By The President of South Africa H.E Cyril Ramaphosa has joined other member states at the XVI BRICS Summit hosted by the chairing country, the Russia Federation in Kazan on Tuesday, 22 October 2024.
Ramaphosa is leading South Africa in the participation of the Summit themed “Strengthening Multilateralism for Just Global Development and Security,” which will run from 22 to 24 October 2024.
President Cyril Ramaphosa met with the hosting President H.E Vladimir Putin in the afternoon to strengthen bilateral relations between the two countries, he further gave feedback to the Russian President regarding the Government of National Unity (GNU) sighting its advantages and opportunities for investment and economic growth, to affirm Russia that the seventh administration still renders South Africa a viable and attractive destination for investment.
As BRICS has expanded it terrain on the globe, more countries from the global South are showing interest in joining the economic bloc. BRICS recently welcomed two African countries Egypt and Ethiopia alongside Iran and the United Arab Emirates into its fold.
Ramaphosa is expected to hold bilateral meetings with the respective member states during the summit to advance the political and economic agenda of South Africa.
He will today, Wednesday, 23 October 2024, deliver the country statement during the BRICS Plenary session themed Strengthening Multilateralism for Just Global Development and Security,” and later attend the Welcoming Ceremony for Heads of Delegations of BRICS States, Invited Countries and International Organizations.
President Ramaphosa will deliver the second country statement on 24 October 2024 during the BRICS Summit Outreach/BRICS Plus session held under the theme “BRICS and Global South: building a better world together”. The aim of the dialogue is to enhance BRICS ties with leading developing economies.
A founding value of BRICS is the shared vision of the urgent need to restructure global political, economic and financial governance to be more fair, just and representative. The expanded BRICS now covers 43% of the world’s population, 32% of the world’s land area, around 35% of global GDP and 20% of world exports and provides opportunities to develop mutually beneficial cooperation that contributes to the sustainable growth and development of South Africa.
It is not clear whether the BRICS will discuss the R5, the gold-backed BRICS currency as the bloc is on a quest to de-dollarize its trade and only use a currency that is mutually beneficial for its member countries. The deviation from the dollar shook the globe as it will usher in a new world order.
During the XVI BRICS Summit, BRICS Leaders will reflect on the status of mutually beneficial BRICS cooperation, regional and global economic and political developments as well as global governance reform.
President Cyril Ramaphosa is flanked by Minister of International Relations and Cooperation, Mr Ronald Lamola; Minister of Defence and Military Veterans, Ms Angie Motshekga; Minister in the Presidency, Khumbudzo Ntshavheni, and Minister of Trade, Industry and Competition, Mr Parks Tau.
