How the Brics coalition benefits SA

Trade and Industry Minister Rob Davies says the Brics member nations have the potential to challenge established and dominate economies from across the world.

More than 1 000 delegates from Brazil, Russia, India, China and South Africa (BRICS) gathered in Johannesburg last week as part of the 10th Brics Summit.

LISTEN: Was the 10th Brics summit a success?

He explains that Brics matters as an important grouping of emerging economies with great investment potential.

According to Davies, Brics nations have not yet realised their full power.

Read: Understanding the nuts and bolts of Brics

Meanwhile, South Africa has signed a cluster of trade agreements with China worth billions of rands.

The agreements are linked to various sectors, including the simplification of visas, deals at Eskom and Transnet, and with private sector companies such as Standard Bank and Naspers.

China is South Africa’s biggest trade partner globally, Davies explains.

He discusses what the deals with China and infrastructure projects entail, while exploring the negative effects of the global trade war.

He also details the role of his department in growing the economy.

The strategic importance of Brics lies in the fact that it is about 40% of the world's population and about 23% of the world's GDP.

Rob Davies, Minister of Trade and Industry

I don't think we [Brics] are there yet. Much of the potential is still to be realised.

Rob Davies, Minister of Trade and Industry

We are on a drive to increase investment. China is our number one trading partner.

Rob Davies, Minister of Trade and Industry

Industrialisation is our main focus as a department.

Rob Davies, Minister of Trade and Industry

Industrial policy works. It has had postive effects in the motor sector, in clothing and textiles, agro-processing and pharmaceuticals and chemicals.

Rob Davies, Minister of Trade and Industry

We need multilateralism for developing countries to have a voice in the global trading system.

Rob Davies, Minister of Trade and Industry

Take a listen to the in-depth conversation with Minister Davies:


Recommended

by NEWSROOM AI

CapeTalk welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the CapeTalk community a safe and welcoming space for all.

CapeTalk reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

CapeTalk is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
Nuclear 'not a priority for SA'  - Ramaphosa

Nuclear 'not a priority for SA' - Ramaphosa

Spokesperson to President Cyril Ramaphosa at The Presidency Khusela Diko speaks about the Brics Summit and bilateral meetings.

[LISTEN] Was the 10th BRICS summit a success?

[LISTEN] Was the 10th BRICS summit a success?

Political analyst Sanusha Naidu looks at the success of the 10th BRICS summit as it comes to an end.

#BRICS: Ramaphosa meets with Putin and other leaders in bilateral meetings

#BRICS: Ramaphosa meets with Putin and other leaders in bilateral meetings

This Ramaphosa's first meeting with Putin since he was elected SA president.

#Brics - Big investment in SA from India 'not likely'

#Brics - Big investment in SA from India 'not likely'

On Tuesday, China President Xi Jiping pledged 14.7 billion U.S. dollars to South Africa.

[LISTEN]  BLSA speaks on BRICS and the agreements signed by China and SA

[LISTEN] BLSA speaks on BRICS and the agreements signed by China and SA

President Cyril Ramaphosa opened the BRICS Summit on Wednesday calling for an increase in trade between the five nations.

5 things we all must realise about the money SA is ‘getting’ from Brics

5 things we all must realise about the money SA is ‘getting’ from Brics

The Money Show’s Bruce Whitfield interviews Marius Oosthuizen of the Gordon Institute of Business Science.

Popular articles
'The Suzuki Dzire is the perfect day-to-day runaround car' - Jacob Moshokoa

'The Suzuki Dzire is the perfect day-to-day runaround car' - Jacob Moshokoa

In the car feature, automotive journalist Jacob Moshokoa chats about his experience driving around with the Suzuki Dzire.

[LISTEN] Codeine addiction and abuse

[LISTEN] Codeine addiction and abuse

Member of the SASOP, Dr Eugene Allers chats about the causes behind addiction to over the counter medication.

Signs your jealousy may be getting unhealthy

Signs your jealousy may be getting unhealthy

Managing jealousy has become increasingly important, particularly with the evolving structure of modern relationships says Dr Eve.

Survivor winner Tom Swartz vows to buy his wife 'new boobies and a family house'

Survivor winner Tom Swartz vows to buy his wife 'new boobies and a family house'

Swartz says he would have done anything to get the R1 million prize money.

'There is no way Magnus Malan could've done the things he is accused of'

'There is no way Magnus Malan could've done the things he is accused of'

Former police minister Adriaan Vlok has rejected accusations that former minister Malan was at the centre of a paedophile ring.