President Cyril Ramaphosa says being a member of BRICS has created positive opportunities for the country, further enabling SA to have a strategic relationship with China.
Ramaphosa addressed the nation in the run-up to the much-anticipated 15th BRICS summit set for August 22 to 24 in Sandton Convention Centre.
The summit is also expected to discuss crucial issues such as the expansion of the membership of BRICS.
Forty heads of state, scores of government representatives, as well as local and international dignitaries and summit delegates, are expected.
In his address, he said SA had benefited from the New Development Bank, which was established by the BRICS countries in 2015.
“Our country has been funded by the bank in several infrastructure projects to the value of R100 billion in sectors such as roads, water and energy.”
He also revealed that South Africa was in full support of the expansion of the membership.
“Based on the strategic relationship between South Africa and the People’s Republic of China we will be signing several agreements during President Xi’s State visit.
“We have steadily strengthened trade and investment ties with other #BRICS countries alongside collaboration in areas like development, skills, technology, security and innovation.”
With many visitors expected in the country, he spoke about the importance of showing them Ubuntu.
“As the week begins tomorrow, the streets of our country will be hubs of activity as visitors from various countries will be our guests. Let us welcome them and give them the warmth and hospitality that we are known for.
“A number of them may choose to stay for a few days beyond the summit to visit the various beautiful parts of our country. I call on all of us to show them the very best of South African Ubuntu.” said Ramaphosa
“Together, the members of #BRICS – Brazil, Russia, India, China and South Africa – make up a quarter of the global economy, they account for a fifth of global trade and are home to more than 40% of the world’s population.
“#BRICS as a formation plays an important role in the world due to its economic power, market potential, political influence and development co-operation. Yet the value of BRICS extends beyond its sheer size.”