News Formal

BRICS Business Council adopts trade, investment promotion statement

  • 📰 SABCNews
  • ⏱ Reading Time:
  • 36 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 51%

United States News News

United States United States Latest News,United States United States Headlines

The BRICS Business Council says it has adopted a trade and investment promotion statement aimed at increasing intra-BRICS trade.

The various chapters of the council say this is a 10-year plan of action that includes enhancing trade through bilateral agreements and the exploration of value chain opportunities.

BRICS accounted for 7% of global trade in the year 2000 and has grown to about 30% of global trade currently. The group says a so-called AIR-LIFT strategy is also on the cards to promote connectivity and trade between the member countries. “We have now created a model for the world that moves us away from an extractive approach in terms of economic engagement towards a collaborative approach where we can all benefit and why this is important for the African continent. We have the resources in abundance still in our continent, be it the human capital in terms of the youth that we have, be it the minerals resources or other natural resources,” says Busi Mabuza, BRICS business council, South Africa.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 37. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

BRICS contributed 32% to global GDP, says bloc's business councilHead of the BRICS Business Council, Stavros Nicolaou, said the bloc's contribution to the global GDP was a show of force as the emerging markets look to set a new economic agenda.
Source: ewnupdates - 🏆 30. / 53 Read more »

BRICS Business Forum: Non-tariff barriers key hindrance to agriculture tradeThe BRICS Business Forum is currently underway at the Sandton Convention Centre in Johannesburg.
Source: ewnreporter - 🏆 35. / 51 Read more »

LIVE| BRICS Business Forum: Minister Patel addresses the Manufacturing ForumThe Minister of Trade, Industry and Competition, Ebrahim Patel addresses the Manufacturing Forum at the BRICS Trade Fair.
Source: SABCNews - 🏆 37. / 51 Read more »

BRICS Summit: Patel hosts Business Forum ahead of 15th SummitThe BRICS Business Council is expected to conduct various panels as the 15th Summit kicks off today. Watch live..
Source: TheSAnews - 🏆 25. / 59 Read more »