Strengthening Global Partnerships: South Africa to Host BRICS Inward Buying and Investment Missions

by
1 min read
b r

South Africa, represented by the Department of Trade, Industry, and Competition (the dtic) and the South African BRICS Business Council, is set to host Inward Buying and Investment missions from Brazil, Russia, India, and China. The initiative aims to foster economic collaboration and attract foreign investment to the country. The missions are scheduled to take place from August 13 to 23, 2023, in various South African provinces, as part of the BRICS Summit Business program.

Preparing for the 15th BRICS Summit

South Africa will host the 15th BRICS Summit from August 22 to 24, 2023, at the Sandton Convention Centre in Johannesburg. As the Chair of BRICS, South Africa will host the event under the theme “BRICS and Africa: Partnership for Mutually Accelerated Growth, Sustainable Development, and Inclusive Multilateralism.”

Facilitating Economic Collaboration

Lerato Mataboge, Deputy Director-General of Exports at the dtic, emphasizes the mission’s role as a facilitator of meaningful connections between international buyers and relevant South African partners. This initiative will help cultivate business partnerships, expand market access, promote value-added exports, and showcase South Africa’s available investment opportunities.

Mataboge points out that the missions will prioritize various industries and products, such as manufacturing, agro-processing, pharmaceuticals, and automotive sectors. This approach enables mutually beneficial collaborations between local and international businesses.

Achieving Economic Growth and Development

The Inward Buying and Investment missions aim to attract foreign investments, foster trade partnerships, generate employment opportunities, and stimulate economic growth. Mataboge further explains that the initiative aligns with the broader objectives of the BRICS Summit Business program, which focuses on promoting collaboration, attracting investment, and showcasing opportunities among BRICS members and the African continent.

South Africa’s Role in BRICS

South Africa joined BRICS in 2010 and attended its first summit in 2011. Since then, South Africa has played a vital role in this forum of progressive emerging market and developing countries. BRICS seeks to restructure the global political, economic, and financial architecture to be more equitable, balanced, and based on multilateralism and international law.

Over the years, BRICS has expanded its cooperation to three distinct pillars: political and security, economic and financial, and social/people-to-people. South Africa pioneered the expansion of BRICS’ outreach through the BRICS Outreach and BRICS Plus initiatives, engaging partners beyond BRICS member nations.

Fostering Deeper Economic Ties

The anticipated Inward Buying and Investment missions in South Africa signal a significant step towards fostering deeper economic ties and collaborations between BRICS nations and their partners. By focusing on strategic sectors and providing a platform for businesses to connect and collaborate, these missions stand to contribute significantly to the country’s economic growth and development. The initiative highlights South Africa’s commitment to strengthening its global partnerships and positioning itself as a key player in the international market.

A Russian-Spanish journalist and Cape Town native, channels his lifelong passion for South Africa into captivating stories for his local blog. With a diverse background and 50 years of rich experiences, Serjio's unique voice resonates with readers seeking to explore Cape Town's vibrant culture. His love for the city shines through in every piece, making Serjio the go-to source for the latest in South African adventures.

View all

Leave a Reply

Your email address will not be published.

t o
Previous Story

Minister Maropene Ramokgopa to Participate in Township Economy in BRICS Dialogue

courage activism Cape Town
Next Story

A Story of Courage, Hope, and Activism: The Jenna Lowe Story

Latest from Blog

early childhood education toy libraries

Cape Town’s Transformative Toy Libraries: Revolutionizing Early Childhood Development

Cape Town’s toy libraries are changing how young children learn by creating fun and exciting places to play and grow. With 24 vibrant libraries, kids can explore new stories and play with educational toys that help them develop important skills. Educators also benefit, gaining access to helpful resources that enhance teaching methods. This initiative not only supports children’s growth but also encourages a love for learning that can last a lifetime. As these libraries thrive, they inspire communities everywhere to embrace the joy of learning through play.

wastewater management urban sustainability

Innovative Urban Water Management: Embracing Wastewater Package Plants

Wastewater package plants are small, smart facilities that help cities manage dirty water in a cleaner way. They are easy to install and can be placed where big treatment plants can’t go, making them super useful for crowded urban areas. Recently, a workshop brought together many people to learn how to set up and run these plants, highlighting their importance for public health and the environment. By using these innovative systems, cities can boost their economies while making sure they take care of our precious water resources.

illegal mining south africa

Confronting Illegal Mining in South Africa: A Complex Battle

South Africa is fighting against illegal mining with a strong team of police, soldiers, and private security. They’ve recently targeted a large group of about 6,500 illegal miners in Ekurhuleni, where hidden tunnels and makeshift homes showed the extent of this underground world. While these operations can push miners away temporarily, true solutions need to address the economic struggles that drive people to these risky jobs. The goal is to create lasting change that not only protects the environment but also offers communities new opportunities for a better life.

fireworks policy public safety

Balancing Tradition and Safety: Cape Town’s Fireworks Policy

Cape Town is getting ready for exciting celebrations like Diwali and Guy Fawkes Night, but there are important rules about fireworks! To keep everyone safe, people must get permission from the police and have their event checked by the Fire and Rescue Service. While many love the colorful displays, some worry about noise and the danger to pets and wildlife. As the city balances fun traditions with safety, it’s clear that thoughtful celebrations can light up the sky without causing chaos below.