BRICS gives S. Africa chance for nation-building: expert
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E-mail Xinhua, March 26, 2013
The BRICS mechanism provides an opportunity for South Africa to learn from other members in nation-building and for the whole Africa to stimulate economic growth, says a local business executive.
South Africa has an opportunity to "learn from the examples of nation-building on the part of Brazil, Russia, India and China," Hlengani Mathebula, chairman of the Black Business Executive Circle (BBEC), said in a recent interview with Xinhua.
Launched in 2000, the BBEC is a grouping of South African private and state-run companies' directors and executives aimed at promoting economic growth.
Calling BRICS an influential club, he said South Africa needs to play an increasingly active role in it if the country wants to attract potential investors and polish its global image.
South Africa's hosting of the fifth BRICS summit on March 26-27 sends a clear message to the world and its fellow BRICS members in particular that it is open for business, he added.
By hosting the summit, he said, South Africa has a good chance to encourage new business opportunities, draw more foreign investment and promote economic growth for the country.
The summit is important to South Africa and its aspirations for growth and economic development, he said.
"It will provide an unprecedented opportunity to explore common ground, identify new business and economic cooperation opportunities, and share knowledge and expertise in areas of mutual interest," he said.
Meanwhile, the BRICS summit also represents a great opportunity to stimulate economic growth throughout Africa, added Mathebula.
He urged all African business leaders to pay attention to the summit and seize the opportunity for Africa to play a bigger role on the global stage.
"The BRICS summit ... provides an unprecedented opportunity for key business decision-makers and opinion-leaders from across the African continent to explore business, political and cultural opportunities with BRICS member countries," Mathebula said.
BRICS consists of Brazil, Russia, India, China and South Africa, with the name formed by the initials of the five emerging economies. It had been known as BRIC before South Africa joined the group in 2010.
The BRICS countries make up about 42 percent of the world's total population, 20 percent of the global economic output and 15 percent of world trade.
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