1st BRICS Business Council meet next week

Global Governance Archive

“The newly formed BRICS Business Council will hold their first meet in Johannesburg on 19th-20th August, South Africa’s Department of Trade and Industry (DTI) said on Thursday.

President Jacob Zuma will address the meet alongwith the South African Industry Minister Rob Davies.

BRICS are looking to step up investment cooperation even as capital flight and tumbling currencies have been a recent constraint in emerging markets.

“The meeting will also identify specific measures and initiatives to increase trade, business, manufacturing and investment ties among the BRICS countries and between the BRICS countries and Africa,” Chair of the BRICS Business Council Patrice Motsepe said in the DTI statement.

South African mining magnate Patrice Motsepe was chosen as the first chairperson of the BRICS Business Council.

In a bid to include greater participation of the African Union, the BRICS Business Council has also invited business leaders from 19 other African…

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