President Jacob Zuma has
concluded a successful Working Visit to Xiamen in the
People's Republic of China, where he attended the Ninth
Brazil, Russia, India, China and South Africa (BRICS)
Summit with other BRICS leaders. The summit took place
from 3 to 5 September 2017 under the theme: "BRICS:
Stronger Partnership for a Brighter Future".
During the summit, the BRICS leaders discussed issues of
mutual concern aimed at achieving development, economic
growth and prosperity, as well as peace and security,
which brought them together in the past 10 years. The
leaders acknowledged that they had traversed a
remarkable journey together on their respective
development paths tailored to their national
circumstances, devoted to growing their economies and
improving people's livelihoods. The BRICS leaders also
committed to building responsive, inclusive and
collective solutions to the world economic challenges,
including poverty and unemployment.
The BRICS leaders met with the BRICS Business Council
where the efforts and contribution of the BRICS Business
Council and Business Forum to strengthen economic
cooperation in infrastructure, manufacturing, energy,
agriculture, financial services, e-commerce, alignment
of technical standards and skills development were
discussed. "This year, we had the biggest business
delegation which indicates the amount of interest BRICS
has aroused," said the President.
They reaffirmed their commitment to BRICS industrial
cooperation, including on industrial capacities and
policies, new industrial infrastructure and standards,
as well as small, micro and medium-sized enterprises (SMMEs),
in order to jointly seize the opportunities brought
about by the Fourth Industrial Revolution and expedite
respective industrialisation processes. In this regard,
they agreed to explore the establishment of the BRICS
Institute of Future networks.
The BRICS leaders agreed to promote the development of
BRICS Local Currency Bond Markets and jointly establish
a BRICS Local Currency Bond Fund, as a means of
contributing to the capital sustainability of financing
in BRICS countries, boosting the development of BRICS
domestic and regional bond markets, including by
increasing foreign private-sector participation and
enhancing financial resilience of BRICS countries.
In terms of global security, the BRICS leaders noted the
challenges and threats faced by the international
community and committed to enhance communication and
cooperation in international fora on issues concerning
international peace and security. "That is why we have
considered urgent that the BRICS Security Cluster of
Ministers meet to discuss these current threats to our
security and that of the globe," said the President.
President Zuma and leaders noted with satisfaction the
launch of the Africa Regional Centre of the New
Development Bank (NDB) on 17 August 2017 in
Johannesburg. The launch was welcomed and lauded as a
major milestone for Africa as a whole, as it underlines
BRICS' commitment to the development of the African
continent and emerging markets. "The launching of the
bank in Johannesburg recently is indeed momentous. The
idea of having our own BRICS Bank is historical and a
game changer, because it will handle matters of finance
in a friendly way to the developing world. The bank
will first work with member countries and with time,
will extend to the rest of Africa and other countries.
The Umzimvubu Water Project and the Moloto Corridor are
just two examples of the projects the NDB will work on
immediately. We are also glad that the bank has gained
acceptance globally," said President Zuma.
On the sidelines of the BRICS Summit, President Zuma
held bilateral meetings with BRICS leaders, namely:
President Xi Jinping of the People's Republic of China;
President Vladimir Putin of the Russian Federation; as
well as as the President of the Arab Republic of Egypt,
Abdel Fattah el-Sisi, who attended the Dialogue of
Emerging Markets and Developing Countries.
President Zuma also met with President Emomali Rahmon of
Tajikistan, whose country shares a border with China and
also forms part of the Emerging Markets and Developing
Countries. President Rahmon invited President Zuma for a
State Visit to Tajikistan, to further strengthen
bilateral economic relations between the two countries.
In continuation of a BRICS tradition of outreach that
began during the Durban Summit, BRICS leaders held a
Dialogue of Emerging Markets and Developing Countries on
the implementation of the 2030 Agenda for Sustainable
Development and the building of broad partnerships for
The dialogue was held under the theme: "Strengthening
Mutually-Beneficial Cooperation for Common Development"
in promotion of BRICS Plus cooperation.