Export credit agencies reaffirm co-operation
THE heads of export credit agencies of BRICS countries reaffirmed co-operation between themselves, deepening of partnerships, creating a favourable external environment, actualising co-operation and crafting a shared vision of the future.
This comes after the 4th BRICS export credit agencies (ECAs) meeting on Tuesday, attended by all five heads ECAs of BRICS countries, including Kutoane Kutoane, the head of Export Credit Insurance Corporation of South Africa (ECIC).
The meeting coincided with the 10th BRICS Summit in Johannesburg.
In a statement, the heads of ECAs said delegates discussed the partnership between ECIC and the African Export-Import Bank, trade and investment opportunities in Africa, an African economic and political update, and an update on co-operation with the New Development Bank.
The heads of ECAs said the meeting reaffirmed the four pillars for co-operation among BRICS ECAs, and they committed to enhancing confidence, working together, strengthening their co-operation and achieving visible win-win results.
The African Export-Import Bank recently announced that it had entered into partnerships or understandings with numerous third parties, including the ECIC, to support and finance economic and trade development and trade diversification across Africa.
Meanwhile a two-day meeting of the BRICS Business Council held in KwaZulu-Natal has highlighted that province’s appeal as an investment destination, said acting premier Sihle Zikalala.
“We were able to showcase our investment opportunities and expose delegates to some of our catalytic initiatives,” Zikalala said.
“During the investment session, many BRICS delegates indicated an interest in investing in the province.”
He said the New Development Bank, a multilateral development bank established by the BRICS states, had indicated its willingness and readiness to support member countries in pursuit of their aspirations, and that KwaZulu-Natal was “poised to benefit handsomely from the bank, as can be evinced in the Durban port terminal which is financed by the bank”.