• All Share : 51653.11
    DOWN -0.23%
    Top 40 : 4427.38
    DOWN -0.14%
    Financial 15 : 14593.84
    UP 0.04%
    Industrial 25 : 59012.64
    DOWN -0.39%

  • ZAR/USD : 10.6960
    UP 0.33%
    ZAR/GBP : 18.0545
    UP 0.14%
    ZAR/EUR : 14.3171
    UP 0.24%
    ZAR/JPY : 0.1040
    UP 0.32%
    ZAR/AUD : 9.9445
    UP 0.03%

  • Gold : 1294.6950
    DOWN -0.16%
    Platinum : 1477.2000
    UP 0.01%
    Silver : 20.6700
    UP 0.26%
    Palladium : 881.5000
    UP 0.74%
    Brent Crude Oil : 106.170
    DOWN -0.32%

  • All data is delayed by 15 min. Data supplied by INET BFA
    Hover cursor over this ticker to pause.

Thu Jul 31 13:31:29 SAST 2014

Only South Africans doubt Brics role: Nkoana-Mashabane

Sapa | 05 March, 2013 14:14
Foreign Minister Maite Nkoana-Mashabane. File photo.
Image by: CHAIWAT SUBPRASOM / REUTERS

South Africans wrongly doubt their own country's ability to be part of the Brics economic bloc, International Relations and Co-operation Minister Maite Nkoana-Mashabane said on Tuesday.

Other members of Brics -- the group of countries consisting of Brazil, Russia, India, China and South Africa -- were clear about why their countries should be a part of the grouping, she said in Durban.

South Africans were unsure. "They think this thing (Brics) looks too big."

Nkoana-Mashabane said South Africa's membership had delivered tangible trade and development benefits to the country.

South Africa itself had much to offer the economic bloc, especially in terms of financial services, where it was a world leader.

She said South African companies were doing business in many of the other Brics countries, just as those countries' companies were doing business in South Africa.

Bilateral trade with all the Brics countries had increased.

Nkoana-Mashabane was helping to promote Brics and the Fifth Brics summit to be held at the Durban International Convention Centre from March 26 to 27. More than 5000 delegates are expected to attend.

She said this would be the first Brics summit at which the countries' leaders could meet other African leaders.

A Brics Development Bank, a Brics Big Business Chamber, and Brics think tanks are expected to be established at the summit.

Nkoana-Mashabane said Brics leaders would also use the opportunity to look at conflicts around the globe, including Syria.

Durban millionaire businessman Vivian Reddy has urged South African business to see the summit and South Africa's membership of Brics as an opportunity.

SHARE YOUR OPINION

If you have an opinion you would like to share on this article, please send us an e-mail to the Times LIVE iLIVE team. In the mean time, click here to view the Times LIVE iLIVE section.
Thu Jul 31 13:31:29 SAST 2014 ::