South Africa seeks to balance trade balance at Brics Summit

The South African government will work to resolve the trade imbalance and will also deal with complementary exchanges between him and his partners Brics at the next crucial summit next week, officials said Thursday.

Lerato Mataboge Deputy Director General at the Ministry of Commerce and Industry (DTI), said that China was the main destination of South African exports, followed by India, the Brazil and Russia. , with China as the main source of imports in South Africa.

million. Mataboge said South Africa's main exports to China are iron ores, ferrochrome ore and manganese, while imports include mobile phones, laptops, machinery and footwear. . "One of South Africa's concerns for this summit is to find a balance in the export basket, as the country still exports a lot of primary products to the bricks-and-mortar countries by importing valuable products. added, "said Mataboge.

"During the South African Chairmanship of Brics, the country will advance trade areas such as trade, intellectual property rights, trade in services, investment cooperation, support for multilateral trading systems , etc. billion in 2017, a slight increase from R425 billion the previous year, but also a significant increase of R203 billion in 2010. "

Mataboge, as well as officials of the Department of International Relations, the Provincial Economic Development, and Brand South Africa on Thursday informed the media of the country's readiness to host the Tenth Brics Leaders Summit in Johannesburg from July 25 to 27, after the country took over the rotating chair in January. South Africa became a member of Brics in 2011.

The Brics Summit is convened annually with discussions representing spheres of political and socio-economic coordination in which Brazil, Russia, China, the United States India and South Africa have identified several business opportunities. areas of cooperation.

Ambassador Professor Anil Sooklal Counselor of South Africa at Brics Summit, said: "We hope that the Summit will bring more collaboration among member states and will focus on inclusive development and peace. "

The presidency has already confirmed that President Cyril Ramaphosa will welcome President of China Xi Jinping next week on Tuesday and that they will both attend the Brics Summit. .