South Africa stepping in to chair the BRICS – Brazil, Russia, India, China, South Africa – from January 1, 2018. The decision has been taken at recent summit of members of BRICS association in Xiamen, China, in September 2017.
Vice President of BRICS New Development Bank, Leslie Maasdorp, said to Russian TASS news agency, that the South African government has not submitted the objectives and agenda of its chairmanship.
However one can presume the priorities of South Africa’s policy following its record of co-operation with the BRICS partners, formally shaping their agenda at the joint events in 2018, guided by the President Jacob Zuma’s speech at a special session of the BRICS Business Council held in September 2017 during the 9th summit in Xiamen.
Efforts to promote economic development and growth, increase trade volumes and attract investment to the industrial sector of South Africa’s economy are identified as the key objectives for the country’s participation in this format at that time. There are also expectations of investment in industry, following government’s plans support the creation of new jobs, poverty reduction.