Brics’ block to address fourth industrial revolution
IT’S full steam ahead for the Brics summit in July and powerful states are expected to gather in months to come in discussion of cooperation in an era of the fourth industrial revolution.
Brics ambassador Anil Sooklal yesterday said the focus of the summit will be to advance national interests, to advance the African continent while strengthening cooperation among the nations.
South Africa will be hosting the 10th summit of the Brics bloc in July grouping Brazil, Russia, India, China and South Africa. Sooklal said that this is a huge opportunity for the South African business industry because it gives them a chance sell more to the Brics community.
“We must take advantage of this opportunity. There is no reason why South Africa’s GDP can’t grow at 5%. Brics accounts for nearly 30% of the global economy and is predicted to grow even higher” he said.
Research says that the Brics countries make up almost 50% of the world population and close to one third of the world’s economic output, or GDP.
Movers and shakers of the business world in the Brics countries will be in attendance in July and this is the opportunity expected to put the country on the map for the investment summit that will follow.
Sooklala said the theme that speaks on the fourth industrial revolution must be addressed.
The first Brics summit took place in 2009 in the Russian Federation and focused on issues such as reform of the global financial architecture. South Africa was invited to join Brics in December 2010 after which the group adopted the acronym Brics.
Former president Jacob Zuma subsequently attended the third Brics summit in China in March 2011.