South African President Cyril Ramaphosa called on the expanded BRICS group to increase investment in the sphere of production and added value. He noted that the expansion of the bloc opens opportunities for the Global South to build a more resilient, diversified, and comprehensive economic future.
These statements were made by Ramaphosa on Friday during the BRICS Business Forum Leaders' Dialogue on the sidelines of the 18th BRICS Leaders' Summit in New Delhi, according to information from the Presidency of South Africa.
Ramaphosa emphasized that developing economies must move beyond their traditional role as commodity suppliers and deepen productive ties within the expanded BRICS. He stated: 'For us, this is an opportunity to shape a more resilient, diversified, and comprehensive economic future for the Global South.'
The President recommended directing investments towards industry, resource beneficiation, industrial technological solutions, energy systems, infrastructure, and logistics. Furthermore, companies should invest not only to gain market access but also to create production capacities and develop local competencies.
Drawing attention to the serious challenges facing the global economy in recent years, the president stressed that resilience is not merely the ability to withstand disruptions, but also the capacity to transform these disruptions into new partnerships and opportunities.
Cyril Ramaphosa also proposed that the BRICS Business Council function not just as an advisory forum, but as a mechanism for forging commercial ties and productive partnerships. He concluded: 'The question is no longer whether BRICS has potential, but whether we have the ambition, tools, and partnerships to transform that potential into economic value for our people.'