South Africa to Host Annual BRICS Summit

The government of South Africa is steadily preparing to host the 10th annual BRICS summit this year in Johannesburg.
BRICS is a five-member consortium of emerging economies: Brazil, Russia, India China, and South Africa. The summit will be held from July 25-27.
South Africa took over the chairmanship of the organization from China on January 1 and will continue in this role until December 31.
“BRICS is an important global formation and South Africa is privileged to host the summit the second time around, as we enter the second decade of cooperation,” said Anil Sooklal, Deputy Director General of the Department of International Relations and Cooperation (DIRCO). South African hosted the fifth annual BRICS summit in 2013.
The first formal summit of the BRICS group was hosted by Russia in 2009. The heads of state from each country met in Yekaterinburg to discuss world economics in the aftermath of the 2008 global financial crisis.
The BRICS relationship has been fruitful for trade between the five countries. In 2105, over $255 billion was transferred between the nations in goods and services.
According to The South African, exports to BRICS countries increased by 12.3 percent from 2011 to 2016 to $11.5 billion while imports increased 100 percent to $19.2 billion in the same period.
In addition to economic discussions, the summit will also address issues of gender and women empowerment, said Sooklal.

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