President Cyril Ramaphosa champions the Global South's right to economic equality at the BRICS Business Forum
President Cyril Ramaphosa has underscored the importance of BRICS member states and invitees taking charge of their economic future. On Friday, during his address at the BRICS Business Forum Leaders' Dialogue, held ahead of the 8th BRICS Summit in New Delhi, Ramaphosa emphasised the need for developing economies to partake equally in global value chains rather than merely serve as suppliers of raw materials.
Speaking to an audience comprising business leaders, entrepreneurs, and investors, Ramaphosa articulated a vision where countries of the Global South can shift from being mere exporters of commodities to robust players in production and manufacturing. "As BRICS, we find ourselves at an inflection point. As the global economy is reshaped, as trade patterns shift, as technological advances accelerate and climate pressures increase, countries and companies are compelled to reconsider where they source, produce, and invest," he noted.
The President's remarks come at a critical time, as South Africa navigates the challenges posed by shaky international relations and seeks to strengthen connections within the BRICS framework, with recent media reports revealing that Ramaphosa is weighing his much-anticipated reply to Donald Trump's demands, amid challenges with United States aid, trade preferences, and strained bilateral relations.
