President Jacob Zuma described as “historic moment” the first participation of South Africa as the bona fide member of the BRICS nations.
The president has arrived in Sanya, Hainan Island in China to attend the 3rd BRICS Leaders Summit, which South Africa is attending for the first time as a member.
“We look forward to using this relationship to further advance our agenda of creating jobs, as announced in the State of the Nation Address in February. The mechanism will also contribute immensely in the advancement of other priorities domestically and internationally, especially in the peace and security and development arenas’’, said President Zuma on arrival in Sanya.
South Africa joined the BRICS bloc of emerging economies in December 2010, which is in line with the country’s foreign policy to strengthen relations among developing countries. Discussions will centre on strengthening economic and trade cooperation amongst BRICS members.
The changing global environment has seen a greater political and economic role for the BRICS and other emerging powers. By 2020, the BRICS countries are expected to contribute nearly half of all global GDP growth.
South Africa anticipates economic and political benefits from the membership of BRICS, for both the country and the continent.
South Africa enjoys good historical, political and economic relations with the BRIC countries.