Magashule applauds success stories of BRICS countries on agrarian revolution

ANC secretary-general Ace Magashule in his closing address at the BRICS political parties plus dialogue applauded the land reform process mainly land expropriation without compensation, as recently passed by the South African government.

According to Magashule, the African National congress (ANC) is committed to tackle inequalities in South African society. “ Some of the magnificent and successful stories of the Brics countries on agrarian revolution is a testimony to the strategic objectives we want to achieve,” Magashule said.

The secretary-general said that the Freedom Charter contains a very important message, one of land redistribution.  The Freedom Charter was the statement of core principles of the South African Congress Alliance, which consisted of the African National Congress (ANC) and its allies – the South African Indian Congress, the South African Congress of Democrats and the Coloured People’s Congress.

The political dialogue closed up deliberations with an adoption of a 25 point plan, titled the Tshwane 2018 Communique on Addressing Inclusive Economic Development Growth, Peace and Stability, Multilateralism and the Fourth Industrial Revolution.

 

Source: The Citizen

African National Congress secretary-general Ace Magashule concluding remarks – BRICS Political dialogue

Political Parties from Brazil, Russia, India and China gathered in South Africa, Pretoria for three days and concluded their meeting on Thursday. On the main agenda, closer cooperation and peace. The political dialogue had in attendance over 200 delegates.

“As the BRICS community of nations, we choose to cooperate with one another rather than to engage in confrontation. We strive for peace and friendship, to maintain world peace and the settlement of all international disputes by negotiations and not by war,” African National Congress secretary-general Ace Magashule concluded at the summit.

“Our understanding of globalisation is that it is a social process, and not a natural phenomenon. Therefore in this process of globalisation we are actors and participants in the shaping, or the reshaping, of a social phenomenon.

We can therefore not be dictated to by one actor in this dominant hostile realities of the world of capitalism. This is where people to people relations become critical as an instrument of nation building and formation.”

“We have said that international agreements arrived at must be honoured because the rule of law is paramount for international stability. The reform of institutions of global governance, from the United Nations Security Council, to the International Monetary Fund and the World Bank, is long overdue and if achieved will galvanise justice and fairness in the way global governance is managed,” said Magashule.

“For us shared global prosperity means that the international system must be geared towards achieving inclusive growth and development. It must be an inclusive process by all of the world nation states.”

“We reject the idea that countries must pursue their self-interests at the cost and to the detriment of our shared prosperity,” he said.

Source:  IOL

 

BRICS Chairpersonship handed to Brazil

South Africa is ready to hand over their position as chair of the annual BRICS summit – Brazil will be taking over as chair for 2019.

The government is hosting a political dialogue, with over 200 delegates in attendance from governing parties in BRICS member countries. The Brics dialogue will explores common approaches to address economic and political challenges, as well as potential threats that confront Brics member states.

Lindiwe Zulu, Chairperson of ANC (African National Congress) international relations subcommittee told the media that the ANC is ready to handover. Zulu was speaking during the BRICS political dialogue held at the Sheraton hotel in Pretoria.

RELATED:ANC hosts governing parties from BRICS member states

South Africa hosted and chaired a successful summit under theme; “BRICS in Africa: Collaboration for Inclusive Growth and Shared Prosperity in the 4th Industrial Revolution.”

RELATED: The 10th BRICS Summit outcomes

 

BY: Kgothatso Nkanyane

 

SA President warns BRICS Governing Parties of nationalism

South Africa’s President Cyril Ramaphosa warned BRICS governing parties gathered at the Sheraton Hotel in Pretoria of the dangers of nationalism. This he did on Tuesday in the opening of the BRICS (Brazil, Russia, India, China and South Africa) political dialogue. Ramaphosa further said that BRICS should work towards multilateralism.

