Brics Summit 2023: Advancing economic standing of global South

Various parties and stakeholders are gearing up for the Brazil, Russia, India, China and South Africa (Brics) summit where topics like the expansion of the forum and cooperation will top the agenda.

The summit will run from next Tuesday to Thursday in Johannesburg and is planned to boost trade and investments among Brics members but more importantly, to strengthen the economic standing of the global south.

More countries from Africa, the Middle East, Asia and the Americas – including several oil-exporting nations have applied for Brics membership.

The summit will take place against earlier rumours that India might attend virtually and that New Delhi was opposed to the expansion of Brics, something that has since been refuted by International Relations and Cooperation Minister Naledi Pandor.

The meeting will be preceded by a full programme of events this week including a welcome reception tomorrow afternoon and the opening ceremony on Saturday morning.

This will be followed by media panel discussions on Sunday to address various topics regarding the media.

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In the run-up to the main events, various private and public stakeholders will discuss the formation of the (private-sector) Brics Health and Pharmaceutical Forum in Pretoria today.

The forum’s objectives include establishing a Brics Clinical Research and Development Innovation Centre to advance clinical research.

The forum seminar recently discussed malaria, non-communicable diseases, mental health and closer institutional cooperation in the health regulatory environment.

The forum findings include that the Brics nations could invest in healthcare infrastructure development in Africa, including the building and development of hospitals, clinics, medical equipment and research facilities.

These would be presented to ministers, ambassadors and other officials during a gala dinner. Tomorrow, the Brics Business Council together with the Gauteng Growth and Development Agency and the Organisation for Global Africa Cooperation will hold the Africa caucus comprising senior representatives of large companies from Africa.

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From 2pm, an hour-long discussion involving business representatives such as chairpersons and CEOs of large firms will be held on the sidelines of the Brics Business Forum.

The forum will discuss how to share South Africa’s strategy and plans to develop and strengthen business ties between Africa and Brics countries.

South Africa has proposed to promote trade and investment between the rest of African business communities and the Brics nations.

The participants will explore initiatives to promote the participation of the African private sector in the activities of the Brics council and to facilitate and strengthen Africa’s trade and investment partnerships with Brics nations and its business communities.

They will also identify opportunities and challenges for the implementation of the African Continental Free Trade Area.