policy has been based on what our forebears inscribed in the Freedom Charter in 1955, when they declared that:

“South Africa shall be a fully independent state which respects the rights and the sovereignty of all nations; South Africa shall strive to maintain world peace and the settlement of all international disputes by negotiation – not war”.

This foreign policy approach is also a product of the efforts of leaders such as the late Oliver Tambo who mounted a vigorous worldwide campaign to secure global support for our just struggle against apartheid.

This put South Africa on the global map in relation to the interests of its people whilst the world condemned its apartheid rulers.

Indeed, our foreign policy is a matter that is vital to our progress as a nation.

Through stronger relations with other countries, manifested through investment and trade relations, we can grow our economy, create more opportunities for new businesses and create jobs.

South Africa’s foreign policy aims to promote our National Interest based on the protection and promotion of our national sovereignty and constitutional order.

It is also aimed at improving the well-being, safety and prosperity of our citizens, and the achievement of a better Africa and world.

The key pillars of our foreign policy include the promotion of human rights, peace and stability and the strengthening of trade and investment ties with other countries.

The foreign policy stance we have taken since the advent of democracy has positioned South Africa as a reliable and influential partner on our continent and in the world.

This has enabled our country to have friendly and valuable relations with countries around the world at political, diplomatic, trade, investment, sporting, social and many other levels.

It is these principles that guide our participation in BRICS.

Together, the members of BRICS – Brazil, Russia, India, China and South Africa – make up a quarter of the global economy, they account for a fifth of global trade and are home to more than 40 per cent of the world’s population.

BRICS as a formation plays an important role in the world due to its economic power, market potential, political influence and development cooperation.

Yet the value of BRICS extends beyond its sheer size.

BRICS countries can collectively shape global dynamics, and acting together, have the potential to drive significant changes in the world economy and international relations.

Together, the BRICS members have used their collective voice to call for a world that is more equitable, balanced and governed by an inclusive system of global governance.

Being a BRICS member has created positive opportunities for South Africa.

It has enabled our country to have a strategic relationship with China.

Based on the strategic relationship between South Africa and the People’s Republic of China we will be signing several agreements during President Xi’s State visit.

We have steadily strengthened trade and investment ties with other BRICS countries alongside collaboration in areas like development, skills, technology, security and innovation.

South Africa has benefited from the New Development Bank, which was established by the BRICS countries in 2015.

Our country has been funded by the bank in several infrastructure projects to the value of R100 billion in sectors such as roads, water and energy.

South Africa has always championed the interests of Africa within BRICS.

To further advance the African development agenda, more than 30 Heads of State and Government from across Africa will be attending the summit.

We want to build a partnership between BRICS and Africa so that our continent can unlock opportunities for increased trade, investment and infrastructure development.

There are great opportunities for other BRICS countries to participate in the African Continental Free Trade Area by locating production and services in various countries on the African continent, including our own, by partnering with local companies and entrepreneurs.

The 15th BRICS Summit will discuss a number of issues including the important issue of the possible expansion of the membership of BRICS.

More than 20 countries have formally applied to join BRICS and several others have expressed an interest in becoming part of the BRICS family.

South Africa supports the expansion of the membership of BRICS.

The value of BRICS extends beyond the interests of its current members.

For its efforts to be more effective, BRICS needs to build partnerships with other countries that share its aspirations and perspectives.

An expanded BRICS will represent a diverse group of nations with different political systems that share a common desire to have a more balanced global order.

In addition to the other African leaders in attendance, we will also be welcoming leaders from several countries of the Global South.

These include countries from the Caribbean and South America, from the Middle East, from West Asia, South Asia and South-East Asia.

This BRICS Summit is particularly important as it is being held as the world is confronted by fundamental challenges that are bound to determine the course of international events for years to come.

Our world has become increasingly complex and fractured as it is increasingly polarised into competing camps.

Multilateralism is being replaced by the actions of different power blocs, all of which we trade with, invest with, and whose technology we use.

It is for this reason that South Africa continues to advocate for an open and rules-based global governance, trade, financial and investment system. It must be a system that does not depend on the exercise of power or unilateralism, but by the advancement of the interests of the peoples of the world.

It is in this rule base system that we seek to advance African prosperity and industrialisation. We seek to change the rules to be fairer but ultimately, we want to promote an open system of economic and political relations.

Amid all these challenges, Africa remains at the centre of our foreign policy.

We are firmly committed to strengthening the African Union so that it increases its capacity to support the achievement of greater integration on the continent.

We are working towards the full implementation of the African Continental Free Trade Area, which is set to eliminate trade barriers, boost intra African trade and achieve prosperity for all of Africa.

It will also accelerate manufacturing and industrial capacity on our continent.

The vibrant trading Africa we seek to build depends on Africa being stable and peaceful.

For Africa to thrive, we must silence the guns.

We continue to work within the African Union to end several ongoing conflicts on the continent and restore constitutional and democratic government to countries that have recently experienced coups.

South Africa is directly involved in a number of efforts to bring peace to Africa.

We are currently involved in supporting the people of Mozambique and the DRC to ensure that there is peace and stability in their countries.

