11 Updates
BRICS to pursue value-added trade
Photo Credit: ALEXANDER JOE, Getty Images

BRICS to pursue value-added trade

Aug 20 2013, 6:28am CDT | by IANS

Johannesburg, Aug 20 (IANS) Value-added trade and establishment of the BRICS Development Bank are high on the agenda of the BRICS countries, South African Trade and Industry Minister Rob Davies said as the BRICS Business Council met here to identify specific measures to step up trade and investment.

Johannesburg, Aug 20 — Value-added trade and establishment of the BRICS Development Bank are high on the agenda of the BRICS countries, South African Trade and Industry Minister Rob Davies said as...

Filed under: news

YouTube Videos

 
 
 

1 year ago

BRICS to pursue value-added trade

Aug 20 2013, 6:28am CDT | by IANS

Johannesburg, Aug 20 (IANS) Value-added trade and establishment of the BRICS Development Bank are high on the agenda of the BRICS countries, South African Trade and Industry Minister Rob Davies said as the BRICS Business Council met here to identify specific measures to step up trade and investment.

Johannesburg, Aug 20 — Value-added trade and establishment of the BRICS Development Bank are high on the agenda of the BRICS countries, South African Trade and Industry Minister Rob Davies said as the BRICS Business Council met here to identify specific measures to step up trade and investment.

Davies said trade ministers of the BRICS (Brazil, Russia, India, China and South Africa) group of countries had been meeting over the years to discuss ways of promoting cooperation in trade and investment.

"One of the important conclusions that we came to is that we are all industrialising economies, a group of dynamic, emerging economies," he said. "As such, we need to promote a pattern of interaction in the area of trade, which supports value-added production in each of our economies."

BRICS trade ministers have embarked on a study on how to promote value-added products and strengthen investment relations.

The South African chairperson of the Council, Patrice Motsepe, said that mutual benefit was also an important factor for the BRICS countries.

"Not just a talk-shop. We don't want discussions that are theoretical or academic," he said, noting that specific projects had been identified for discussion. "For us, it's to focus on value-added exports, the processing of products and manufacturing in South Africa.

"I'm confident that in the next few year, you will see a change in the quality of trade that has been taking place between South Africa and Africa, and the rest of the BRICS countries," Motsepe said.

Referring to Africa, Davies said value-added products would transform the continent from a "source of raw materials" into a key player in the global economy.

'We need to add value to our products. We need to add value to our mineral products [and] our agricultural products.

"We need to promote a much more value-added economy. We need to do this by integrating our continent [Africa]. We need to consolidate this by a massive infrastructure development programme on the continent," Davies told reporters.

Davies said that Africa, which was the next growth frontier, needed to set out on a different trajectory over next few years if it was "to consolidate that growth into real development". The continent needed to industrialise, he said.

Regarding the setting up of Brics development Bank, he said: "We think that there is a massive investment challenge which faces all of us in BRICS ."

At the conclusion of the fifth BRICS summit in Durban in March, the BRICS leaders had agreed to the establishment of a BRICS Development Bank to help finance infrastructure programmes and sustainable development in BRICS and other developing countries.

South Africa Reserve Bank deputy governor Daniel Mminele earlier this month had said chief negotiators had been appointed by each country, and that negotiations had begun to set up the Bank.

Davies said he believed the bank could also benefit non-BRICS members.

"Among other things, a Brics-led development bank would play a role in financing projects in all of the Brics countries, but not necessarily only in the Brics countries," he said.

"From a South African perspective ... we need to create jobs for our people. We need to create opportunities for improving the standards of living for our people."

Prominent business leaders from 19 other African countries are also taking part in the first BRICS Business Council meeting at the Sandton Convention Centre.

The Council was established by the BRICS heads of state and government during their summit in Durban in March 2013, to develop and grow business, trade, manufacturing and investment ties amongst the group countries and between them and Africa.

-- Indo-Asian News Service

srj/vm

IANS

Source: IANS

 
Update
11

1 day ago

Lesotho leaders to meet South African president

Aug 31 2014 8:12am CDT | Source: Townhall's

JOHANNESBURG (AP) — Lesotho's prime minister is in South Africa to meet with leaders of his country's coalition government and South Africa ...
Source: Townhall's   Full article at: Townhall's
 

 
Update
10

4 days ago

South African court orders release of tapes

Aug 28 2014 9:18am CDT | Source: Townhall's

JOHANNESBURG (AP) — South Africa's Supreme Court of Appeals on Thursday ordered the release of taped phone conversations about corruption charges ...
Source: Townhall's   Full article at: Townhall's
 

 
Update
9

1 week ago

Joe Scarborough: Ferguson Like Apartheid South Africa Because Police Lack Diversity

Aug 25 2014 1:48pm CDT | Source: Big Government

On Monday, Joe Scarborough suggested that the lack of diversity among Ferguson's police force makes the city resemble South Africa under apartheid. On his Morning Joe show, Scarborough spoke about "community policing" and said that the unrest in Ferguson "started with the police department." He said that there is not a "partnership" between the Ferguson community and the police department by whi ...
Source: Big Government   Full article at: Big Government
 

 
Update
8

1 week ago

Against Divestment -- Why Walking Away Won't Make a Difference

Aug 22 2014 12:35pm CDT | Source: Politics - The Huffington Post

Fund managers who invest billions of dollars on behalf of nonprofits, workers, and retirees are under a lot of pressure to show their opposition to non-sustainable energy sources by selling all their stock in fossil fuel companies. The argument is that this will send a message to the companies' boards, executives, and investors and to consumers, legislators, and the general public that these lines of business are harmful and unsustainable. The mission is "not on ...
Source: Politics - The Huffington Post   Full article at: Politics - The Huffington Post
 

 
Update
7

1 week ago

Moscow Considers Joint Weapons Development with BRICS Countries

Aug 21 2014 12:14pm CDT | Source: Big Government

Russia, Brazil, and South Africa are working to hold "three-party negotiations" by the end of the year on jointly developing military weapons and equipment. At that same time, "Russia may sign a contract with Brazil to supply Pantsyr-S1 ... air defense missile and cannon systems to this country." According to the Russia and India Report, Anatoly Isaykin, general director of Rosoboronexport, said Russia is ...
Source: Big Government   Full article at: Big Government
 

 
Update
5

2 weeks ago

South African Union Leader Calls for Attacks on Jews 'Everywhere'

Aug 14 2014 2:26am CDT | Source: Big Government

A leader of South Africa's most powerful trade union has called for attacks on Jews in response to the war in Gaza.  In a posting on his personal Facebook page Wednesday, Tony Ehrenreich, the leader of the Congress of South African Trade Unions (Cosatu) in the Western Cape province, called for "an Eye for an Eye against Zionist aggression" and warned that "if a woman or child is killed in Gaza," then Jews who ...
Source: Big Government   Full article at: Big Government
 

 
Update
4

2 weeks ago

Miners Shot Down - film exposes murder and collusion in South Africa

Aug 12 2014 12:23pm CDT | Source: Socialist Worker UK

Rehad Desai, director of the Miners Shot Down film, talked to Socialist Worker about why it’s a must-see for tr ...
Source: Socialist Worker UK   Full article at: Socialist Worker UK
 

 
Update
3

2 weeks ago

 
Update
2

3 weeks ago

Erwin Bieber: BAE Eyes Portfolio Focus With Land Systems South Africa Divestiture

Aug 11 2014 9:06am CDT | Source: GovConWire

BAE Systems and DGD Technologies 2001 are planning to sell their holdings in the Land Systems South Africa defense company to Denel […] ...
Source: GovConWire   Full article at: GovConWire
 

 
Update
1

3 weeks ago

Verdict in Pistorius murder trial set for September 11: judge

Aug 8 2014 8:31am CDT | Source: Townhall's

PRETORIA (Reuters) - South African judge Thokozile Masipa said on Friday she would deliver her verdict in the murder trial of Paralympi ...
Source: Townhall's   Full article at: Townhall's
 

 

Don't miss ...

 

blog comments powered by Disqus

Latest stories

Modi focuses on women's empowerment, education
Tokyo, Sep 2 (IANS) Prime Minister Narendra Modi Tuesday stressed on the need for women's empowerment in the present-day world as he began the fourth day of his visit to Japan.
 
 
US continues air strikes against IS in Iraq
Washington, Sep 2 (IANS) US forces continued their attack on Islamic State (IS) militants in northern Iraq with three more air strikes conducted Monday, the army said.
 
 
13 killed in Baghdad bomb blasts
Baghdad, Sep 2 (IANS) As many as 13 people have been killed in two explosions in Iraq's capital Baghdad Monday, a police source said.
 
 
Rebels, Syrian forces clash near Golan Heights
Cairo, Sep 2 (IANS/EFE) Islamic rebels clashed with the Syrian forces near Israeli-controlled Golan Heights Monday, the Syrian Observatory for Human Rights said.
 
 
 

Latest from the Network

Modi focuses on women's empowerment, education
Tokyo, Sep 2 (IANS) Prime Minister Narendra Modi Tuesday stressed on the need for women's empowerment in the present-day world as he began the fourth day of his visit to Japan. Modi, who was addressing students of the...
Read more on Politics Balla
 
George Clooney's back pain continues
Los Angeles, Sep 2 (IANS) Almost 10 years after filming the Oscar-nominated movie "Syriana", actor George Clooney is still feeling the effects of his on-set back injury. The actor traveled to Duke University earlier...
Read more on Celebrity Balla
 
Carrie Underwood is pregnant
Carrie Underwood is pregnant. The former 'American Idol' winner, 31, and husband Mike Fisher announced on Twitter tonight (09.01.14) that they're expecting their first child together. The blonde beauty posted a...
Read more on Celebrity Balla
 
50 Cent buys son miniature car
50 Cent bought his son a miniature car for his birthday. The 39-year-old rapper - whose real name is Curtis James Jackson - surprised Sire with a little Mercedes ML450 SUV, a smaller representation of his own vehicle,...
Read more on Celebrity Balla
 
Kirsten Dunst criticises Apple for leaked photos
Kirsten Dunst has hit out at Apple after naked photographs of her were allegedly leaked online. The 32-year-old actress took to her Twitter account last night (09.01.14) to criticize the American multinational...
Read more on Celebrity Balla
 
Daisy Lowe feels 'rubbish' without exercise
Daisy Lowe feels ''rubbish'' if she doesn't exercise at least three times a week. The 25-year-old model admits she maintains her enviable figure by working out on a regular basis, but she still enjoys tucking in to...
Read more on Celebrity Balla
 
Paul Smith collaborates with Led Zeppelin
London, Sep 2 (IANS) British fashion designer Paul Smith has collaborated with legendary rock band Led Zeppelin for his latest scarf collection. The London-based designer has teamed-up with the band to create the...
Read more on Celebrity Balla
 
US continues air strikes against IS in Iraq
Washington, Sep 2 (IANS) US forces continued their attack on Islamic State (IS) militants in northern Iraq with three more air strikes conducted Monday, the army said. The strikes destroyed three IS trucks and...
Read more on Politics Balla
 
13 killed in Baghdad bomb blasts
Baghdad, Sep 2 (IANS) As many as 13 people have been killed in two explosions in Iraq's capital Baghdad Monday, a police source said. Thirteen people were killed and 45 others injured when two car bombs exploded in...
Read more on Politics Balla