During the State of the Nation Address held at Parliament on Thursday 8 February 2017, President Jacob Zuma said that the country will increase its export of agricultural products with BRICS partners over the next few years.
He said the decision follows the agreements reached with the BRICS nations.
“We will implement agreements on the export of pulses, mangos and pork to India. We will also export twenty thousand tons of beef to China per year for a period of 10 years,” said Zuma.
He added that the country would continue to pursue the reform of the international system as the current system undermines the ability of developing countries to contribute and benefit meaningfully.
“Our cooperative partnerships with other regions are bearing fruits. The BRICS New Development Bank has recorded encouraging progress,” he said.
Zuma also welcomed the decision to establish the BRICS Credit Rating Agency taken at the 8th BRICS Summit held in Goa, India in October last year. He said the BRICS Credit Rating Agency would ensure that countries can
assist each other in assessing their own economic paths instead of depending on rating agencies outside of the BRICS block. Earlier this week, Quartz India reported that BRICS nations were forging ahead with the agency as they have started engaging with financial experts about the agency’s model and methodology.
Meanwhile China has revealed that it plans to reform the agricultural sector to improve the lives of people in rural areas by 2020. Shangai Daily reported that the country plans to improve structures in the agricultural sector, promote green production and encourages innovation amongst others.
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