Brics leaders meet in Johannesburg, Rwanda representatives attend
2018-07-26 11:09
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The Prime Minister of India Narendra Modi arrives at Waterkloof Air Force Base in Pretoria on Wednesday to attend the summit. (GCIS, DIRCO).
Modi’s visit to South Africa comes after he earlier visited Rwanda and Uganda.
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The meeting of the five heads of state comes after speakers at previous panels roundly criticised the imposition of tariffs on Chinese exports by US President Donald Trump.
“Brics cooperation will be a solution to [the] challenge of de-globalisation,” said chairperson of the Bank of China Chen Siqing, according to a translated version of his opening address, at a panel discussion on Tuesday.
Leslie Maasdorp, vice-president and chief financial officer at the New Development Bank – commonly known as the Brics bank, said on Tuesday that globalisation was “irreversible”, and the protectionist path adopted by the US will only see the country become more isolated.
On Wednesday Chinese President Xi delivered an address that criticised US trade policies while not mentioning Trump or the US by name.
“We BRICS countries should firmly promote an open world economy, be resolute in rejecting unilateralism and protectionism, promote trade and investment liberalization and facilitation, and jointly steer the global economy toward greater openness, inclusiveness, balanced growth and win-win outcomes for all,” he said, according to a translated version of his remarks.
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President Cyril Ramaphosa and his counterparts from Brazil, Russia, India and China are set to meet in Johannesburg for the second day of the 2018 Brics Summit, which brings together leaders and businesses from the five major emerging economies.
According to the official schedule, Ramaphosa will deliver a statement at 11:15. Then what the programme refers to as “others Brics heads of state” will give short statements.
After remarks by Iqbal Surve, chair of the Brics Business Council, and KV Kamath, president of the New Development Bank, the Brics heads of state will adopt the Johannesburg Declaration, which will bradly set out their goals and views.
The 10th Brics summit is also being attended by a number of representatives from invited African countries, including Rwanda, Ethiopia, Gabon, Senegal and Togo.
Turkey’s President Recep Erdogan arrived in Johannesburg on Wednesday to attend the summit. He and Russian leader Vladimir Putin are expected to hold talks on the sidelines of the events.
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The leaders’ meeting at the 10th Brics Summit in Joahnnesburg comes a day after President Cyril Ramaphosa and his Chinese counterpart Xi Jinping addressed the Brics Business Forum, where they criticised countries that act unilaterally in trade deals.
“We are meeting here, ladies and gentlemen, at a time when the multilateral trading system is facing unprecedented challenges. We are concerned by the rise in unilateral measures that are incompatible with World Trade Organisation rules, and we are worried about the impact of these measures, especially as they impact on developing countries and economies,” said Ramaphosa.
Xi, who spoke after Ramaphosa, said that protectionism was on the rise. “Unilateralism and protectionism are mounting, dealing a severe blow to multilateralism and the multilateral trading regime.”
