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ANC calls BRICS "a major force to be reckoned with"

06-26-2012 00:44 BJT

JOHANNESBURG, June 25 (Xinhua) -- The BRICS members have become a "major force to be reckoned with" on the international arena, the South Africa's ruling African National Congress (ANC) said on Monday.

"With South Africa joining the BRICS group of nations, exciting new opportunities arise for the economies of Brazil, Russia, India, China and South Africa," ANC Treasurer General Mathews Phosa told a BRICS colloquium on the sidelines of the ANC Progressive Business Forum being held in Midrand near Johannesburg.

"Enterprises in these countries need to seize these opportunities which facilitate doing business between these countries and opens up new markets," Phosa said.

"Whenever our leaders sit... and sign agreements... it becomes important that we as private sector should make follow-ups, should network, should do the deals."

"Much has been written on BRICS, but much more needs to be spelt out," Phosa noted.

He said there is "a growing view that emerging economies should shape their own future, create their own institutions."

The forum was held in order to inform the corporate community on the objectives, processes and developments with regard to BRICS and to promote enhanced trade and investment in this new economic bloc, according to Phosa.

He said the forum would prepare for the upcoming ANC National Policy Conference later this week which will debate a number of important issues relating to the South African economy. This conference will lay the ground work for policy decision at the ANC elective conference scheduled for December 2012.

Editor:Zhang Jingya |Source: Xinhua

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