‘BRICS a global brand’

BRICS countries had made a total of 406 commitments and implemented 70% of decisions made at annual summits between 2009 and last year, according to Brand SA.

The marketing agency said BRICS alliance has become a distinct global brand with the five developing nations becoming advocates of free global trade, globalisation and promoters of protection of the environment in light of global climate challenges.

“The development of the BRICS brand takes place in a post-global financial crisis world characterised by growing protectionism, trade wars and turbulent political change,” Brand SA general manager for research Petrus de Kock said.

“The developments in the global economy and geopolitical environments play a major role in driving the search for strengthened, deepened and institutionalised BRICS interactions.

“BRICS nations have been bucking these global trends of anti-globalisation and counter integration istd is courses and as a result, have anchored their own economies through the BRICS partnerships.”

South Africa is the host of the 10th BRICS Summit in Johannesburg against the backdrop of a brewing trade war between the US and China, Canada, Mexico and the EU over tariffs which have also hit developing countries.

Brand SA said BRICS countries connected 42% of the world’s population.