BRICS BUSINESS LEADERS PLEDGE COOPERATION TO INCREASE TRADE AND
INVESTMENT
The Second meeting of the BRICS Business Council took place yesterday,
15 July 2014, on the occasion of the Sixth BRICS Summit in Fortaleza , Brazil
The meeting was Chaired by Mr José Rubens de la Rosa, Chairman of the
Brazil and BRICS Business Council and attended by Mr Patrice Motsepe, Chairman
of South Africa BRICS Business Council, Mr Ma Zehua, Chairman of China BRICS
Business Council, Mr Onkar Kanwar, Chairman of India BRICS Business Council,
and Mr Sergey Katyrin, Chairman of Russia BRICS Business Council.
The BRICS Business Council established on 26-27 March 2013 during the
Fifth BRICS Summit which was held in Durban ,
South Africa
The BRICS Business Council submitted the BRICS Business Council
2013/2014 Annual Report to the BRICS Governments which highlighted areas of cooperation
and commitment to cooperate and work in partnership with the Business
communities in the BRICS countries to:
·
create a dedicated BRICS Business information exchange platform (BRICS
Business Portal)
·
host and support the holding of sector specific trade fairs, exhibitions
and forums within the BRICS nations
·
launch a special section on the website of each BRICS Business Council
country to post all BRICS business related information and updates and
commercial proposals from business and potential joint venture partners and
·
Exchange business, trade, investment and manufacturing related best
practices amongst Businesses in the BRICS countries.
The BRICS Business Council proposed that the BRICS Governments should:
·
make special arrangements on visas to facilitate and encourage BRICS
people-to-people exchange
·
accelerate the establishment of the New Development Bank (“NDB”) to
promote trade, business, investment and manufacturing ties amongst the BRICS
countries and to mobilise resources for infrastructure and sustainable
development projects in the BRICS countries and other emerging and developing
economies and
·
create a favourable environment to promote trade, business, investment
and manufacturing ties amongst the BRICS countries and treat BRICS businesses,
corporations and investments similar to local businesses, corporations and
investments.
The BRICS Business Council also recommended that the BRICS Governments
should undertake initiatives and measures with the BRICS Business Council and business
in the BRICS countries to:
·
enhance logistics and connectivity amongst the BRICS countries
·
promote cooperation in infrastructure development amongst the BRICS
countries
·
promote the elimination of export subsidies in agriculture
·
promote cooperation in mining, minerals beneficiation and adding value
to minerals, energy and green economy, pharmaceuticals, agro-processing,
services including financial, Information and Communication Technology (ICT),
transportation, healthcare and tourism, value added manufacturing development,
small, medium and macro-enterprise development, sustainable development, skills
development and the transfer of technology and
·
promote and increase value-added trade and manufacturing amongst the
BRICS countries and between the BRICS countries and Africa .
Each of the BRICS Business Council Chapters identified key
industries/sectors and projects that it wants to promote and advance in its
trade, business and investment ties with the other BRICS countries and with Africa .
The BRICS Business Council also identified barriers and bottlenecks to
promoting trade, business and investment ties amongst the BRICS countries and
made recommendations which aimed at eliminating these barriers and bottlenecks.
The Fifth edition of the BRICS
Business Forum provided valuable opportunities for matchmaking and for in-depth
discussions on promoting and increasing trade, business, investment and
manufacturing ties amongst the BRICS countries and emerging economies as well
as other global partners
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