Continuously Benefiting from BRICS Cooperation - Interview with the rotating chairman of the BRICS Business Council, Busi Mabza BRICS | China | Council
Recently, Busi Mabza, the rotating chairman of the 2023 BRICS Business Council and Chairman of the South African Industrial Development Corporation, stated in an interview with Economic Daily that the global influence of BRICS countries is constantly increasing, and the business community continues to benefit from BRICS cooperation. Looking ahead to the future, the business community is the driving force for BRICS countries to achieve sustainable development and should strengthen exchanges and cooperation to benefit developing countries.
This year marks the 10th anniversary of the establishment of the BRICS Business Council. "Looking back at the past 10 years, we are proud of our own work," Mabza said. "Over the past 10 years, the BRICS countries have become the main driving force of global economic growth and continue to play a pillar role in the 'global southern' countries.". Through the nine industry working groups established by the BRICS Business Council, businesses from various industries in the BRICS countries continue to benefit from BRICS cooperation. The business community of BRICS countries should become a core driving force for common and sustainable development, bringing tangible dividends to each other.
In recent years, the BRICS Business Forum has become an important supporting event for BRICS leaders' meetings. As the organizer of the 2023 BRICS Business Forum, Mabza introduced South Africa's considerations for cooperation in the BRICS business community to reporters. Currently, the development of BRICS countries is facing both opportunities and challenges. As the rotating presidency of the BRICS countries, South Africa regards energy cooperation as the most critical area, aiming to build a platform for communication and cooperation in the energy field for enterprises, governments, and academia, and promote BRICS countries to achieve energy equity and fair transformation. In addition, skills education, unleashing the potential of the African continent's free trade zone, and post pandemic sustainable development are also priorities for this year's BRICS cooperation.
As the Chairman of the South African Industrial Development Corporation, a national development financial institution in South Africa, Mabza's job is to attract foreign investment and enhance South Africa's industrialization level. Currently, South Africa's exports are still dominated by primary products, with a relatively single trade structure. When it comes to promoting trade diversification in South Africa, Mabza stated that the South African government will improve its visa system, increase energy supply reliability, and resolutely combat criminal behavior, in order to give investors confidence, attract more foreign investment into South Africa's industrial sector, and increase the added value of South African exports. "Fortunately, the BRICS partners did not see the problems facing South Africa as investment barriers, but instead saw them as opportunities for cooperation and worked together with South Africa to solve related problems."
Mabza stated that China is a crucial participant in BRICS cooperation, and its economic scale brings many opportunities to its trading partners. In addition, China's energy technology development level is at the forefront of the world, providing valuable support for South Africa to cope with the electricity crisis. Investment from China has created employment opportunities and improved infrastructure for South Africa, as well as raised the technological level of relevant industries in South Africa.
Currently, more and more countries are applying to join the BRICS cooperation mechanism. "After South Africa officially joined the BRICS countries in 2010, we have a deep understanding of the dividends brought by BRICS cooperation." Mabza said that the BRICS has brought us many opportunities, allowing us to engage with the world's largest and fastest growing emerging economies.
As the rotating presidency of the BRICS countries in 2023 and the country with the strongest comprehensive national strength on the African continent, South Africa is committed to promoting the African economic agenda in the BRICS mechanism and is willing to further strengthen cooperation between the BRICS and Africa. Mabza introduced that food security is an important challenge currently faced by African countries and developing countries. The Agricultural Economy Working Group of the BRICS Business Council is not only working to ensure fertilizer supply, but also coordinating technology transfer in the agricultural field. "If the BRICS countries provide sufficient technological and financial support to Africa to prevent food security threats, I believe this will be a huge victory for BRICS cooperation," said Mabza.