26 - 27 March 2013
South Africa hosted the fifth BRICS Summit from 26 to 27 March 2013 at the Durban International Convention Centre (ICC). This completed the first cycle of BRICS summits.
These summits are convened to seek common ground on areas of importance for these major economies. Talks represent spheres of political and entrepreneurial coordination, in which member countries have identified several business opportunities, economic complementarities and areas of cooperation.
BRICS is an acronym for the powerful grouping of the world's leading emerging economies, namely Brazil, Russia, India, China and South Africa. The first BRIC Summit took place in Yekateringburg, Russia, where the elected leaders of the four countries formally declared the membership of the BRIC economic bloc. South Africa joined the bloc in 2010, resulting in BRICS.
Being part of this bloc is in line with South Africa’s foreign policy objective of strengthening South-South relations. The present context of international relations and cooperation between Asian, African and Latin American countries – collectively known as countries of the South – remains critical, and has become more important than ever before. South Africa’s membership is premised on its global and regional/continental role as well as its domestic achievements. South Africa joined BRICS with three objectives in mind, namely to:
- advance its national interests as outlined in the President’s State of the Nation Address
- promote its regional integration programme and related continental infrastructure programmes
- partner with key players of the South on issues related to global governance and its reform.
South Africa’s membership of this body has expanded BRICS’ geographic and intercontinental reach, including its global representivity and inclusiveness. There can be little doubt that South Africa will benefit and will continue to benefit from being a member of BRICS.
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