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According to South African Brics Ambbadador Anil Sooklal, the 10th Brics Summit, to be held in Johannesburg this week, will not be a simple speech.
The summit is expected to be a turning point in the targeted development sector Sooklal told the media at a round table, that he was confident that the summit would bring much needed hope to member economies and beyond- of the.
He stated that the summit has proven to be a very useful platform for the bloc and, since its inception, more than 70% of its resolutions have been implemented, proving that it is more than a discussion workshop.
BRICS members (Brazil, Russia, India, China and South Africa) implement 70% of summit decisions, and there is a high level of engagement for increased and in-depth interactions between Member States .
Sooklal said the credit rating agency Brics was not yet finalized, but that milestones had been reached.
Sooklal also said the summit, to be held from Wednesday to Friday, will produce the Johannesburg declaration. "The statement will generally include the results of the meetings on politics, security, finance and the economy, social and development as well as interpersonal relations.He joined the Brics in 2011. Following the creation of the Brics Bank, he received two loans from the bank.
The first loan was for Eskom, granted in 2013 for a little over R2 billion.
The second loan, granted last May for an amount of 2, 7 billion rand, was to finance the project to rebuild the docking station at the Durban container terminal.
The current chairman of the bank's board of governors, which is his highest decision-making structure, is the minister. South African Finance, Nhlanhla Nene.
The bloc established the Contingent Reserve Agreement (CRA) summit in 2015, as a framework of protection against global liquidity pressures. ARC, Africa South provided $ 5 billion, China 40 billion and India, Brazil and Russia 18 billion each.
The Brics Council, chaired by Iqbal Survé, consists of nine multisectoral working groups The working groups are: infrastructure, manufacturing, financial services, energy and green economy, skills development, agribusiness, digital economy and sustainable development. deregulation.
This week, the Brics Business Forum will begin at the Sandton Convention Center
Among the dignitaries expected at the summit are state leaders from Angola, Ethiopia, Zambia, India 39, Egypt, Uganda, Rwanda and Gabon. Among the summit's objectives: to facilitate dialogue on the Fourth Industrial Revolution, provide a platform to present affordable financing mechanisms with the National Development Bank, the African Development Bank and the Southern African Development Bank for Industrial and infrastructural development in Africa, and the volume of intra-Bric value-added trade has increased
The summit will also look at the increase in value-added exports and the knowledge of trade opportunities. and investment on the African continent
. in 2011, the Brics Block invested $ 17.8 billion in the country through 189 projects and created 36,852 jobs since 2003. However, more than half of 56% of the capital investment was in Gauteng only , and China was the largest contributor in this province. China has a significant investment footprint across the country, except in the free state.
Gauteng also proved to be the main investment destination for member economies of Brics since 40% of direct foreign investment projects and 31%
KwaZulu-Natal was the destination investment of choice for India. She also benefited the most from the job creation arising from Indian investments.
SUMMIT
2018
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