When BRICS meets Africa

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The BRICS comprising Brazil, Russia, India, China, and South Africa is an important engine for the world economy recovery and growth, and is considered the hope of the world's future. Africa has witnessed rapid development in recent years; therefore it is also called "a continent of hope." With inter-connected destinies, BRICS countries and Africa share broad prospects for cooperation.

The fifth BRICS summit will be held in Durban, South Africa on March 26 and 27. This will complete the first round of BRICS summits, and mark the first BRICS summit held in Africa. The theme of the summit is "BRICS and Africa: Partnership for Development, Integration, and Industrialization." During the summit, BRICS leaders will also hold talks with their African counterparts on infrastructure development in Africa and other topics, highlighting the African elements of the BRICS grouping.

BRICS was originally BRIC comprising Brazil, Russia, India, and China. South Africa joined the bloc at the 2011 summit in Sanya, China, which expanded the geographical representation of the bloc and added African elements to it.

Both BRICS and African countries attach great importance to the summit in Durban, and hope to grasp all opportunities to promote all-round exchanges and cooperation.

In terms of political cooperation, as the world moves further toward multi-polarization and the overall strength of emerging market and developing countries increases, BRICS and African countries will be able to make great joint efforts to promote the establishment of more just, democratic, and balanced international relations if they build up mutual trust and continue close cooperation.

In terms of economic and trade cooperation, BRICS' trade with Africa and direct investment on the continent will grow three times in the next five years, and the bloc's trade with Africa will account for one-third of the continent's total trade volume five years later, compared with one-fifth in 2010, according to forecasts by related African institutions.

Read the Chinese version: “金砖热”交融“非洲热”, source: People's Daily, author: Tian Xuejun

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