GEOPOLITICS
- BRICS began as an informal alliance of economic powers and has evolved into an association that supports economic cooperation and the Strategy for BRICS Economic Partnership.
- The group has established the New Development Bank (NDB) for financing infrastructure projects and the BRICS Business Council to connect the business communities of member nation
- While focused on trade and investment, BRICS is not a formal trade bloc with a comprehensive, legally binding agreement.
- BRICS nations are significant trading partners for South Africa, with substantial growth in both exports and imports since 2016.
- South Africa has continuously recorded a growing deficit in its balance of trade with other BRICS economies, which has more than quadrupled since 2010, according to Business Tech.
- Significant growth in South African exports to China has been a primary contributor to the overall trade increase.
- The BRICS framework aims to develop market access opportunities and inter-linkages between member countries.
- The South African agricultural sector is particularly interested in leveraging BRICS to boost exports of products like fruits, wine, wool, and beef to China and India.
- South Africa's developed infrastructure, including ports, railways, and logistics networks, positions it to act as a conduit for trade and investment into the wider African continent.






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