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“South Africa’s four tyre manufacturers: Goodyear, Bridgestone, Continental and Sumitomo (Dunlop) are all owned by international tyre companies with extensive global footprints. These four manufacturers supply automakers and the tyre replacement market, and they send consignments to other parts of Africa. An average of 11 million tyres are sold in South Africa each year”. – Global research and markets
BRICS BUSINESS COUNCIL OUTREACH PROGRAMME
FACT
IN DECEMBER 2019, TRADE & INVESTMENT KWAZULU- NATAL AND THE SOUTH AFRICAN CHAPTER OF THE BRICS BUSINESS COUNCIL (BBC) CO-HOSTED A BUSINESS BREAKFAST IN DURBAN, SOUTH AFRICA.
Cyril Ramaphosa during the 2018 Presidential Investment Conference.
The platform also provides an opportunity to leverage New Development Bank buy-in from all participating BRICS partners. The New Development Bank (NDB) formerly referred to as the BRICS Development Bank, is a multilateral development bank established by the BRICS states.
Projects and programmes emanating from these discussions are executed under the various Working Groups, namely: Agribusiness; Regional Aviation; Skills Development; Infrastructure; Financial Services; Manufacturing; Digital Economy; Deregulation; Energy & Green Economy.
Key outcomes from the December 2019 business session included the resolution that Workgroup Chairs would host roundtable discussions in KwaZulu-Natal, commencing with the Skills Development; Infrastructure and Digital Economy working groups.
In her speech, Ms Busi Mabuza, Chairperson of the BRICS Business Council highlighted that Working Groups are the engine of the BRICS Business Council. Regular multilateral engagements enable each Working Group to emerge with key recommendations that are tabled at the Annual BRICS Business Council Meeting. Upon ratification, this is included in the Annual Report, which is handed over by the country Chairs to the respective Heads of State. In 2019, the annual meeting took place in Brazil, with the key theme being Economic Growth for an Innovative Future. South Africa had a strong delegation in attendance and contributed significantly to the final recommendations.
“The objectives of the BRICS Business Council are largely facilitative - our role is to ensure that there is regular dialogue between different businesses in the respective countries. BRICS is becoming increasingly important, especially as multilateral institutions are being torn apart by the nationalism and the inward looking spirit that we are witnessing in countries such as North America. It is therefore critical that South Africa is part of that”, said Ms Mabuza.
She further highlighted the importance of BRICS as a single voice that advocates issues on behalf of all Africans and that BRICS accounts for 42% of the world population. “In this age of the Africa Continental Free Trade Area Agreement it is even more important that we present a single voice that addresses issues facing the continent,” Ms Mabuza added.
Participating at the BRICS Outreach Programme Panel from left to right: Musa Makhunga – HR Matters, Jacqui Mathe – Lion Match, Shaazia Kolia – Minnie’s Food Enterprise, Katie Friedma – Urban Lime, Preedip Mothilal – Findoors/Board Express, Zithulele Bele – MB-U Origin and Neville Matjie – TIKZN
The session, which was hosted by Mr. Neville Matjie, CEO of TIKZN, and chaired by Ms. Ina Cronje, TIKZN Board Chairperson, together with Ms Busi Mabuza, Chairperson: SA BRICS Business Council, served as an introduction of the SA BRICS Business Council to KZN businesses and provided a platform to demystify BRICS and provide KZN businesses with an understanding of the trade and investment opportunities available to them, via BRICS structures.
The business breakfast was attended by the BRICS Business Council Members and KZN companies that were interested in the opportunities presented by BRICS and the New Development Bank. Participants in the programme also included Dr Stavros Nicolaou, Council Member SA BRICS Business Council, Ms. Bridgette Radebe, Council Member SA BRICS Business Council, Dr Petrus de Kock, Brand SA, and Mr Thabo Rakoloti, Senior Professional: New Development Bank.
The BRICS Business Council (BBC) was established in March 2013 during the 5th BRICS Summit held in Durban, South Africa. The BBC is the practical expression of the BRICS business agenda and is essential for the implementation of projects in the respective BRICS countries. The SA Chapter of the BRICS Business Council endeavours to expose South African businesses to the intra- trade and investment opportunities that exist within the BRICS structures. The KZN-hosted business breakfast provided such a platform and invited the participation of private sector companies and economic development entities.
The BBC strives to position South Africa with counterparts in Brazil, Russia, China and India towards achieving the target of $100 billion investment in South Africa over the next four years, as articulated and envisaged by President
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