Published 22 March 2018, written by an ANA reporter

South Africa will become the first BRICS nation to hold the rotating chairmanship of the BRICS Business Council for a second time.

Africa is set for a decade of “unbelievable growth and prosperity”.

This is according to Dr Iqbal Survé, chairman of the SA chapter of the BRICS Business Council, who will take up the annual rotating chairmanship of the overall BRICS Business Council (BBC) at the mid-term meeting which takes place in Shanghai, China, next week.

The BRICS membership is made up of Brazil, Russia, India, China and South Africa.

Survé said the mid-term meeting was very important, coming as it does a few short months before the 10th BRICS summit in Gauteng on July 25-27, with the BRICS Business Council set to meet in KwaZulu-Natal on July 22-23. A BRICS Business Forum meeting takes place on July 25 in Gauteng.

Established in March 2013 during the fifth BRICS summit in Durban, this year will see South Africa become the first BRICS nation to hold the rotating chairmanship of the BRICS Business Council for a second time. The BRICS Business Council aims to facilitate co-operation between the five countries in various sectors, as well as promote trade and industry.

Commenting on the growing momentum on the African Continental Free Trade Area which saw 44 countries sign the AfCFTA in Kigali, Rwanda, this week, while a number of others, including SA, signed the Kigali Declaration which committed to the establishment of the African economic community which aspires to the free movement of persons and goods to facilitate trade, Survé said: “This is absolutely the best thing to happen to Africa in a very long time.”

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