President Zuma returns from a successful 7th BRICS Summit in Russia
The President of the Republic of South Africa, His Excellency Mr Jacob Zuma, has returned to South Africa upbeat and pleased with the outcomes of the VII (Seventh) BRICS Summit in Ufa, in the Russian Federation, where he led the South African delegation.
The Brazil Russia India China South Africa (BRICS) Summit took place under the theme: "BRICS Partnership - A Powerful Factor in Global Development”.
President Zuma said the VIII BRICS Summit succeeded in deepening cooperation amongst BRICS nations and in bolstering the BRICS formation for a greater contribution to global political and economic affairs.
"There is no doubt in our minds that almost seven years after we joined BRICS, the world's geopolitics is changing and the BRICS bloc of countries is having a significant impact particularly on the developing economies. We are pleased with the outcomes of the seventh BRICS Summit," the President said.
Amongst other things, the BRICS Leaders welcomed the entry into force of the Agreement on New Development Bank (NDB) signed during the VI BRICS Summit in Fortaleza. The Leaders said the NDB shall serve as a powerful instrument for financing infrastructure investment and sustainable development projects in the BRICS and other developing countries as well as emerging market economies.
The VII BRICS Summit also noted the conclusion of the ratification process of the Treaty Establishing a Contingent Reserve Arrangement of the BRICS and its entry into force and the signing of the BRICS Inter-Central Bank Agreement.
President Zuma used the occasion of his visit to Ufa to hold bilateral meetings with his BRICS counterparts on the sidelines of the Summit, wherein the scope of South Africa's existing political, economic and socio-cultural ties with these countries was discussed and new areas of cooperation were explored.
President Zuma was accompanied to the Summit by the Ministers of International Relations and Cooperation; Ms Maite Nkoana-Mashabane; Finance, Mr Nhlanhla Nene; Energy, Ms Tina Joematt-Petterson; State Security, Mr David Mahlobo, and Arts and Culture, Mr Nathi Mthethwa as well as business representatives from South Africa.
Enquiries:
Harold Maloka
Cell: 082 847 9799
E-mail: harold@presidency.gov.za or maloka.harold@gmail.com
