Brics’ block to ad­dress fourth in­dus­trial rev­o­lu­tion

The New Age (Northern Cape) - - INSIDE - THELMA NGOMA thel­man@the­

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.

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