Numerous businesses show up for Brics trade fair

Amid the groundswell of optimism about how Brics (the group of the five fastest-growing emerging economies of Brazil, Russia, India, China and SA) can boost the local economy, businesses – from medium-sized food manufacturers to large electronic and energy enterprises – yesterday converged at the Brics trade fair at Midrand’s Gallagher Estate.

For a moment – South African business, on the eve of the 15th Brics leaders’ summit – put domestic politics and economic challenges on the back burner.

Gallagher Estate’s halls two and three were transformed into the mecca of Africa – with men and women making serious deals.

READ: Ramaphosa hopes to narrow trade deficit ‘that exists in China’s favour’

As if to underscore that South Africa was open for business, stalls were full of exhibitors promoting their products, with the Brics trade fair having attracted huge attendance from member states’ businesses.

While big and small businesses interacted on how best to sell products, The Citizen paid attention to some conversations while roving through the stalls.

Attracting new markets was what local enterprises wanted to achieve.

Founder and CEO of Zazi’s Productions, Thobeka Ndabula, from Ekurhuleni’s Modderfontein, came to exhibit her products such as fruit juices, biltong, dried fruit and chocolate.

Another exhibitor was Loyiso Manga, founder and director of Ubuntu Extra Virgin Olive Oil – a Cape Town-based olive oil-producing company.

Both Ndabula and Manga were grateful to the department of trade, industry and competition for offering them an opportunity to participate in the exhibition.

Wits University economist Prof Jannie Rossow described Brics as “an important platform to boost local trade and investment”.

“While Brics is good for us – providing potential for growth in trade and beneficiation – we must also remember that there is a lot of trade outside the body’s grouping,” he said.

“We run a balance of trade deficit, meaning that we import more than we export in goods and services.”

Rossouw said the world would have to “pay attention during deliberations on whether the Brics’ membership is likely to be enlarged or not”.

He added: “While this may be one of the crucial decisions to come out of Brics deliberations, it may not be something that will happen immediately.

“It may also be important to watch how China plans to position itself in its strategic Belt and Road initiative.

“If South Africa can get more manufactured exports to reach global markets, that can grow the local economy and create much-needed jobs.”

On load shedding, he said: “We have experienced load shedding for the past 15 years.

“This has impacted negatively on manufacturing. Beneficiation in South Africa will only take off seriously once we see investment in manufacturing.

“And that will be when we see an end to load shedding.”

With many eyes on the official state visit by Chinese President Xi Jinping to South Africa today, there will also be much interest focused on the seven agreements to be signed, which include accords on electricity and energy.

READ: President Xi Jinping’s SA visit to bring energy solutions

Additional reporting by Eric Naki.