files that aren't going to stop any time soon. the the hello as a very welcome to aspects hockey, that were taught studios in the heart of johannesburg. now we've come all the way to south africa to bring to you all the latest updates from the 15th brick summit on the t, aaron, and our new waco. and we're going to visit with you today tomorrow and the next day . with all the top me things with the top delegates send all up pretty in guests as well. when did you all that inside of expertise and say, well, if they expect to come out of the break summit. now we still have this special coverage, which is underway in south africa bringing you all the latest one. these are very much the anticipated to happen a single event south africa's trade in the industry. minnesota area. welcome to

delegates, taking part of the summit, reaching them in the languages of the 5 bricks member states. to all of you. so born or law, 3 viet now must a need how to all of you. a special rel come to this province of halting the the well, the meanwhile south african presidency around a pose, a house, a joint, and use conference with chinese president. she seemed picks the 2 countries have signed. abram, a random of understanding and an agreement on cooperation in the field of higher education correspondence all over the show up. and the guy turn gay and come up with a lot of both the brick summit showing the details on what was happening right now would be events. let's take

a listen. this is 2023 and it marks the celebration of 25 years of diplomatic relations in south africa as well as china. south africa is 10 of the biggest trading talking on the continental and very important include points into the rest of the continent this year. with china will also form part of the talks on the sidelines, breaks along side 30 kids of faith from the continent and not just south africa, which is something that south africa is already valued, that they should take africa with them and arrive as they the lead now, one of the things that you'll see with regards to this particular meeting between uh, she's in pain and sort out on the plaza, is that this is using things for the state, visits she in south africa and on the 4th the visit. trade relations are very important to discuss between the 2 lead us and how they can narrow the trade

deficit between south africa in china. and one of the ways in which this meeting will be looking into remedying that situation is trying to get them all south african goods into the chinese market. and that is something which will take a lot of willingness from china in order to make that happen. but the to need is i also need to run going to form a type of the leadership of all the brakes which will be receiving the business. 3 console is report on the last 10 years. as you know, the business council really has come up with things like the brakes business, the bricks development bank. they have really seen trade shoots through the roof. as south africa, for instance, says loud trades, more with bricks than it does with any of the, of the brookings, that you find in the global sphere. and it has really come to form an important part of west south africa once it's development to lead. but the mode here, as we understand,

is quite jubilant. and you can see it upon the streets. you can see it everywhere that people are really happy to be here and can see representatives of the 5 countries. she and that is the friendship that settled. i'm a plus that speaks about when he spoke to the chinese lead us using thing area. and here is sort of what i'm a part of. the purpose of this writing table is to further deepen cooperation between china and the african continent on metro self development, industrialization, and the integration of african economies. the friendship that exist between our 2 countries is living proof of what you set out in our freedom chart. and that is the plus i really speaking to the chinese leadership, but really begin to the wide up audience that will make up the bricks, meeting and some of the 15 say the state here in johannesburg. and as we get closer

to the time and we can see there's a heightened sense of security, but also a heightened sense of expectation into what could be the announcements that emerge out of the 15 big summit. certainly can hear the sense the buzz there. let's go now to new video, you're closer to the event. so i understand that happening at the stomach. can you bring us the latest? of course, to just to reiterate, to emphasize on what to call it. the hesitancy, and especially on the information that we have on the streets of south africa. as i've said before, this is a very different and historical time, a moment for us that africa as opposed to the segments. but then of course of this sudden, which comes in a very difficult time is false. um, i missed conversations about political changes and those do political tests has been seen huge way on the prospective announcements and promises and works off of the bricks of blankets. and i guess one of the conversations around the view

