On 1st of January 2023, the South Africa assumed role as Chair of BRICS Nations and the President Cyril Ramaphosa will be presiding and hosting over 40 world leaders to the 15th BRICS Summit taking place in Johannesburg from 22-24 August 2023.
The President who took a walkabout through the BRICS Summit precinct in Sandton, Johannesburg on Monday, to receive a full briefing at the venues and assess the state of readiness to host over 40 world leaders attending the Summit starting today.
The 15th Summit under the theme: BRICS and Africa: Partnership for Mutually Accelerated Growth, Sustainable Development and Inclusive Multilateralism had the arrival of the Chinese President, Xi Jinping and his counterpart from Brasil, Lula da Silva who was accompanied by wife.
Speaking on BRICS while addressing the nation on Sunday, Ramaphosa said the members which consists of Brazil, Russia, India, China and South Africa have made up a quarter of the global economy, accounting for a fifth of global trade and are home to more than 40 per cent of the world’s population.
He said that the BRICS as a formation plays an important role in the world due to its economic power, market potential, political influence and development cooperation. “Yet the value of BRICS extends beyond its sheer size.
The President added that the BRICS countries can collectively shape global dynamics, and acting together, have the potential to drive significant changes in the world economy and international relations.
“Together, the BRICS members have used their collective voice to call for a world that is more equitable, balanced and governed by an inclusive system of global governance. Being a BRICS member has created positive opportunities for South Africa.
“It has enabled our country to have a strategic relationship with China. Based on the strategic relationship between South Africa and People’s Republic of China we will be signing several agreements during President Xi’s State visit.
“We have steadily strengthened trade and investment ties with other BRICS countries alongside collaboration in areas like development, skills, technology, security and innovation.
“South Africa has benefited from the New Development Bank, which was established by the BRICS countries in 2015. Our country has been funded by the bank in several infrastructure projects to the value of R100 billion in sectors such as roads, water, transport and energy.
“South Africa has always championed the interests of Africa within BRICS. To further advance the African development agenda, more than 30 Heads of State, Government from across Africa will be attending the summit.
“We want to build a partnership between BRICS and Africa so that our continent can unlock opportunities for increased trade, investment and infrastructure development”, he said.