The first BRICS Business Council meet, which aims to increase trade and investment ties between participating economies begins in South Africa today at the at the Sandton Convention Centre.
The two-day meeting, which was announced by the Department of Trade and Industry (DTI) last Thursday will be attended by the delegates from Brazil, Russia, India, China and South Africa as well as prominent business leaders from 19 other African countries, chairman of the council, Patrice Motsepe said.
The BRICS Business Council was established during the 2013 BRICS Summit in Durban in March, with South African businessman Patrice Motsepe named chairman of the body. BRICS countries each nominated five business leaders to make up the council. The four South Africans who will serve on the body along with Motsepe are Business Unity SA CEO Nomaxabiso Majokweni, Zungu Investment Company executive chairman Sandile Zungu, Sekunjalo Investments CEO Iqbal Surve, and Transnet CEO Brian Molefe.
"The meeting will identify specific measures and initiatives to increase trade, business, manufacturing and investment ties between the BRICS countries and Africa," Motsepe said.
"We will propose measures to eliminate barriers to growing trade and investment ties amongst the BRICS and African countries."
"We will propose measures to eliminate barriers to growing trade and investment ties amongst the BRICS and African countries."
He said it is important for African business leaders and entrepreneurs to establish partnerships and joint ventures between themselves to ensure that they significantly benefit from business opportunities with the BRICS countries.
South African President Jacob Zuma described the establishment of the business council as a key measure to further increase intra-BRICS trade and investment.
President Zuma said the council would serve as a platform to strengthen and promote economic, trade, business and investment ties amongst five countries.
President Zuma, SA Minister of Trade and Industry Rob Davies, and the chairmen of the member countries are expected to address the meeting.
President Zuma said the council would serve as a platform to strengthen and promote economic, trade, business and investment ties amongst five countries.
President Zuma, SA Minister of Trade and Industry Rob Davies, and the chairmen of the member countries are expected to address the meeting.
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