opinions that have been making rounds, which is the fact that to the greeks block was established to beach arrivals of g 7 and the so that because the document has not taken that july and it has made clear and emphasized that the breaks the block was not established. it's to be a competition with large economies in the g 7 countries in states. it is cementing its own case in the deals, economies and geo political space within the world. and i can almost 22 countries that have approach which the brick supply could to join the country, the them, the families of the 5 nations and a 22 or rather more than 22 of those of the countries have not only made a request to but we all off the understanding that to these and the code number that has also informed each of them to try to, to show interest in joining the brakes block. and that was according to the brick syrup. i know so clearly i guess all of this,

if the asset type in the interest speaks to the kind of strong cooperation that the bricks need is good to emphasize and preach about that. in fact, that she has the prime minister of india, giving us the executive that breaks has been pursued a strong corporation agenda across various sectors. we value that breaks has become a platform for discussing and deliberating on issues of concern for the entire global self, including development, imperative, and reform of the multilateral system. the summit will provide a useful up with cdc for breaks to identify future areas of cooperation and reviews to do single development that the private, the i gave those kinds of conversations on what exactly we are expecting to engage on and listen to each as the, especially for more the previous uh, representative and the officials will also so a, the, the, the define of foreign minister off of russia save a lot for over. i'm arriving in so africa,

which he's um hating the russian dedication, add to this week a break. so i mentioned again, the big summit is expected to pay wait for lots of conversations amongst those conversation is of course with the influence of movie towards the, during the reservation, the expansion of the big block. and many of the issues that continues to affect these brief explanations, but also the applicant continued just as of course, with the theme off of this. yes. fantastic correspondence that now we of course going to continue to bring do all the latest updates from this so much for the i know we know that what you really wants to see what's going on inside that building that this sentence, how is where all those v i p's on these things, so let's take you long span now, and sees. today the business community spend the full morning is in deep discussion about investment, about trade and about technical corporation. it is my pleasure,

therefore, to invites mr. sim, shut by law. the ceo of the stand, the bank group of south africa, to summarize the main outcomes and give you some reflections. and i invite some to take zip code podium please, you have the floor. thank you very much. indeed, mr. minister for that kind of introduction to your excellence these ladies and gentlemen. it's a tremendous privilege to present this high level feedback on the bricks business for them. 2023 today, guided fights theme of making, accelerate the growth and sustainable development a reality. the bricks, business for him has helped shop the commercial and hardy dynamic sessions, attended by and company is policy made because business people and indeed academics

from across a number of the member countries and beyond. talking of commercial dynamism as the minister as a lead it, it is a fitting that the bricks, business for them is taking place right here in sentence. here in john, his book, the capital of hell 10 to 10 generates about 55 percent of south africa's g d p. and the large portion of that is generated right here. and it is generated by saw that because sophisticated and successful, large corporations, medium sized enterprises and the destiny this year, for instance, spend of banks and of the spring. that's how best we can list that equities will deliver average endings, percent growth of between 15 and 20 percent us to put it in perspective. either emerging markets or looking at minus 3 percent for the same periods. and tools here

for basic and corporations, relationships, travel, history and trade. in the words of the stuff patel all have the good fortune, ladies and gentlemen and great on of speaking this morning on a panel which i mention of the state corporation of china as well as mister ricardo sent and president of the president association of animal protein they spoke about the climate change and renewables. words cannot describe the profundity of that movement. as it happens, it was a sub african bank, my employer, the standard bank, which was the sole financial advisor to the state. good corporation of china. and it's 1800000000 brand acquisition of 100 percent ownership of 7 power transmission companies in brazil in 2010. i mentioned this admittedly because it illustrates that so that's a corporate expertise and connections are an important part of making bricks into

an ongoing commercial reality. self advocacy with india has its fair share of challenges, and i would rate unemployment and even quality as the deepest and worst of these. the wealth of sentence is within easy walking distance of the deep poverty of alexander, a painful contrast that can be found in one of the bricks countries. but one that is also highly conducive to innovation in the service of intrusion. for instance, to start us, we can use the present in financial services innovations that you've heard about today. sound a little too familiar. so there are serious challenges here in south africa. but you also have your main strengths and competitive advantages, as well as the corporations that i've mentioned. these strengths include us from zillow for me, which guarantees the contracts will be observed and the commercial disputes will be

