Brand South Africa, in collaboration with the Gauteng Growth and Development Agency (GGDA), recently hosted a roundtable titled Deepening the relationship between Brazil, Russia, India, China and South Africa (BRICS).
The discussion reflected on how the formation of BRICS challenges the current global political, economic and social paradigm and the implications of this on the overall brand.
General manager for research of Brand South Africa, Dr Petrus de Kock, said analysts expressed surprise at some of the successes of BRICS, particularly in the context of the formation of its New Development Bank. The New Development Bank is a multilateral development bank operated by BRICS.
Brand South Africa, the GGDA and representatives from various commissions representing Russia, China, India and Brazil discussed the increased formalisation of intra- and inter-BRICS interactions, including the establishment of institutions such as the BRICS New Development Bank.
“Based on research conducted by the BRICS Research Group, and other analysts, BRICS has achieved a 70 percent implementation and compliance rate in terms of implementing summit decisions. As a relatively young multilateral organisation, the high compliance levels by member states are a progressive indicator. This means that levels of co-operation are not only high but that buy-in into the organisation and its objectives is of strategic significance for all member states,” said De Kock.
The five BRICS countries currently represent over 3 billion people or 42 percent of the world population, as all five countries are among the top 25 largest populations in the world, and four are in the top 10.
It was debated that the accomplishments and growing institutionalisation of BRICS enable the forum to develop a brand personality that consistently advocates for the implementation of the global developmental agenda.
Details: www.brandsouthafrica.com
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