DTI urges co-ops to take advantage of Brics

2011-07-02 10:36

Co-operatives must take advantage of Brics agreement which will open doors for South Africans to do business on a global scale, the Department of trade and industry (DTI) said today.

“After Brics signed a Memorandum of understanding (MOU) to promote co-operative development amongst Brics countries, the onus is now on us South Africans to ensure that we reap the benefits of this,” deputy minister Elizabeth Thabethe said in a statement.

“This we can do by identifying opportunities for co-operation with our Brics partners to ensure that we capitalise on this massive opportunity.”

Thabethe spoke at a dinner hosted by in partnership with the Eastern Cape department of economic development, the National Youth Development Agency, and the South African National Apex Co-operative in East London last night.

One of the commitments made in the MOU was the facilitation of bilateral and multilateral co-operation among co-operatives in Brics, a group of major emerging markets, comprising Brazil, Russia, India and China.

The countries also pledged to boost trade and investment co-operation between co-operatives in Brics countries through exhibitions, trade fairs and delegation visits, Thabethe said.

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