settled said. they include our freely floating currency, open capital account, explain these skillful and credible central banks, and deep and liquid capital markets. these guarantee that returns on investment all and will remain quickly accessible in the currency of the invest balls choice. more competitive advantages arise from what a chinese panelist quotes are best because celebrity product since the president which included why boss t one and unique tourist experiences. this brings us to another also that because strength, which is the best because openness for the business and tourist traveler people from one of our major trading partners, interest of africa, i have a visa, free, or with an easy for the liberalization of travel. and great time card

encouragement of a link between the bricks, countries and our major trading partners. you certainly warranted perhaps above all so that because competitive advantage emerges from a well developed trade and investment network with the federal africans, china as indeed africans largest trading partner. what is sometimes missed, however, is that some advertising is the 2nd largest exporter to the rest, the 5 beloved continents, and its 4th largest import department. of course, investors from the bricks and worldwide, to very much once to buy in for africa. given the confidence uniquely favorable demographics, humans, natural resources, potential for low cost industrialization and increasing market integration of africa, continental fee trade area. for these reasons,

according to the full costs and on current trends, it is likely that's ups or in africa will be the fastest growing region of the world by 2030 spend our thanks analysts for see the inter africa trade could double and the f, c, f t a and that there would be a $3400000.00 investment opportunity in africa infrastructure emerging from this rapid growth. the bottom line is simple. if investors from bricks and worldwide one to buy into f because enormous growth potential, the place to start is right here in the swim model center. today's discussions have examined current into ritz trade and investment trends and explore tangible solutions to i'm looking for the trade in investment opportunities in the bricks, nations and world wide. given that the bricks, nations are

a good cultural power houses. every cultural production and trade with discussed in detail with many useful comparisons contrasts and cos learnings emerging. participants were formed of the view that much room exists for improvement across the bricks. nations regarding agricultural trade and market access. the same is true of africa in general. given the investments and the rock policy environment efforts, i can become the big boss but of the world's doing this tension. what was the tip a cold the african century? another important topic was the just from susan participants argued. it just transitioned refers to shifting towards a sustainable and inclusive economy, characterized by both social equity and environmental sustainability as renewable

energy is an enormous opportunity for public sector collaboration and private sector investment and trade. right across the bricks. and beyond this, the more fund company is ship future have strongly a vibrant as a new sector is often the most efficient way to create jobs and some as it needs becomes unicorns and even marty mountain nationals such as b, y b and $0.10 of china of course, for this to happen, countries need favorable business environment, strong education systems, and the appropriate financing institutions. participants further argued the opening up market access to and company is across all brits presents and exciting opportunity to force the trade and job creation. and this online, and this again highlights the value of strong traveler links and appropriate users

use within the general fee more fund company a ship. there was much discussion of the road of fanatics, an area in which bricks countries i've already established a great deal of expertise and success on finance for us. and these participants pointed out correctly. that's spelled ups all particularly vulnerable to sudden and shop and pieces and interest rates. one of the roles for defies therefore, is to provide concessional and patient capital for promising as it needs to use central pre conditions for a financial system that he's able to support both micro enterprises and low income households or the democratization of thought to and universal access the stable and credible form of identification india has led the developing world and both access

to data and i. d. s. has result in africa kenya's rather than sustained growth, as also be powered by significant pioneering use of mobile phones to create universal access to finance. the forum discussed the international payments, assuming some detail from an african point of view. a highlight of this conversation was the discussion of the pen african payment system payment system, which has immense potential to stimulate the trade and growth by increasing the spend uncertainty and reducing the costs of across the board of payments in africa . participants also debate the question of where the, whether it breaks, currency is possible, or even desirable, was from views expressed oh, for and against. with little consensus being reached, seen from

