JEREMY MAGGS: ANC treasurer-general Gwen Ramokgopa, says the potential growth of the Brics [Brazil, Russia, India, China and South Africa] Forum should not be seen as a threat to developing nations. Currently, Brics nations represent 30% of the global population and with more countries having applied for membership, this figure, she says, could go up to around 50%.
So our mandate is a very clear one, and that’s where we intend to keep our focus. Being drawn into any of the political side shows is going to be dilutive. It’s contrary to the mandate that we aim to execute on and contrary to what is good for business, frankly.JEREMY MAGGS: All right, Stavros, I do acknowledge that. So let’s move ahead then to the August summit.
So if I look at a four-year compounded period, 2017 to 2021, trade within Brics has grown at 44%, and our trade with the Brics partners has also grown in that period. Then lastly, we are the conduit as South Africa to the rest of the continent. The African Continental Free Trade Area is starting to take shape.
STAVROS NICOLAOU: Jeremy, the best way to describe the situation is probably to quote Henry Kissinger. Kissinger once said, America has no friends, it only has interest. I think we’ve got to look at it that way ourselves as South Africa, we have to find these trade and investment opportunities and be agnostic to the geopolitics that are playing out.
JEREMY MAGGS: And Stavros finally, in spite of the headwinds that you’ve mentioned ahead of the summit, what is the general sense within the council about the outcome here? Is there a growing sense of bullishness?
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