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Minister Davies to Address Brazil, Russia, India, China and South Africa (BRICS) Business Council in Durban

The Minister of Trade and Industry, Dr Rob Davies will address the Brazil, Russia India, China and South Africa (BRICS) Business Council in Durban tomorrow where the council will be hosting its sixth annual meeting. The meeting is part of the build-up to the 10th BRICS Summit that will take place in Johannesburg from 25-27 July 2018. The theme of the Summit is BRICS in Africa: Collaboration for Inclusive Growth and Shared Prosperity in the 4th Industrial Revolution.

The BRICS Business Council was established during the Fifth BRICS Summit held in South Africa from 26-27 March 2013. The key themes of discussion at the 2018 Meeting are Youth Entrepreneurship, 4th Industrial Revolution and Food Security.

The BRICS Business Council is a crucial element of the BRICS block due to the critical role that it plays in promoting and strengthening business, trade and investment ties amongst the business communities of the five BRICS countries. The Council is also mandated to ensure that there is regular dialogue between the business communities of the BRICS nations and the Governments of the BRICS countries,rdquo; says Davies.

He adds that the role of the BRICS Business Council to identify problems and bottlenecks and recommend solutions, as well as to identify intra-BRICS projects for investments and increased exports can never be overemphasised.

Businesspeople from all five countries will be using the gathering to exchange ideas on a variety of pertinent issues related to these include trade promotion (of value-added trade)

Investment, trade in services, development aspects of E-commerce, intellectual property rights, technical regulations and standards, small and medium enterprises, amongst others.

Source: The Department of Trade and Industry