President Ramaphosa addresses 12th BRICS Leaders' Summit.


By Phumzile Mavimbela

President Cyril Ramaphosa addressed the 12th  BRICS leaders Summit hosted virtually under the theme, Partnership for Global Stability, Shared Security and Innovative Growth. He said the founding of  BRICS has stood as a testament to the power of solidarity and in the midst of the current economic and social turmoil has evidenced that South Africa's partnership with BRICS countries is strong and enduring.

Ramaphosa mentioned that  meeting at a time of global crisis a time that calls for cooperation and dialogue between the nations of the world. The COVID-19 pandemic has damaged economies and devastated livelihoods across the world disrupting trade and investment. For emerging economies already facing challenges of poverty, inequality and underdevelopment, the pandemic has taken an even greater toll .


"As BRICS countries, we are called upon to unite, to demonstrate our collective will and to provide leadership. This pandemic has taught us the necessity of strengthening health systems and being prepared for future emergencies of this nature and scale. It has shown us the importance of investing in science, technology and innovation. Above all, it has taught us that international solidarity must pave the way to stability, security and economic growth."

Ramaphosa thanked the leaders on behalf of South Africa and the African continent  for the solidarity  received from  BRICS partners, both through bilateral assistance and support for our continental response.

 
This week South Africa is set to host it's  third Investment Conference. A platform to share with investors the progress we have made in economic reforms and to showcase our country’s potential as an investment destination. Ramaphosa said this is a central pillar of our national recovery is to diversify and upgrade our industrial capacity, supporting the wider processes of industrialisation across Africa. He called on  BRICS partners to ramp up investment in not just South Africa but across the continent, particularly in the manufacturing sector. Stating that Investors from the BRIC countries will realise considerable benefits by investing in Africa, particularly with the implementation of the African Continental Free Trade Area from January 2021. 


While African leaders acted swiftly to contain the disease, it will take a long time for our economies to recover. We therefore endorse the call made by the UN Secretary-General António Guterres for a New Global Deal. This includes a more inclusive and balanced multilateral trading system, the reform of debt architecture and greater access to affordable credit for developing countries.

 In the spirit of this New Global Deal we call on the international community and our BRICS partners to support a comprehensive stimulus package for African countries. 

This will enable African countries to contain the disease and rebuild our damaged economies. The New Development Bank has a significant role to play. To date, the Bank has approved $4 billion of COVID-related emergency assistance projects, including $1 billion to South Africa to support our health response and social relief measures. We welcome the indications from the New Development Bank that it aims to provide up to $10 billion in crisis-related assistance and to support economic recovery efforts.

We further welcome the commitment by our Health Ministers to promote access to affordable, quality medicines and to make diagnostic tools available within BRICS countries.

South Africa is participating in several research initiatives with continental and international partners, including the global effort to develop, manufacture and distribute a COVID-19 vaccine. The current experience demonstrates the need to accelerate the establishment of the BRICS Vaccine Research and Development Centre in South Africa, as agreed in the 2018 Johannesburg Declaration. 

We support the initiative to establish an integrated early warning System for preventing mass infectious diseases, and believe this is a project that could be supported by the New Development Bank.



 

Article Tags

BRICS

Cyril Ramaphosa

Bilateral Relations

International Relations

South Africa

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