RELATED: ANC hosts governing parties from BRICS member states

“Notwithstanding our individual national interests, our presence here today confirms that we are indeed internationalist in outlook. We must be concerned about and seek actively to reverse the rise of narrow and extreme nationalism which is taking root in some parts of the world,” Ramaphosa said.

“What we ought never to forget regarding this is that when extreme nationalism rises, so does that potential for one country or a small group of countries to arrogate to themselves the right to determine the fate of the entire world.”

 

Source: African News Agency 

BRICS: We recommit ourselves to the full implementation of the Paris Agreement

Argentina played host of the 2018 G20 summit – the meeting concluded on Saturday. Leaders of the fastest growing emerging economies, BRICS met for the first time since the election of Jair Bolsonaro as Brazil’s President on the sidelines of the G20.

The grouping’s leaders released a statement saying that they are recommit themselves to the full implementation of the Paris agreement.

The Paris Agreement is an agreement within the United Nations Framework Convention on Climate Change (UNFCCC), dealing with greenhouse-gas-emissions mitigation, adaptation, and finance, starting in the year 2020.

The statement was a response to Bolsonaro’s threat to quit to withdraw Brazil from the Paris Agreement.

The Brazil newly elected President has also failed to honour the promise to host the crucial UN Climate talks (COP25) in 2019. Bolsonaro abandoned the plans to host two months after the country agreed to host.

 

By: Kgothatso Nkanyane

OPINION|BRICS Threat to Western Supremacy

China’s President Xi Jinping, Indian Prime Minister Narendra Modi, South Africa’s President Cyril Ramaphosa, Brazil’s President Michel Temer and Russia’s President Vladimir Putin pose for a group picture at the BRICS summit meeting in Johannesburg, South Africa, July 26, 2018. REUTERS/Mike Hutchings

The coalition of Brazil, Russia, India, China and South Africa continues to pose a threat to Western Supremacy – Brics has united to reject neoliberal models and created their own institutions. The grouping since 2013 have been signing declarations that are more than just usual petty collaborations and shared goals.

Brics in 2014 agreed to the creation of a development bank – Brics  Bank which was later renamed the New Development Bank (NDB). From its conceptual stages the bank received its fair share of skepticism from Western media.  Articles of the New Development Bank failing to live up to hype and analysis of the NDB in comparison to other development banks are easy to find. The institutionalisation of BRICS was viewed as not “viable and feasible”.

The NDB meant rivalry for West controlled financial institutions, IMF and the World Bank. Brics is empowering emerging economies by offering a wider range of economic choice. The groupings long term goal is to change global governance.

“Brics is gearing up for the future by planning to set up a credit rating firm to compete with western hegemony in the world of finances,” reports IOL.  

 

BY Kgothatso Nkanyane

BRICS Business Council Successes in a book

BRICS Business Council outgoing chairperson, Dr Iqbal Surve launched a book on the successes of the council on Wednesday night. The book according to Dr Iqbal, celebrates the progress of the Business Council since its establishment in 2013.

“Sometimes you forget what Brics means. Let me contextualise. We are here to serve our people, country and continent. I grew up with a social justice welfare framework and trying to see how we could lead and participate in the global economy. And so we serve with pride and pleasure, and do so with no expectations,” he said.

The book contains a five year history of the Council and according to the outgoing chair the reflection and documentation contained in the book  will move readers.

Iqbal thanked everyone who supported him and wished the next chairperson of the Business Council luck.

 

Source: The Star

The BRICS flourishing partnership

Coined by then-chairman of Goldman Sachs Assets, Jim O’Neill in 2001 – BRIC. At its initial formal meeting in 2009 [BRIC] emphasised the improvement of global economic situations and reforming financial institutions. South Africa in 2010 was then formally invited to join the group of the world’s fast growing in emerging economies – the group was renamed BRICS.

The grouping is celebrating a decade of formal meetings and the partnership continues to flourish. Brazil, Russia, India, China, South Africa relations have moved from just economic collaborations. The collation has over the years accumulated achievements that  are not only for the benefit of member countries.

