Durban - There are still extensive opportunities for Brics to continue to grow and create sustaining relationships between the countries. This was the focal point of South African ambassador for BRICS, Professor Anil Sooklal, who delivered the keynote address at the 10th BRICS Summit hosted at the Richards Bay Industrial Development Zone (RBIDZ) on Tuesday.
Sooklal further noted that state president, Cyril Ramaphosa's aggressive investment ventures abroad have encouraged trade investment in SA once again.
This year, the 10th BRICS Summit will take place from 25 - 27 July in Johannesburg.
On Tuesday, the round table discussion was hosted ahead of the BRICS Business Council which will take place at the Durban International Convention Centre in Durban on 22 and 23 July.
WATCH: Professor Anil Sooklal, SA ambassador for #BRICS speaking on the importance of the summit pic.twitter.com/xCCG71D5zO
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During the RBIDZ media briefing, it was noted that Richards Bay is considered as the fastest growing secondary city in South African and is set to receive a much-needed boost in the form of foreign direct investment. RIBDS has already signed investments worth R11 billion representing different key sectors of the economy.
Looking on to this year's event - under the theme "BRICS in Africa: a Collaboration for Inclusive Growth and Shared Prosperity in the 4th Industrial Revolution, more 400 delegates from Brazil, Russia, China and India are expected to attend the council meeting aimed at facilitating and strengthening partnerships among business in the BRICS bloc.
SA will be represented by captains of industry, KZN Premier Willies Mchunu, MEC for Economic Development, Tourism and Environmental Affairs Sihle Zikalala.
Recently, the chairman of the SA Chapter of the BRICS Business Council, Dr Iqbal Surve, addressed the KZN Council. In the meeting he pointed out that the BRICS Council meeting to be held in Durban presents an ideal opportunity to meet the requirements set by President Cyril Ramaphosa to attract significant foreign investment to the country and continent.