Ramaphosa urges BRICS local manufacturing boost
Ramaphosa called for deeper productive partnerships and greater value creation among BRICS nations.
President Cyril Ramaphosa urged the BRICS nations to prioritize the development of local manufacturing industries during the opening of the 18th BRICS Summit in New Delhi, India. He emphasized the need to transition beyond the role of raw material suppliers and consumers of foreign-made goods. Ramaphosa highlighted the potential of shifting global trade patterns, technological advancements, and climate challenges as opportunities for BRICS to create a more resilient, diversified, and inclusive economy.
He called for deeper productive partnerships and increased value creation among the member countries. Ramaphosa stressed that the BRICS council should not merely serve as a consultation forum but as a mechanism for fostering commercial relationships and productive partnerships. He noted that the group finds itself at a pivotal moment as the global economy undergoes significant changes due to shifting trade patterns, rapid technological advancements, and increasing climate pressures.
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