President Ramaphosa
President Cyril Ramaphosa emphasized the numerous benefits that South Africa has gained from being a part of the BRICS group of countries during a session in the National Council of Provinces (NCOP).
Additionally, the recent expansion of the group, now known as BRICS Plus, with the inclusion of Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE, has further enhanced South Africa’s economic prospects.
President Ramaphosa highlighted China as South Africa’s largest trading partner, asserting that BRICS membership has solidified and promoted this important relationship. He emphasized that the economic benefits of BRICS extend far beyond political engagement, encompassing areas such as trade, technology, and economic development.
Furthermore, the president expressed optimism about the ongoing growth and influence of the BRICS group. He hinted at the potential for additional countries to join BRICS, emphasizing its importance as a forum for advancing the interests of member countries.
Addressing concerns about the financial impact of hosting the BRICS Summit in August, President Ramaphosa stated that the economic benefits outweighed the costs. He emphasized the positive impact of the summit on South Africa’s economy, mentioning the influx of visitors who bolstered the tourism industry and stimulated local businesses.
The president cited the example of China, which sent 600 delegates to the summit, resulting in increased spending in South Africa.
He also acknowledged the presence of delegates from other countries, further contributing to the economic boost.
President Ramaphosa emphasized the immediate economic benefits of hosting such a prestigious international gathering and reiterated the value of South Africa’s association with BRICS.
Brics
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