The first Brics Business Forum will be launched tomorrow at the Le Meridien Hotel in New Delhi, India. The event will be addressed by the Trade Ministers and Business organisations from the Brazil Russia India China South Africa (BRICS) countries.
South Africa's Minister of Trade and Industry, Dr Rob Davies says the Business Forum will amongst other discuss the following:
- Enhancing financial connectivity for increasing trade and investment
- Cooperation among BRICS countries for energy security with focus on green and renewable energy
- The role of Information Communication Technology (ICT) and innovation in improving business among BRICS member countries
- Importance of cooperation in life science to BRICS growth potential
- Role of BRICS countries in ensuring global food security
'We are of the view that there is a need to improve banking services among the BRICS countries to help improve trade and business. Also there is huge space for the BRICS countries to cooperate in promoting the diversification of energy structure, enhancing the stability of resource supply, and developing energy-saving technologies. Lastly, technological innovation plays an important role in the economic growth. Delegates at the business forum will need to come up with a way of how they could enhance cooperation in technological innovation to accelerate growth' said Davies.
The Minister also said that ICT is the backbone for development of business and the economy. Therefore cooperation and sharing of the strengths in the ICT sector among the Group would open new doors of development and opportunities for member
Later during the day, Minister Davies will attend a meeting of BRICS Ministers of Trade where discussions held will assess recent global economic developments and their trade and investment impact. The Doha negotiations of the World Trade Organisation (WTO) will also come under review. In this regard concern is around the increasing tendency amongst the developed countries to resort to new plulateralism.
The events will take place on the sidelines of the fourth BRICS Summit Heads of States.
Enquiries:
Sidwell Medupe - Departmental Spokesperson
Tel: 012 394 1650
Cell: 079 492 1774
E-mail: MSMedupe@thedti.gov.za
