Shivambu: We rushed to join brics

2011-06-18 16:13
Midrand - The South African government made a mistake by rushing to join Brics, a group of major emerging markets, comprising Brazil, Russia, India and China.

Addressing delegates attending the African National Youth League (ANCYL) congress at Gallagher Estate in Midrand, ANCYL spokesperson, Floyd Shivambu said he believed the South African government made a mistake of rushing to join Brics.

He said South Africa should have started by strengthening trade relations with its fellow African countries first before joining to Brics.

South Africa formally joined Brics this year and government argued the move was crucial because it would raise South Africa influence on the world stage and also bolster political and trade ties within the bloc.

Government has admitted that joining Brics would require South Africa to trade carefully.

The size and competitiveness of Brics meant that South Africa needed to design its approach carefully, national department of trade and industry deputy director general, Carim Xavier speaking during the investment conference in Durban recently.

“For a country like South Africa that confronts its own development challenges, we cannot simply open our markets if doing so leads to destructive competition, de-industrialisation or if it exacerbates already high levels of unemployment,” Xavier said.

Shivambu said the ANCYL would push for the ANC to adopt its proposal for the nationalisation of mines and the expropriation of land.

In a discussion document titled Programme of Action for Economic Freedom in Our Lifetime, the youth league calls for the expropriation of land without compensation, in an effort to speed up land reform.

Read more on:    ancyl  |  floyd shivambu  |  politics

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