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The Presidency, Pretoria, Media Statement, 17 October 2016

 

 

President Zuma Concludes a Successful BRICS Summit

 

 

President Jacob Zuma has returned to Pretoria after concluding a successful
working visit to Goa in India, where together with Leaders at the 8th BRICS
Summit, South Africa committed to building responsive, inclusive and
collective solutions to the world economic challenges.

 

The 8th BRICS (Brazil, Russia, India, China, South Africa) Summit took place
from 15-16 October 2016.

 

During the two-day Summit, President Zuma held bilateral meetings with all
four  BRICS leaders, namely, H.E President Xi Jingping of the People's
Republic of China; H.E President Vladimir Putin of the Russian Federation;
Prime Minister Narendra Modi of the Republic of India, and H.E President
Michel Temer of Brazil.

 

Bretton Woods

 

The leaders discussed bilateral, regional and multilateral issues of mutual
concern aimed at achieving development, economic growth and prosperity, as
well as peace and security.

 

Under the theme of the Summit, the BRICS leaders held interactive roundtable
discussions on strengthening intra-BRICS cooperation and reflected on global
issues such as international conflicts, the fight against terrorism, and
reform of the global system of governance, notably the democratisation of
the United Nations and the Bretton Woods Institutions.

 

The BRICS leaders met with the BRICS Business Council where they received
the Council's Annual Report on salient economic developments and projects,
including the various initiatives undertaken by its Working Groups. The
Leaders further directed the Council to accelerate the development and
realisation of joint projects which, on a mutually beneficial basis, should
contribute to the economic objectives of BRICS.

 

The BRICS Business Council, which consist of five members of each country,
focuses amongst others, on areas of infrastructure, manufacturing, financial
services, energy and the green economy, skills development, agribusiness and
deregulation. The five members of the South African BRICS Business Council
are: Mr Brian Molefe (ESKOM), Dr Iqbal Surve (Sekunjalo), Dr Danisa Baloyi
(Black Business Council), Mr Khanyisile Kweyama (BUSA), and Mr Stavros
Nicolaou (BRICS Information Sharing and Exchanging Platform).

 

Nepal

 

BRICS Leaders also engaged in an Outreach Summit, together with the Leaders
of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic
Cooperation (BIMSTEC) which comprises Bangladesh, Bhutan, India, Myanmar,
Nepal, Sri Lanka and Thailand. The regional organization brings together 1.5
billion people in the region with a combined GDP of over US$ 2.5 trillion.

 

President Zuma stated that: "South Africa welcomes India's outreach
initiative to the BIMSTEC countries and support the regional development and
integration initiatives of BRICS members."

 

The 8th BRICS Summit concluded with the adoption of the Goa Declaration and
Action Plan, which highlighted the strong foundation that BRICS has made in
terms of establishing institutional mechanisms for tangible cooperation.

 

NDB, CRA, ARC and BRICS Rating Agency

 

In this regard, the BRICS Leaders noted with satisfaction the
operationalisation of the New Development Bank (NDB) and of the Contingent
Reserve Arrangement (CRA), which contributes greatly to the global economy
and the strengthening of the international financial architecture. The BRICS
Leaders also welcomed the report presented by NDB President on the work of
the Bank during the first year of its operations and progress made in
operationalising the Africa Regional Centre (ARC) of the NDB.

 

The BRICS leaders further welcomed the possibility of setting up an
independent BRICS Rating Agency based on market-oriented principles, in
order to further strengthen the global governance architecture.

 

A Memorandum of Understanding on Establishment of BRICS Agriculture Research
Platform was signed at the conclusion of the Summit, as part of the
expanding BRICS institution-building agenda and sectoral cooperation
initiatives.

 

Triple challenges

 

During the Summit, President Zuma remarked that: "The annual meetings of
BRICS countries have contributed to finding innovative approaches and
solutions to our identified triple challenges - poverty, unemployment and
inequality, as well as the development objectives and infrastructure agenda
of the Continent as outlined in the African Union's Agenda 2063. We look
forward to developing new BRICS initiatives in a wider range of areas in the
years to come."

 

The BRICS Leaders again welcomed the African Union's (AU) vision,
aspirations, goals and priorities for Africa's development enshrined in
Agenda 2063, which is complementary with the 2030 Agenda for Sustainable
Development. The Leaders reaffirmed their support for Africa's
implementation of its various programmes in pursuit of its continental
agenda for peace, socio-economic development, sustainable development and
regional integration.

 

The incoming Chair of BRICS, China, will host the Ninth BRICS Summit in
2017.

 

President Zuma was accompanied by the Minister of International Relations
and Cooperation, Ms Maite Nkoana-Mashabane; Minister of Trade and Industry,
Dr Rob Davies; Minister of Science and Technology, Ms Naledi Pandor;
Minister of State Security, Mr David Mahlobo; and Minister of Small Business
Development, Ms Lindiwe Zulu.

 

 

Issued on 17 October 2016 by the Presidency, Pretoria

 

Enquiries:

Dr Bongani Ngqulunga on 082 308 9373 or  <mailto:bong...@presidency.gov.za>
bong...@presidency.gov.za 

 

 <http://www.thepresidency.gov.za> www.thepresidency.gov.za

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



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