South Africa has handed over the leadership of the BRICS Business Council to Brazil following 12 successful months at the helm of the group of the world’s leading emerging economies, the diplomacy has said.
Speaking at the conclusion of a two-day mid-term council meeting in Johannesburg on Thursday, International Relations and Cooperation Minister Lindiwe Sisulu said South Africa welcomed the assurance from Brazil that it was committed to BRICS.
BRICS are Brazil, Russia, India, China and South Africa. Sisulu assured the council of the country’s support.
“South Africa will chair the African Union in 2020 to usher in the Africa Continental Free Trade Area. A vibrant and energetic Council is a very necessary partner for this,” Sisulu said.
She revealed that on Wednesday South Africa became the 22nd country to sign the African Continental Free Trade Area, meeting the minimum threshold for the agreement to come into effect.
“It bodes well for Africa, for South Africa and for the Business Council as it opens up Africa for new business opportunities,” she said.
Sisulu said she was encouraged by the “exuberance” of the meeting. “We need you here for the long haul. The BRICS Family is a very important one to us and we’d like you make sure that you give the necessary underpinnings of this very important association,” she said.
Businessperson Busi Mabuza, who chaired the council for the past 12 months, said the South African council was confident Brazil would take the council to greater heights.
NM/jn/APA