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SA to lobby BRICS countries to invest in Africa

The forum will include government leaders, captains of industry, as well as, heads of state-owned entities.

FILE: Department of Trade and Industry Minister Rob Davies. Picture: GCIS

JOHANNESBURG - Over 1,000 business leaders from Brazil, Russia, India, China and South Africa are expected to gather on Wednesday morning for the BRICS business forum aimed at strengthening trade between members of the bloc.

The forum will include government leaders, captains of industry, as well as heads of state-owned entities.

While in the past, decisions around business in Brics forums focused on trade within the five countries alone, South Africa wants to attract the other BRICS nations to invest in Africa.

Government’s aim is to attract foreign direct investment not only into South Africa but the rest of the continent too.

Minister of Trade and Industry Rob Davies is expected to deliver the opening address at the BRICS business forum. And he will be joined by his counterparts from the other four BRICS countries.

There’s expected to be a discussion on what role BRICS plays in facilitating trade and investment at a time when the global political economy is changing.

(Edited by Thapelo Lekabe)

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