South Africa’s gains from the 10th BRICS multi-national summit

 

South Africa, Johannesburg hosted a successful annual BRICS Summit in July. The multinational gathering has over the years has been clouded with scepticism and negative publicity. The bloc has however been making strides – the 2018 summit has had successful outcomes for the Republic of South Africa. SA cannot perhaps compete with super-economies and other members of the bloc, but has benefited immensely from this year’s summit.

South African President, Cyril Ramaphosa has been campaigning for international investment in an attempt to boost the country’s economy. During the summit week Chinese President, Xi Jinping announced a $14bn investment into South Africa in the next few years.

The summit concluded with agreements that will not benefit only BRICS’ hidden gem, South Africa but all other member states of the bloc.

BRICS endorsed an initiative of enhancing BRICS cooperation in health through the establishment of a BRICS vaccine Centre, which will promote research and development in the medical field. The bloc recognised the potential inherent in the tourism sector and in BRICS countries then endorsed the development of a BRICS Tourism Track within BRICS. The leaders also agreed to woman empowerment –the establishment of a BRICS women’s forum.

BRICS pledged to support African development, industrialisation and infrastructure development as contained in the NEPAD programmes and African Union’s Agenda 2063.

The 2018 agreements are now been discussed and agreed up by BRICS Ministers. The Republic SA is bound benefit in fields of trade, the arts, tourism and more.  

 

By: Kgothatso Nkanyane

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