8 July 2014
President Jacob Zuma will lead a high-level South African delegation to the sixth Brics summit taking place in Fortaleza and Brasilia, Brazil from 14 to 16 July.
The sixth meeting of the Brics (Brazil, Russia, India, China and South Africa) grouping will take place under the theme “Brics – inclusive growth: sustainable solutions”.
Speaking to the media in Pretoria on Tuesday, International Relations and Cooperation Minister Maite Nkoana-Mashabane said the leaders of the five countries would also discuss issues of global governance, global peace and security, the Brics Contingent Reserve Arrangement (CRA), and progress towards the establishment of the Brics-led New Development Bank (NDB).
“The issue of the venue or domicile for the Brics-led Development Bank is on the agenda,” Nkoana-Mashabane said, adding that the countries’ finance ministers would meet before the summit to finalise the recommendations for the leaders.
At the fifth Brics summit in Durban last year, the leaders instructed the ministers to work on technical details around the setting up of the bank, which will spearhead infrastructure development in Brics member states and other developing nations.
During South Africa’s tenure as Brics chairperson, substantive progress was made in anchoring the new Brics mechanisms – including the Brics Business Council and the Brics Think Tanks Council – that were launched in Durban.
Reports on the work undertaken by these structures will be submitted to the sixth Brics summit.
Nkoana-Mashabane paid tribute to the achievements of the Brics grouping in regional and international affairs. She said Brics was not only about the economy, but also about partnerships and collaborations – and not only for South Africa but for the region and the continent as well.
“Since its first summit in 2009, Brics has consolidated its position as a positive force for the democratisation of international relations and for the enhancement of existing institutions of international governance.”
The minister added that, since South Africa joined Brics, several partnerships had been forged across national, provincial and local spheres of government, ranging from knowledge exchanges to investment opportunities, and on issues relating to global governance and its reform.