Business tycoon Patrice Motsepe, the inaugural chairman of the BRICS Business Charter in South Africa, stated that reciprocal relationships and advantages were at the heart of BRICS economic development.
The billionaire was addressing at the BRICS Business Forum ahead of the formal commencement of the 15th BRICS Summit on August 23, at the Sandton Convention Centre in Johannesburg.
“South Africa’s chief executives have been trading among BRICS countries. At the start of 2013 when we started the trade in goods and services between South Africa was just under $100 billion, and the objective was to increase this to $400 billion,” said the entrepreneur.
Dr Motsepe emphasised that there has been growth within the BRICS bloc, but he believes that more still needs to be done in the whole continent of Africa.
“There has been a huge amount of progress that has been achieved. It’s just that in the business world, we set very high standards, ambitions and expectations for ourselves and the relationship between the BRICS countries,” he said.
“There was a fundamental commitment and an obligation even though South Africa was the sole country, the focus was on the whole continent. There is a bigger focus for the future.”
He said for South Africa, which has around 60 million people to be a competitive, trading and negotiating partner in terms of doing deals, transactions, policies and engagement, the African continent is a critical part.
Dr Motsepe stated that the BRICS countries have a long term relationship and partnership part of which has to be of mutual benefit.
“We have to position ourselves as a country and a continent that produces goods and also has services which the rest of the world and the BRICS countries want.”