POLICY PERSPECTIVE
Aside from the mandatory photographs and ribbon-cutting ceremonies, did South Africa actually benefit from the conference? In a word, yes.
In a mirror image of the formal government engagements, South Africa chaired the BRICS Business Council in 2023. This provided us with a platform to engage the private sector bodies of other BRICS countries. The Agribusiness Working Group, under the expert guidance of my colleague Wandile Sihlobo, provided the politicians with a clear statement of intent. The private sector wants to see real, tangible economic benefits from BRICS, and all five countries who are currently members, share this sentiment.
TRADITIONAL TRADING PARTNERS
Outside of the African continent, South Africa’s free trade agreements are with its traditional trading partners and not with any of the BRICS countries. This is unlikely to change as South Africa’s manufacturing sector may need some tariff protection from industrial giants like India and China.
However, the central message was that more should be done to remove non-tariff barriers to open up markets within BRICS.
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