SA, Africa benefiting from Brics - Zuma

2015-07-09 21:23
(Nelson Almeida, AFP)

(Nelson Almeida, AFP)

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Johannesburg - South Africa and the African continent have benefited from economic co-operation with Brics partners, President Jacob Zuma said on Thursday.

He said there had been a 70% increase in South Africa’s total trade with Brics.

Last year South Africa's total trade with Brics was R382bn, which had grown from R268bn in 2011, Zuma said in a speech prepared for delivery during the plenary session at the 7th Brics summit in Ufa, Russia.

Additionally, Africa had doubled its total trade with Brics since 2007 to $340bn in 2012.

It was projected to reach $500bn this year, Zuma said.

"As Brics partners, we should strive to enhance our co-ordination and coherence on these issues.

"The overarching triple challenges of poverty, inequality and unemployment continue to inhibit global development. If we, as member states of the United Nations do not deal comprehensively with the scourge of poverty, underdevelopment and diseases, the poor of the world will consider that the UN has failed them," he said.

The UN was celebrating its 70th anniversary this year.

Zuma said South Africa, in its capacity as the chair of the Group of 77, the intergovernmental organisation of developing countries in the UN, and China would be working together with all UN member states towards a global development agenda.

"For the Brics members, the adoption of an ambitious global development agenda will most certainly also provide us with new opportunities for cooperation in ensuring the implementation of the agreed global development goals," he said.

During the outreach session of the summit, under the theme "Ways to increase the well-being of the peoples of our countries”, Zuma said the balance of power had progressively shifted towards the Brics regions.

“Our economies are also involved in developing cooperation in high-technology sectors of the economy, modernising various branches of industry, implementing projects aimed at developing transport logistics, information communications and infrastructure, raising the economic competitiveness and improving the living standards of citizens in our member countries,” said Zuma.

The session was attended by leaders of the Shanghai Co-operation Organisation, the Eurasian Economic Union and other invited leaders.
Read more on:    brics  |  jacob zuma  |  russia  |  economy  |  government spending

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