BRICS in 2014 Created a development bank [New Development Bank], raising $50 billion to start it from the ground. The bank has funded development in member countries and is now funding non-member countries and private. The NDB will in the future fund Arts and Culture – South Africa’s Minister of Arts and Culture Mr Nathi Mthethwa hosted BRICS Ministers of culture and it was agreed that the NDB should fund culture and the arts.

According to thesouthafrica.com the grouping achieved also, a decentralised the economic clout of traditional Western powers, ensured trade benefits for South Africa and gave Africa a greater access to the global stage.

 

By: Kgothatso Nkanyane

Key milestones of the New development Bank (NBD)

The BRICS multilateral development bank was founded by members of the coalition [Brazil, Russia, India, China and South Africa],in July 2015.  The bank’s main focus since establishment has been on infrastructure and sustainable development projects in member states, as well as in other emerging and developing countries, to promote growth and seek solutions for sustainable development.

Since establishment the NDB has continued to show growth, despite wide criticism from the media – many publications have prophecies on the failure of the bank. 

 

Year Key milestones
2016
  • The headquarters agreement was signed with the government of the People’s Republic of China
  • The NDB received AAA rating from two Chinese rating agencies
  • The Board of directors approved the project in Russia, to the amount of USD 100 million  
  • NDB issued its first green bond in the Chinese interbank bond market
  • The Board of Directors approved the first batch of loans to projects in Brazil, India, China and South Africa at a combined value of USD 811 million
  • The Board of Directors authorised NDB to raise resources up to an aggregate amount of RMB 10 billion
2017
  • The Board of Governors approved the establishment of the Project Preparation Fund (PPF)
  • The Board of Governors approved the terms, conditions and procedures for the admission of new members
  • The Board of Governors approved NDB’s 2017-2021 General Strategy
  • NDB held a ground breaking ceremony for its permanent headquarters in Shanghai, China
  • NDB opened its first regional office in Johannesburg, South Africa
2018
  • The NDB financed two Brazilian renewable energy projects
  • NDB received AA+ rating from Fitch and S&P global ratings
  • The bank joined forces with FAO in attempt to reach the 2030
  • It opened its doors to all states, including nonmembers  
  • Signed a memorandum of agreement with the development bank of South Africa

 

 

By: Kgothatso Nkanyane

BRICS Tourism Spend Registering a Strong Growth by 2025

BRICS denotes a grouping of five emerging economies of the world that are Brazil, Russia, India, China and South Africa. As these five countries are showing a positive economic outlook and strong potential for growth, they are the obvious choice as being the most sought after and attractive tourist destinations, both inbound and outbound. A rising affluent and middle class in all these five countries, especially China and India holds a great potential for the development of tourism in this bloc of countries.

Sound economic fundamentals and rising economic prosperity of BRICS nations is one of the key driving factors for the development of tourism in this bloc. There is a rise in disposable income in these countries and a new affluent middle class has emerged in these countries that spends greatly on tourism and leisure. Especially, countries such as China and India are leading the world in terms of outbound tourism and are showing promising growth even in the inbound tourism sector. However, external factors such as terrorism may make a dent in the inflow of tourists in this bloc of nations. Also, the tourist infrastructure in countries such as India is still developing and may not be developed as per the desired levels. This may act as a restraint in the development of tourism in BRICS. However, tourism being an important sector of the economy of BRICS, all the concerned governments are encouraging the development of tourist infrastructure and spending on the development of adequate facilities for the international travellers.

BRICS Tourism Spend Analytics: Key Statistics

As per the data provided by the World Travel and Tourism Council, the direct share of travel and tourism to the India’s GDP was INR 2668.3 Bn in the year 2015, which comprised 2.0% of the total GDP of India. This is forecasted to increase by 7.1% in the year 2016 and is projected to rise by 7.9% per annum during the forecast period of 2016-2026 and reach a figure of INR 6115.5 Bn in the year 2026, and will comprise 2.4% of the total GDP.

