Background: BRICS Energy Event 2018

June 23rd, 2018, Published in Uncategorised articles

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“The rise of BRICS is one of the epochal developments in the first decade of the 21st century”
– Debita Aurobinda Mahpatra

South Africa has taken over the rotating chairmanship of BRICS from China. In the role of chair, South Africa will be responsible for hosting the BRICS Summit, the BRICS Business Forum and the BRICS Business Council Annual Meeting 2018, as well as coordinating numerous BRICS Business Council related activities.

The hosting of the BRICS is particularly significant as it is only the second time that South Africa is hosting BRICS, the last time being when the BRICS Business Council was first launched at the BRICS Summit in 2013 in Durban. It was at the launch of the BRICS Business Council, that the idea of a “BRICS” Bank to fund development within BRICS and developing countries was first proposed. The New Development Bank (NDB) was launched two years thereafter and the NDB African Regional Centre was established in Gauteng in 2017. This is a notable achievement.

Click here for an invitation and to register to attend the BRICS Energy Event 2018

South Africa is hosting BRICS at a time when the winds of change are blowing in the country, signalled by the recent change of political leadership in the country. We are therefore immensely honoured to have this opportunity to showcase the work of the BRICS Business Council to the world, whose eyes will be focused on us during our tenure. Expectations of excellent delivery are high and we are determined to put our best foot forward to demonstrate South Africa at its finest.

BRICS, entered into its second decade last year and has emerged as an influential, global multi-lateral platform since its establishment in June 2006. South Africa joined BRICS in 2010 at the 5th BRICS Summit in Durban. BRICS is one of the major fundamentals of South Africa’s foreign policy and our chairmanship in 2018 affords the opportunity for the South African and African agenda to be foregrounded on the BRICS agenda.

Central to the BRICS philosophy is the notion that the world is a multi-polar universe, and engagement between countries should be based on mutual cooperation. The principle is that no single power should dominate the global economic and political agenda. Another guiding principle is that dialogue, not war, is the appropriate mechanism to deal with the worlds many conflicts and challenges. Any country that shares this philosophical principle is welcome to engage with BRICS. The broadening of participation was given effect, with the unfolding of BRICS + in 2017 – with an the invitation to five additional developing countries, including Kenya, Egypt and Mexico, to the BRICS Business Forum and Summit 2017, held in Xiamen, China.

On a practical level, BRICS is a force to be reckoned with, as 40 % of the world’s population live in the BRICS countries. In economic terms they account for approximately 30% of global GDP, which is projected to surpass the size of the G-7 economies by mid-century.

BRICS is indeed an epochal development and is gaining in ascendancy as an influential global platform and the BRICS Business Council, five years old in 2018, is following this trajectory of making multi-lateral and bi-lateral economic cooperation between BRICS and developing economies possible.

In July 2018, the SA BRICS Business Council will host its Annual Meeting, with guests from all five of the BRICS Business Councils, and from developing countries, with a strong focus on Africa. We anticipate the attendance of 450 business leaders from these countries.

The Energy and Green Economy Working Group together with the South African National Energy Association (SANEA) will be hosting an Energy Event on 24 July 2018 in Johannesburg. The event is aimed at bringing together energy experts, energy companies, investors, government officials, NGO’s and academics from BRICS countries and other African countries. The event will provide a platform for debate and innovation and be an opportunity for investors and project developers to network and move energy projects forward.

Click here for an invitation and to register to attend the BRICS Energy Event 2018

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