The Global Economic Governance (GEG) Africa programme is a policy research and stakeholder engagement programme to strengthen the influence of pro-poor African coalitions at global economic governance fora.
Monday, 02 September 2013 11:55

BRICS – South Africa’s way ahead?

Written by tralac

The accession of South Africa into the BRICS formation has attracted a lot of attention internationally. Some welcomed the step while others questioned it. A closer look at BRICS reveals that these countries share some fundamental features while they differ in others.

BRIC, the acronym, was coined by Jim O’Neill of Goldman Sachs in 2001. The founding members of this political formation are Brazil, Russia, India and China, aligning well with the word formulation. The formation of the BRIC was motivated by global economic developments and change in the geopolitical configurations. South Africa joined the group in 2011, thus opening the possibility of putting Africa on the BRICS’ agenda. South Africa’s admission to the group was motivated by China and supported by Russia. Its accession to the BRICS generated much discussion about the country’s suitability to be part of the formation. One of the real issues raised is that South Africa does not measure up to the other BRIC economies in terms of population, trade levels and performance, and growth rates. A formation such as the BRICS is of value to South Africa only if the country’s strategic development interests (relating, for example, to agriculture) are to be on the agenda. South Africa faces particular challenges related to market access into the BRIC countries.

In 2012, at the annual conference of the Agricultural Economics Association of South Africa, the National Agricultural Marketing Council (NAMC) co-hosted a workshop aimed at establishing a dialogue on how agriculture can benefit from South Africa’s membership of the BRICS. It came out clearly from the workshop that agriculture needs to be better positioned to benefit from the BRICS formation. One important issue that was noted was that market access for South African agricultural produce into the BRICS countries could be improved. In this regard, an honest question was raised whether, as the country’s agriculture stakeholders, we fold our arms and do nothing since this this is a political formation (while market access is an economic issue), or whether we use this political formation to address our socioeconomic issues as they relate to these countries. Market access is one of the issues of interest to South Africa’s agriculture industry within the BRICS formation, together with issues such as the diffusion of technologies and collaborations.

The research that is presented in this book addresses a range of important issues related to the trade and investment relations among these countries. The performance of their agricultural sectors as well as trade amongst these countries is also examined. There is also focus on the relationship between BRICS and Africa, and what this means for South Africa’s trade relations with other African countries.

Published 2013 by the Trade Law Centre, National Agricultural Marketing Council, Royal Danish Embassy, and Swedish Embassy, Nairobi.

Download PDF: Part A [3.28 MB] – Opens in a new tab
Download PDF: Part B [2.68 MB] – Opens in a new tab

Read 3144 times