CAPE TOWN – President Jacob Zuma will be returned to South Africa today after attending the 9th Brics summit in Xiamen, China.
Brics (Brazil, Russia, India, China and South Africa) leaders met with the Brics Business Council where efforts and contributions of council and Business Forum were made to strengthen economic cooperation in various field such as energy, manufacturing, infrastructure, financial service and e-commerce.
President Zuma said that this year was the year with the biggest delegation, an indication of the amount of interest that Brics aroused.
Their commitment to Brics industrial cooperation was maintained on industrial policies and capacities, new industrial standards and infrastructure along with SMMEs (small, micro and medium sized businesses).
Brics leaders agreed to endorse the the development of the Brics local currency Bonds Markets and together create the Brics Local Currency Fund as a way to contribute to the capital sustainability to finance Brics countries.
The launch of the Africa Regional Centre of the National Development Bank in Johannesburg this past year was commended as a large milestone for Africa because it highlights the commitment Brics has made to African development and emerging markets.
President Zuma also had bilateral talks with Brics leaders like the President of Russia Vladimir Putin and H.E President Xi Jinping of the People’s Republic of China. He also met with the President of the Arab Republic of Egypt Mr Abdel Fattah el-Sisi and President Emomali Rahmon of Tajikistan.
The President of Tajikistan had invited President Zuma for a state visit to promote the strengthening mutual economic relations between South Africa and Tajikistan.
President Zuma said that being a part of Brics makes South Africa representatives of Africa and therefore have introduced the Brics Outreach part of the programme where the African Union Commission Chairperson, Leaders of NEPAD structures and regions have been invited to engage for the well-being and development of Africa.
South Africa will be hosting the the Brics summit next year. President Zuma is looking forward to hosting the Brics summit saying that he hopes to build on organisation, discipline, clear programmes and outcomes from this years summit.