President Cyril Ramaphosa will address the nation on Foreign Policy and BRICS Summit.
President Cyril Ramaphosa will this evening, 20 August 2023 address the nation on South Africa’s Foreign Policy and the upcoming BRICS Summit.
Watch the address in the video below.
The 15th BRICS summit will be held from the 22nd to 24th August at the Sandton Convention Centre in South Africa.
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What are the key issues on the agenda?
The following appeared on Alarabiya News. The full article can be read HERE.
Other than developing economic relations and trade infrastructure, one of the most pressing issues on the summit’s agenda is BRICS’ expansion, with several nations from Asia, Africa and Europe vying to join the bloc.
While the group’s stance on expansion is divided – China and Russia have embraced it, but India remains opposed to Beijing’s plans – as many as 40 countries have reportedly shown interest in joining the bloc formally or informally. These include Algeria, Belarus, Saudi Arabia, UAE, Iran, Indonesia, Argentina, Ethiopia and Egypt.
Another item on the bloc’s agenda that has gained traction and attracted media headlines is the push from BRICS to conduct more cross-border trade in local currencies to reduce the group’s reliance on the US dollar.
Several reports of a new BRICS’ currency also emerged in the months preceding the summit, with some economic experts claiming that the economic bloc may, in the future, push for de-dollarization – reducing the US dollar’s dominance in global trade and finance.
However, according to a Bloomberg report, South Africa’s ambassador to the bloc, Anil Sooklal, said there are no plans to discuss replacing the US dollar.
