BRICS Countries, i.e .Brazil, Russia, India, China and South Africa are recognised as the future growth engines of the world economy, Premier Thandi Modise said on Thursday.
Premier Modise reminded delegates in her opening keynote address to the 2nd Annual North West BRICS Expo and International and Tourism Conference that the economies of BRICS is expected to account for 50% of the global domestic product (GDP) by 2020.
“BRICS countries share 25% of the global GDP, 30% of global land area and 43% of the global population. They share of its world export has grown substantially since the start of the 21st century, from a mere 8% in 2001 to 14 % in 2008 in 2008, and to 17% by 2012,” Premier Modise highlighted.
Deputy Minister of Tourism, Tokozile Xasa in her address said that over the next 20 years, international tourist arrivals in emerging-economy destinations are expected to grow at double the pace (4%) of advanced-economy destinations (projected at 2%). As a result, arrivals in emerging economies will likely surpass those in advanced economies by 2015.
“My message to the BRICS partners is that South Africa is indeed a unique and varied destination which offers tourist experiences that suit every taste and budget. Visitors to South Africa stand in awe of how much this country has to offer, which includes the variety of experiences, the value for money, our world-class tourism infrastructure, and of course our culturally-diverse people,” Deputy Minister Xasa said.
“There is nothing stopping us from using this Expo to take our tourism efforts with the BRICS countries to the next level. It is an opportunity to find common ground, to find areas where all our tourism industries can gain and grow from working together,” she stressed.
Premier Modise said that South Africa’s comparative advantage within BRICS pertains to the country’s considerable non-energy in situ mineral wealth with North West sectors such as metals, chemicals, food ,tobacco and automotive components showing massive potential.
“The North West province presents exciting trade, investment and tourism opportunities because its position in respect of the country and the African market renders it attractive to investors from both national and continental perspectives,” Modise asserted.
The Premier said that in addition to the 38 754 jobs that were created as at 31 December 2013 in the province through tourism, agro processing, manufacturing, green economy, retail, service and the social economy sectors, the good story to tell is that the province offers easily available skills and distribution channels imperative for commercial ventures into Africa and is well located to be used as a shared services hub for the companies’ African operations, especially for Sub-Saharan countries.
“This conference is an opportunity once more to proclaim that the province is open for business and economic development. Those who grab it will certainly realise the rewards in the future,” she added.
In outlining the purpose of the Expo and Conference, MEC for Economic Development, Conservation and Tourism, Motlalepula Rosho said that the Expo gives her department to tell a good economic story, a good tourism story ,a good environmental story and a good trade and investment story, not only through international exposure but also through helping SMMEs and cooperatives with finance, grants and other supportive mechanism in order to create jobs and grow the economy.
The four day conference which ends on Saturday has attracted international, national and local businesses across all the sectors including small, medium and micro enterprises, national and provincial government departments, investment promotion agencies, tourism agencies, companies in transportation, financial institutions, academia and the media.
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