International relations

BRICS: Standing together in tough times

President Cyril Ramaphosa has called on the Brazil, Russia, India, China and South Africa (BRICS) grouping to strengthen trade and investment ties, particularly in Africa.

“We call on our BRICS partners to ramp up investment in not just South Africa but across the continent, particularly in the manufacturing sector,” he said, in a recent address to the virtual 12th BRICS Leaders’ Summit.

Investors will realise considerable benefits by investing in Africa, particularly with the implementation of the African Continental Free Trade Area from January 2021, he said.

President Ramaphosa called on the international community and BRICS partners to support a comprehensive stimulus package for African countries.

“This will enable African countries to contain the disease and rebuild our damaged economies.”

The New Development Bank (NDB), in particular, has a significant role to play.

“To date, the bank has approved US$4 billion of Coronavirus-related emergency assistance projects, including US$1 billion to South Africa to support our health response and social relief measures.”

President Ramaphosa welcomed indications from the NDB that it aims to provide up to US$10 billion in crisis-related assistance and to support economic recovery efforts.

He added that the battle against the Coronavirus Disease (COVID-19) and the search for a vaccine demonstrated the need to accelerate the establishment of the BRICS Vaccine Research and Development Centre in South Africa, as agreed in the 2018 Johannesburg Declaration.

“We support the initiative to establish an integrated early warning system for preventing mass infectious diseases, and believe this is a project that could be supported by the NDB.

“Investing in science, technology and innovation will not only prepare us for future health emergencies, but it will also enable us to confront other global challenges.”

President Ramaphosa said COVID-19 has highlighted the need to strengthen multilateralism as the preferred means to advance mutual interests.

“We reiterate our call for reform of the United Nations Security Council to ensure that it is more representative and inclusive, in line with the principle of the sovereign equality of all states.

“We need to ensure that trade rules take the interests of developing countries into account, particularly with respect to development through industrialisation, he added.

In this regard, the President said reform of the World Trade Organisation is key to rebalancing the global trading system and ensuring that its benefits are shared more equitably.

He said BRICS was a testament to the power of solidarity.

“Our meeting today – in the midst of economic and social turmoil – is evidence that our partnership is strong and enduring.

“Working together, let us continue our onward march towards shared peace, security and prosperity, not only for our respective countries, but for all of humanity,” said President Ramaphosa.

What will the neighbours say?

Police: 10111 Stop Gender Violence: 0800 150 150 Childline: 0800 055 555

There is no excuse for abuse. People can only help if they know.

TELL SOMEONE.