South African trade has taken centre stage at the ongoing inaugural BRICS Trade Fair in New Delhi, which began on October 12 and will end on October 14.
Thirty three South African companies are showcasing their value proposition to business people and investors from the BRICS block ahead of the annual Summit of leaders from Brazil, Russia, India, China and South Africa scheduled for 15-16 October 2016 in Goa. The Summit will be held under the theme “Building Responsive, Inclusive and Collective Solutions.”
Companies from KwaZulu-Natal, Gauteng, Western Cape and Eastern Cape have been chosen, based on their applications to participate in this programme through the Export, Marketing, and Investment Assistance Scheme (EMIA) of the Department of Trade and Industry (the dti).
The Department of Trade and Industry’s Deputy Director General of Trade and Investment South Africa (TISA) Ms Pumla Ncapayi, briefing South African business representatives ahead of the Trade Fair on Tuesday 11 October 2016 said, “The BRICS formation aims to offer an alternative to the commonly accepted global political and economic architecture.”
“Strengthening inter-BRICS trade and economic relations will be an important enabler of this alternative narrative. Furthermore the BRICS Business Council Working Groups will also convene ahead of the Summit. This Working Group is seized with how to enable the ease of doing business including matters related to projects that will advance our developmental objectives in agriculture manufacturing, financial services, infrastructure and skills development,” said Ms Ncapayi.
“South African companies have an opportunity to network and showcase their industrial capabilities within the block which brings with it a market of approximately 42% of the world’s population,” concluded Ms Ncapayi.
Sectors represented at the Trade Fair are aligned to South Africa’s Industrial Policy Action Plan (IPAP) including, amongst others, manufacturing, agro-processing, energy security, mining and capital equipment and technology, Footprint to Africa reports.