The administration I have the honour to lead has been devoted to attracting greater trade and investment into South Africa.

Every visit we make to countries on our continent and across the world and every visit by heads of state from other countries focuses on strengthening economic ties.

When a foreign leader visits our country for a state visit, they are usually accompanied by a business delegation. We are usually accompanied by South African companies when we travel to other countries.

The Business Forums that are held during these visits result in greater trade, investment and business partnerships.

To further strengthen economic ties between African countries and the United States, South Africa is inviting more than 30 African trade ministers and senior US Administration and Congressional representatives to the next forum of the African Growth and Opportunity Act – AGOA – scheduled for November this year.

As part of our ongoing relationship with the countries of the European Union, we will hold the European Union-South Africa Summit later this year in South Africa to foster our investment and trade relations.

Recent trade statistics indicate the success of all our international links.

Within the first three months of this year, we exported R450 billion worth of goods in the mining, manufacturing, and agricultural sectors. Our biggest exports were to China, followed by the United States, Germany, Japan, and then India.

Exports to other African countries account for around a quarter of the value of all our exports.

Our tourism industry is recovering well from the effects of the COVID-19 pandemic.

More than 4 million tourist arrivals were recorded in the first half of this year, almost twice as many arrivals as in the same period last year.

Companies across the globe have established new or expanded ventures in our country in sectors as diverse as energy, mining, vehicle production, the creative sector, manufacturing and many others.

For every rand we attract, jobs are created and sustained.

Our country is committed to a policy of non-alignment.

We have resisted pressure to align ourselves with any one of the global powers or with influential blocs of nations.

During the ‘Cold War’, the stability and sovereignty of many African countries was undermined because of their alignment with the major powers.

This experience has convinced us of the need to seek strategic partnerships with other countries rather than be dominated by any other country.

While some of our detractors prefer overt support for their political and ideological choices, we will not be drawn into a contest between global powers.

Instead, our country strives to work with all countries for global peace and development.

It is for this reason that South Africa is a member of the Non-Aligned Movement, a forum of 120 countries that are not formally aligned with or against any major power bloc.

Our decision not to align with any one of the global powers does not mean that we are neutral on matters of principle and national interest.

Our non-aligned position exists alongside our active support for the struggles of the oppressed and marginalised in different parts of the world.

We have always believed that the freedom we won – and the international solidarity from which we benefited – imposes a duty on us is to support the struggles of those who continue to experience colonialism and racial oppression.

That is why we will continue to support the struggles of the people of Palestine and Western Sahara.

We are fully committed to the articles of the United Nations Charter, including the principle that all members shall settle their international disputes by peaceful means.

Most recently, we participated in the African initiative to seek peace in the Ukraine-Russia conflict.

Through this African Peace Initiative our country continues to be involved in processes to ensure that children who were removed from their homes in Ukraine are returned to their families and that prisoners of war are exchanged.

We continue to be involved in the talks regarding the reopening of the Black Sea to facilitate the flow of grain.

We firmly believe that dialogue, mediation and diplomacy is the only viable path to end the current conflict and achieve a durable peace.

We support the principle of respect for the territorial integrity and sovereignty of all states and peoples.

In the midst of the grave challenges facing humanity, we are determined that a reformed and representative United Nations must be at the centre of global affairs.

Our support for the United Nations exists alongside our firm belief that this premier multilateral institution needs genuine reform to make it more democratic, representative and efficient.

The United Nations Security Council must be transformed into a more inclusive, more effective body that is able to ensure peace and security.

South Africa, as a member of the community of nations, will continue to play a constructive role in world affairs.

In 2025, South Africa will assume the presidency of the G20 group of nations.

This will be the first time that G20 meetings will be hosted in Africa.

The G20 Summit in 2025 will be an opportunity for South Africa to take a lead on critical challenges facing the global community.

South Africa’s approach to foreign relations is to seek increased collaboration, to secure greater trade opportunities and increased investment, and to work closely with partners across the globe to entrench peace and democracy.

As we continue to define our place in the world, as we advance the needs of our people, we will continue to mobilise all our moral, political and economic strength on the side of peace and development for all of humanity.

We will continue our efforts to give effect to the call of the Freedom Charter that “There shall be peace and friendship”.

As the week begins tomorrow, the streets of our country will be hubs of activity as visitors from various countries will be our guests.

Let us welcome them and give them the warmth and hospitality that we are known for.

A number of them may choose to stay for a few days beyond the summit to visit the various beautiful parts of our country.

I call on all of us to show them the very best of South African Ubuntu.

I thank you.

ISSUED BY THE PRESIDENCY OF THE REPUBLIC OF SOUTH AFRICA

As the operational arm of the Justice, Crime Prevention and Security Cluster, the National Joint Operational and Intelligence Structure (NATJOINTS) led by the South African Police Service (SAPS), South African National Defence Force (SANDF) and the State Security Agency (SSA), takes this opportunity to assure the nation that it is satisfied with its plans to secure the BRICS Summit which will be held from next week Tuesday, 22nd of August to Thursday, 24th August 2023.