SINCE its formation in March 2013 the Brics Business Council has proved an effective platform for strengthening and promoting economic, trade, business and investment ties among the business communities of the five Brics member states (Brazil, Russia, India, China and SA), and with the broader African region. The formation of Brics is historic, as it shows how the developing world has organised itself and changed the international dialogue to encompass and showcase the challenges and opportunities of the developing world.

Our overarching goal is to bring tangible projects to fruition more quickly, including developing and implementing those being identified in the Brics roadmap for trade, economic and investment co-operation until 2020, and to strengthen the interface between the governments and private sectors of the Brics economies.

The regular dialogue between business and government that is enabled by the Brics Business Council and its various working groups has brought to the fore the key challenges business feels are impediments to greater co-operation. The initiative has successfully created the space to allow business to make recommendations to government on how to address them.

It must however be recognised that the council needs to ensure that we continually address our critics and demonstrate through the showcasing of concrete initiatives that the council and broader Brics initiative is successful, and is making a significant contribution to growth and development in our respective countries. The ongoing challenges in the global economy and a spate of negative publicity on the prospects of the Brics nations, requires us to accelerate our efforts to strengthen trade and investment ties not only among ourselves but also with our neighbours.

SA’s National Development Plan is an example of how governments can direct economic growth and development in a co-ordinated manner. Our government is setting up a one stop service to facilitate and encourage investment. SA also introduced a Brics business visa over a year ago, which allows for multiple entries for up to 10 years. We hope that our action in this respect will prompt our partners to follow suit.

We congratulate Russia on initiating the St Petersburg International Economic Forum, as it is another way of facilitating dialogue and communicating the successes and challenges of the Brics Business Council. We are engaging Ambassador Petrov in South Africa to facilitate and encourage increased South African participation in the event.

As the South African Chapter, we have engaged the World Economic Forum (WEF) regarding the African regional meeting to be held in Rwanda from the 11th to the 13th of May this year, to have a side event to showcase the South African Brics Business Council. We would encourage the other councils to engage the other regional WEF meetings to do the same. We would like to extend an invitation to the heads of the other Brics Business Councils to attend the meeting in Rwanda and engage African business.

Other key business events such as the G20 business council, and the International Chamber of Commerce’s World Chambers Federation meetings are examples of where the Brics Business Council should be having targeted interventions and events to communicate and showcase the positive contributions and progress we are making. The South African Council is developing a communications strategy and we would encourage the other councils to do the same with central co-ordination role from the secretariat, to align and leverage messages and initiatives.

A critical step forward has been the development of the Brics Bank and the Business Council needs to have a continual dialogue with the Bank. South Africa would like to propose that we invite the bank to our meetings and include the president of the Brics Bank as an ex officio member of the Council.

There is no doubt that the Brics Business Council is an essential and unique platform that is able to significantly and meaningfully increase the trade, business, investment and manufacturing ties amongst the Brics countries and between the Brics countries and Africa. I would like to thank Mr Sergey Katyrin and the entire Russian team for their tireless effort during the period of Russia’s leadership.

I would also take this opportunity to wish India and Mr Onkar Kanwar everything of the best as India takes the Presidency of the Brics Business Council. You are assured of South Africa’s full support.

Brian Molefe, chairman of SA’s Brics Business Council. These were his opening remarks at its mid-term meeting in Moscow

Source: Business Day