In recent years, the BRICS has evolved into a powerful grouping of the
world’s leading emerging economies. In 2011 the BRICS’s share of global gross domestic product (GDP) based on purchasing power parity amounted to about 25%; they occupy 30% of the global territory; and they are home to 45% of the world’s population. The contribution of the BRICS countries to global economic growth over the last decade has reached 50%, which makes this group of states the leading power in global economic development. Some
analysts predict that BRICS could become as big as the G7 by 2027. Source:
www.gcis.gov.za
Cooperation pays
dividends The government has stated that South Africa’s membership in BRICS benefits cooperation among member countries. It also believes that our membership of BRICS has yielded results with us achieving a fourfold increase in exports to fellow members in the BRICS group, while imports from them have doubled. Furthermore, the government has said that South Africa will benefit from the concrete projects of BRICS in areas such as agriculture, science, statistics, development finance institutions, security and justice. Source:
http://bit.ly/IE8qGA
45 SA companies visit Brasil
The Investment and Trade Initiative (ITI) took place last month in Brazil, with Deputy Trade and Industry Minister Thandi Tobias-Pokolo leading 45 South African companies to the five-day event. This is the third ITI to Brazil organised by the DTI and its focus will be on South Africa’s World Cup Legacy. “ITIs create an excellent platform to showcase South Africa’s manufacturing and export capabilities as well as investment prospects in the markets in which the ITIs are held, which are targeted high growth markets. This ITI will increase exports through the profiling of South Africa’s competencies and expertise for the hosting of the 2010 FIFA World Cup held in South Africa,” Tobias-Pokolo said.
The companies participating in the initiative are from
the built environment, construction, aerospace, rail and marine, manufacturing, agro-processing, services and electro technical sectors. The ITI will span three host cities of the 2014 FIFA World Cup in Brazil namely, Sao Paulo, Curitiba and Porto Alegre, with the initiative envisaged to afford emerging exporters an opportunity to learn about the export process and related logistics. “The ITI will also explore potential that may exist in having South African companies
partner with Brazilian companies in tendering for projects to realise the 2014 FIFA Soccer World Cup,” the deputy minister said. The initiative is also expected to help emerging exporters gain insight into the Brazilian market. The ITI programme will include trade and investment seminars as well as site visits among others. Source: BUA news
http://bit.ly/I9Sp5j
Left: President Jacob Zuma and his delegation at the Plenary session and signing of Agreements ceremony
May 2012 | Management Today 19
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