JOHANNESBURG, Sept. 11 — South African President Cyril Ramaphosa called for greater investment in manufacturing and value addition within BRICS, saying the expanded grouping provides an opportunity for the Global South to build a more resilient, diversified and inclusive economic future.
Ramaphosa made the remarks on Friday while addressing the BRICS Business Forum Leaders’ Dialogue on the sidelines of the 18th BRICS Leaders’ Summit in New Delhi, according to the South African Presidency.
Ramaphosa said developing economies should move beyond their traditional role as suppliers of raw commodities and deepen productive relationships within the expanded BRICS. “For us, this is an opportunity to shape a more resilient, diversified and inclusive economic future for the Global South,” he said.
He said investment should be directed toward manufacturing and beneficiation, industrial technologies, energy systems, infrastructure and logistics, with companies investing not only to access markets but also to establish production facilities and develop local capabilities.
Noting the profound challenges facing the global economy in recent years, the president stressed that resilience is not simply the capacity to withstand disruption, but also the ability to turn disruption into new capabilities and partnerships.
Ramaphosa said the BRICS Business Council should serve not only as a forum for consultation but also as a mechanism for developing commercial relationships and productive partnerships.
“The question is no longer whether there is potential within BRICS, but whether we have the ambition, the instruments and the partnerships to convert this potential into economic value for our people,” he said. (Namibia Daily News / Xinhua)
