China holds the key to unlocking Brics potential - Dr Iqbal Surve

Picture: Supplied.

Picture: Supplied.

Published Sep 6, 2017


CHINA - Xinhua Net reports that the Chairman of South Africa Brics Business Council, Iqbal Surve said that China is a fundamentally important anchor of Brics and is crucial to its future development. 

This comes after the 9th Brics Summit was held in Xiamen, China from 3-5 September 2017. 

The Brics Summit is an annual gathering attended by key investors, business leaders and government officials from the five emerging economies, namely: Brazil, Russia, India, China and South Africa. 

"Stronger partnership for a brighter future" was the theme of this year's summit. 

This mantra personifies the formation of Brics, which is to ensure sustainable development through coherent partnership. 

"All the ingredients are there for us to be successful", said Dr Surve on 3 September 2017 when the leaders of the respective Brics member countries gathered for the bloc's 9th summit. 

Dr Surve declared this whilst acknowledging the current depressed economic situation in particular member countries. 

This notion is further built on with Surve's following observation: 

"Certainly China is leading the way", declared Surve after he noted that throughout his 15 visits to China, the country continues to develop. 

During the Xiamen Summit, China held the Dialogue of Emerging Market and Developing Countries where leaders from Guinea, Mexico, Egypt, Thailand and Tajikistan joined Brics leaders to discuss global measures for South-South cooperation. 

READ ALSO: China pledges R1 billion for co-operation plans in Brics bloc

The forces of Brics collaboration is synonymous with the speed at which outcomes have been achieved. 

The South African businessman, Dr Surve, applauded the outcomes at Brics.

"I'm actually astounded by the speed at which we've been able to achieve these outcomes. I think it's unprecedented". 

Dr Surve further made reference to the Brics New Development Bank (NDB) which was opened in Shanghai in 2015 and approved loans worth $1.55 billion (R20 billion). 

Notably, South Africa is home to the Brics African Regional Centre (ARC) which functions as an establishment committed to sustainable development. 

The African leg of the Brics centre will adopt a key focus on digitisation. 

"Investment has to take place in digitisation. It has to take place in technology and we can no longer think that investing in infrastructure is sufficient, pronounced Dr Surve. 

Dr Surve further noted the important role that Brics played in preventing countries from going back to protectionist policies.

"Brics is really going to shock people in terms of what it is able to achieve", said Dr Surve proudly. 

READ ALSO: GALLERY: Everything you need to know about the Brics 2017 summit so far


Related Topics: