10 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

 
 
 

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
10

6 weeks ago

How Renewables In Developing Countries Are Leapfrogging Traditional Power

Nov 4 2014 10:10am CST | Source: ThinkProgress

A solar array in South Africa. CREDIT: Shutterstock Lots of poorer countries may be gearing up to largely skip fossil fuel reliance in favor of renewables, if a report released last week is any indication. It’s long been assumed that developing nations — particularly those in Africa and Asia — would need to follow the same course as the United States and other western powers, relying on traditio ...
Source: ThinkProgress   Full article at: ThinkProgress
 

 
Update
9

6 weeks ago

Boris Johnson: Rebalance Immigration Away From EU, Towards 'English Speaking Peoples'

Nov 3 2014 10:20am CST | Source: Big Government

London Mayor Boris Johnson has called for immigration into the United Kingdom to be rebalanced away from the European Union and towards “the English speaking peoples” of the Commonwealth, including Canada, Australia, New Zealand, and South Africa, and “an end to porous borders”. In a rallying call to those who have watched as uncontrolled European immigration has taken priority over old allies in the Commonwealth, Johnson said: “In 2013 I visited Australia and was remind ...
Source: Big Government   Full article at: Big Government
 

 
Update
8

6 weeks ago

Suspect in killing of South Africa national soccer captain arrested

Oct 31 2014 10:32am CDT | Source: Townhall's

JOHANNESBURG (Reuters) - A suspect in the killing of the captain of South Africa's national soccer team, Senzo Meyiwa, has been ...
Source: Townhall's   Full article at: Townhall's
 

 
Update
7

7 weeks ago

South Africa captain killed protecting girlfriend

Oct 27 2014 3:57am CDT | Source: Townhall's

By Mark Gleeson JOHANNESBURG (Reuters) - South Africa soccer captain Senzo Meyiwa was shot dead by intruders when trying to protect his ...
Source: Townhall's   Full article at: Townhall's
 

 
Update
6

7 weeks ago

South Africa soccer team captain shot and killed

Oct 27 2014 3:20am CDT | Source: Townhall's

JOHANNESBURG (AP) — The captain of South Africa's national soccer team was fatally shot at a friend's house during an att ...
Source: Townhall's   Full article at: Townhall's
 

 
Update
5

8 weeks ago

Pistorius prosecutors consult expert over appeal

Oct 24 2014 6:13am CDT | Source: Townhall's

STELLENBOSCH, South Africa (AP) — Oscar Pistorius could still face a murder conviction and 15 years in prison for killing his ...
Source: Townhall's   Full article at: Townhall's
 

 
Update
4

8 weeks ago

[Opinion] EU states should follow Sweden on Palestine

Oct 23 2014 2:24am CDT | Source: EUobserver.com

Israel's ex-ambassador to South Africa tells EUobserver his country is on "the slippery slope of apartheid" by destroying prospects for a Palestinia ...
Source: EUobserver.com   Full article at: EUobserver.com
 

 
Update
3

8 weeks ago

WHO: TB epidemic 'even bigger than we thought'

Oct 22 2014 5:31pm CDT | Source: WND

(PBS) — There are 500,000 more cases of tuberculosis worldwide than previously estimated, according to a new report released today by the World Health Organization. The WHO’s Global Tuberculosis Report 2014 underscored that the highly contagious disease remains the second biggest infectious disease killer, infecting an estimated nine million people last year and killing 1.5 million. The new numbers revealed “what many of us had feared, that the TB epid ...
Source: WND  Full article at: WND
 

 
Update
2

8 weeks ago

Pistorius gets 5 years in prison

Oct 21 2014 10:00am CDT | Source: WND

(NBC NEWS) PRETORIA, South Africa – Olympic sprinter Oscar Pistorius was loaded into an armored van and taken to prison on Tuesday after a judge sentenced him to five years for the Valentine’s Day killing of his girlfriend Reeva Steenkamp. Judge Thokozile Masipa said the sentence, which followed the athlete’s conviction for culpable homicide, was “fair and just both to society and to the accused.” The so-called “Blade Runner” – who also was handed a three-yea ...
Source: WND  Full article at: WND
 

 
Update
1

8 weeks ago

Pistorius arrives at South Africa court for sentencing

Oct 21 2014 2:15am CDT | Source: Townhall's

PRETORIA (Reuters) - South African Olympic and Paralympic track star Oscar Pistorius arrived at the Pretoria High Court on Tuesday fo ...
Source: Townhall's   Full article at: Townhall's
 

 
 

blog comments powered by Disqus

Latest stories

School headmaster shot dead in Pakistan
Islamabad, Dec 4 (IANS) Unidentified gunmen Thursday killed the headmaster of a private school in Pakistan's Balochistan province.
 
 
Four more bodies recovered from sunken South Korean ship
Seoul, Dec 4 (IANS) Four more bodies were recovered Thursday from a sunken South Korean fishing ship in the Bering Sea, the foreign ministry here said.
 
 
Lesbian couple asked to desist in London restaurant
London, Dec 4 (IANS) A lesbian couple in a London restaurant was asked to desist by a staff member, who asked them to "stop what you are doing".
 
 
Oxford Dictionaries to add 1,000 new words
London, Dec 4 (IANS) 'Mamil' (middle-aged man in Lycra), 'silvertail' (a person who is socially prominent or who displays social aspirations) and 'crony capitalism' are among the 1,000 new words to be added to OxfordDictionaries.com, the free online dictionary, in its largest quarterly update so far.
 
 
 

Latest from the Network

Australian researcher discovers first artwork by early human
Sydney, Dec 4 (IANS) An Australian researcher has discovered what is believed to be the first artwork created by a human. The simple zigzag pattern found on a fossilized shell from the Indonesian island of Java has...
Read more on Celebrity Balla
 
Insects compete with rats to clear garbage
New York, Dec 4 (IANS) Insects play a very important role in cleaning up cities and they compete with other pests like rats and pigeons in their endeavour, a study has said. Scientists sampled arthropods - such as...
Read more on Business Balla
 
School headmaster shot dead in Pakistan
Islamabad, Dec 4 (IANS) Unidentified gunmen Thursday killed the headmaster of a private school in Pakistan's Balochistan province. Police officials said the armed men opened fire at the vehicle of Zahid Ali,...
Read more on Politics Balla
 
Four more bodies recovered from sunken South Korean ship
Seoul, Dec 4 (IANS) Four more bodies were recovered Thursday from a sunken South Korean fishing ship in the Bering Sea, the foreign ministry here said. This increased the toll to 16, including six South Koreans and 10...
Read more on Politics Balla
 
Lesbian couple asked to desist in London restaurant
London, Dec 4 (IANS) A lesbian couple in a London restaurant was asked to desist by a staff member, who asked them to "stop what you are doing". Lydia Cawson, 29, said that she and her girlfriend were asked by a staff...
Read more on Politics Balla
 
Oxford Dictionaries to add 1,000 new words
London, Dec 4 (IANS) 'Mamil' (middle-aged man in Lycra), 'silvertail' (a person who is socially prominent or who displays social aspirations) and 'crony capitalism' are among the 1,000 new words to be added to...
Read more on Celebrity Balla
 
Oceans play key role in global 'warming hiatus'
London, Dec 4 (IANS) Increased heat uptake across three oceans - North Atlantic, the Southern Ocean and Equatorial Pacific Ocean - is the likely cause of the 'warming hiatus' -- the current decade-long slowdown in...
Read more on Politics Balla
 
Novel imaging to identify if TB drugs are working
Washington, Dec 4 (IANS) Tuberculosis patients who are not cured of the infection can develop multi-drug resistant TB and have to take as many as six drugs for two years. Now, researchers at University of Pittsburgh...
Read more on Business Balla
 
PM makes first appointment to High Court of Australia
Canberra, Dec 4 (IANS) Prime Minister Tony Abbott's government Thursday appointed former Victorian Supreme Court judge Geoffrey Nettle as the next Justice of the High Court of Australia. Attorney General George...
Read more on Politics Balla
 
18 suspected militants killed in Pakistan airstrikes
Islamabad, Dec 4 (IANS) At least 18 suspected militants were killed Thursday in airstrikes conducted by Pakistan Air Force fighter jets in North Waziristan. According to officials, the airstrikes were conducted in...
Read more on Politics Balla