BRICS Summit creates stronger ties

Kazan, Russia: The BRICS Engagement and BRICS Plus platforms are an opportunity for countries to forge greater and deeper ties for development. 

This is according to President Cyril Ramaphosa, who delivered South Africa’s country statement during the BRICS/Plus Countries First Session in Kazan, Russia.

The leaders of Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran and the United Arab Emirates met for the first time since new members were invited to join BRICS during the Johannesburg BRICS Summit of 23 August 2023.

Together, the powerful bloc holds around 35% of the global Gross Domestic Product and 20% of world exports.
The BRICS Summit, held from 22 - 24 October, was a platform for the bloc's leaders to reflect on the status of mutually beneficial BRICS cooperation, regional and global economic and political developments, as well as global governance reform.

“The BRICS Outreach and BRICS Plus engagements are important platforms for developing strong ties among countries from the greater Global South and emerging markets.

“We should use these platforms to foster meaningful engagement. We should use the BRICS platform to contribute to social, economic and cultural development of our peoples,” President Ramaphosa said. 

He welcomed initiatives by Russia aimed at developing other BRICS nations. 

“This will help us find ways to integrate and deepen our interconnectedness in new and imaginative ways,” he said. 

The President noted that work has already begun in this regard through the International North-South Transport Corridor -- a multimodal transportation corridor established from St Petersburg in Russia to Mumbai, India.

“This corridor is an opportunity for this region to unlock new trade flows and trade routes in an increasingly multipolar world.
“On the African continent, the African Continental Free Trade Area will unlock opportunities for trade and investment for local and global businesses. It will create a number of opportunities that will lead to an integrated and connected continent,” President Ramaphosa said. 

Russia and South Africa trade relation

Meanwhile, Russian President Vladimir Putin said there are “promising spheres of cooperation” for Russia and South Africa to expand their trade relations.

“Trade and economic ties between Russia and the Republic of South Africa are generally positive. Following a brief dip, mutual trade volumes have started to increase, rising by 3% in January - August 2024.

“Of course, we need to work jointly on some aspects in order to expand and diversify mutual trade and investment. Promising spheres of cooperation include energy, industry, agriculture, science and innovation,” President Putin said.

He hailed the bilateral relations between South Africa and Russia as those based on “mutual respect.” President Putin concluded.