Global Influence of the BRICs Continues to Expand

President Zume of the Republic of South Africa announced on August 20 in the BRICs (Brazil, Russia, India, China, and South Africa) business council that the BRICs total trade value in 2012 reached USD 6.1 billion, accounting for 16.8% of global trade. The president further points out that BRICs account for 43% of global population with ever-expanding global influence.

Total trade value between South Africa and other BRICs nations in 2011 were 264 billion Rands, and itgrew to 293 billion Rands in 2012. Trade value between South Africa and Brazil was 18 billion Rands in 2011 and 20 billion Rands in 2012. Trade value between South Africa and Russia was 3 billion Rands in 2011 and 5 billion Rands in 2012. Trade value between South Africa and India was 53 billion Rands in 2011 and 67 billion Rands in 2012, making India the 6th largest trading partner. Trade value between South Africa and China was 188 billion Rands in 2011 and 201 billion Rands in 2012.

Council chairman Mr. Patrice Motsepe states that the mutual goal of BRICs is broaden additional values for trades and boost more investments, rather than to exclude other nations. Minister of DTI (Department of Trade and Industry) Rob Davies syas that the goal of the council is to deepen partnership and enhance the development of the African continent.