In the year 2015, visitor exports in India generated INR 1249.3 Bn, which comprised 4.2% of the share of the total exports. This is forecast to grow by 5.3% in the year 2016, and is projected to grow by 7.2% per annum, reaching a figure of INR 2625.6 Bn in the year 2026, which will comprise 3.8% of the total exports of India.

As per the data provided by the World Travel and Tourism Council, travel and tourism contributed BRL 190.5 Bn to the Brazilian GDP in the year 2015 that comprised 3.3% of the entire GDP of Brazil. This is forecast to fall by 0.9% in the year 2016 and is projected to rise by 2.9% per annum during the forecast period of 2016-2026 and reach a figure of BRL 251.8 Bn in the year 2026, and will comprise 3.7% of the total GDP.

In the year 2015, visitor exports in Brazil generated BRL 20.4 Bn, which comprised 2.7% of the share of total exports. This is forecast to grow by 8.2% in 2016, reaching a figure of BRL 47.3 Bn in the year 2026, which will comprise 3.5% of total exports of Brazil.

According to World Travel and Tourism Council data, the share of travel and tourism to Chinese GDP was CNY 1407.9 Bn in the year 2015 that comprised 2.1% of the total GDP of China. This is forecast to rise by 6.1% in the year 2016, and is projected to grow by 7.4% per annum during the forecast period of 2016-2026 and reach a figure of CNY 3064.3 Bn in the year 2026, and will comprise 2.6% of the total GDP.

In the year 2015, visitor exports in China generated CNY 384.6 Bn, which comprised 2.6% of the share of total exports. This is forecast to grow by 2.1% in 2016, reaching a figure of CNY 404.2 Bn in the year 2026, which will comprise 1.9% of total exports of China.

As per the World Travel and Tourism Council data, the share of travel and tourism to Russian GDP was RUB 1106.3 Bn in the year 2015 that comprised 1.5% of total GDP of Russia. This is forecast to rise by 1.5% in the year 2016, and is projected to grow by 3.4% per annum during the forecast period of 2016-2026 and reach a figure of RUB 1574.1 Bn, and will comprise 1.8% of the total GDP.

In the year 2015, visitor exports in Russia generated RUB 826.0 Bn, which comprised 3.5% of the share of total exports. This is forecast to grow by 6.4% in 2016, reaching a figure of RUB 1592.3 Bn in the year 2026, which will comprise 6.1% of total exports of Russia.

According to the data provided by World Travel and Tourism Council, the share of travel and tourism to South African GDP was ZAR 118.6 Bn in the yeah Ar 2015 that comprised 3.0% of the total GDP of South Africa. This is forecast to rise by 3.9% in the year 2016, and is projected to grow by 3.8% per annum during the forecast period of 2016-2026 and reach a figure of ZAR 178.3 Bn, and will comprise 3.4% of the total GDP.

In the year 2015, visitor exports in South Africa generated ZAR 115.0 Bn, which comprised 9.1% of the share of total exports. This is forecast to grow by 5.1% in 2016, reaching a figure of ZAR 211.6 Bn in the year 2026, which will comprise 11.8% of total exports of South Africa.

This comprehensive report equips readers with lucid information and analysis on the sector. Future Market Insights’ experienced travel and tourism analysts bring to you accurate and unbiased information to help you make crucial decisions with confidence.

The report offers a 360° view – bringing to the fore key drivers, restraints, opportunities, and challenges prevailing in the sector. To offer readers actionable insights, detailed information on historical trends, current scenario, and future projections is provided in the report.

The report specifically focuses on the leading companies operating in this sector, highlighting their key developmental strategies. A holistic analysis of the leading players is highlighted to help decision makers understand the overall competitive landscape.

 

 

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