Johannesburg, July 26 (IANS) The opening session of the 10th summit of world’s leading emerging markets of Brazil, Russia, India, China and South Africa (BRICS) kicked off here on Thursday with a call for improved partnership to boost industrial capacity in Africa.
South Africa is hosting the BRICS Summit under the theme of “BRICS in Africa: Collaboration for Inclusive Growth and Shared Prosperity in the 4th Industrial Revolution”.
BRICS leaders and business delegates, including members of the BRICS Business Council, were present at the opening session of the summit, expected to rally behind concerted efforts to revitalize Africa’s industrialization agenda, Xinhua news agency reported.
South Africa is hosting the BRICS summit for the second time and is expected to leverage on that privilege to push for increased trade, investments and skills transfer between emerging markets and Africa states to advance shared prosperity.
The hosting of a BRICS Summit in the African soil comes in the wake of rapid diversification of the continent’s economies through manufacturing and value addition.
African countries are keen to tap into capital, technology and expertise from BRICS countries to promote advanced manufacturing that lies at the heart of economic transformation in the continent.