a bank of perspective, the debate probably progressed more fruitful if the discourse maintained a sharper conceptual distinction between international payments on the one hand, and reserve currencies on the other. for example, and as an example of the pets illustrates, under certain circumstances, it may be possible to simplify international trade and that tendon payments using a collection of domestic tendencies without any reference to any international does of currency. it's also important to be realistic about the necessary characteristics of an international reserve currency. these include being a car and so you should buy a central bank with the heart credibility in the implementation of monetary policy being the car and see your face space or supranational entity with an equally strong track record or fiscal policy and meeting it's bits being freely available

in large quantities and managers, fictions, and full converse ability at all times, as this set of characteristics could not be quickly wished or agreed into existence, but can only merge over multiple of us as a track record of impeccable credibility. and v y to use is both up front of the floor and also hood of the pleasing progress that is being made in institutional development. setting upset specific work streams which allow for concentration and focus on areas of common interest in infrastructure, manufacturing, energy, and financial services inclusion. today's discussions they've been a very useful step in further unlocking the men's potential for trade and investment amongst the bricks member countries. thank you ever so much for your attention. i'd like to

think uh some shovel i left with that report and be off of the business community. i'd also like to welcome a large number of his team. the guests and delegates, members of cabinets from a number of different countries. it's of the biggest business gone. so chapters invested as an i commission is it's not my pleasure to invite the president of the public of south africa all host with inspired us with a vision of africa and have place in the world. please welcome his excellent see president settle my time in the but i'm a pause. the thank you program director mendez so they brought him patel.

you know, excellence, the president with the silver your excellence, the prime minister. not in dry, morty, honorable the ministers and business leaders and your excellent see, president of the new development band. let's do masters of i agreed to you all and it's a great or not to have this opportunity to participate in this the the session of the bricks for them. i particularly wants to offend mr. sim chubb, along for the report that he has just given and particularly underline and appreciate the message that is coming from all of you. as

a business leaders about the immense opportunities that you see and investment across the bricks, countries. the big group of countries that exist not only to strengthen government to government relations, but also to forward stronger ties between the pose of all 5 nations. it is for this reason that civil bodies have been established since bricks was formed, to enable operation across society. the in business, the political parties, the it and the social sector, and also in the sporting sector or the bricks. business console is

a vital and vibrant platform for strengthening economic ties between our respective countries and, and 14 come on perspectives on inclusive economic growth and development. as we have heard from that report that has just been tabled by mistake chapel, all the changes that have taken place in bricks, economies over the past decade have done much to transform the shape of the, of the global economy to get the brakes. countries make up a port out of the global economy. they account for the 5th of global trade and home to more than 40 percent of the was population. they said globalization of these 5 countries as

a major impact on various aspects of global activity and life. as we celebrate the 15th and the rest of your breaks trade between bricks, countries total, some 162000000000 dollars last year. for an investment has played an important role in the growth of bricks, economies. total annual foreign direct investment into bricks. countries is 4 times greater than it was 20 years ago. however, the new wave of protectionism and subsequent impact of unit election measures that are incompatible with w t. old rules undermine the global economic growth and development. we therefore needs to reaffirm our position or that it cannot make grows must be

under pinned by transparency. by inclusiveness it must be compatible with much let's show trading system that supports a developmental agenda. the type of developmental agenda that the 5 countries that are members of bricks have embrace right from the onset. we require a fundamentally full of the global financial institutions so that they can be more edge, child and responsive to the challenges facing developing economies. in this respect, the new development band established by bricks, countries in 2015 is leading the way since it's formation,

it has demonstrated its ability to mobilize resources for infrastructure and sustainable development in emerging economies. without conditionality and the i before coming into this session, i was speaking to the president of the new development bank and she was outlining to me how ready and willing the new development band is in terms of supporting the development agendas of various countries. and we are proud of this and we appreciate this bricks economies have emerged as powerful engines of global growth. yet that webpage economic, technological, social changes under way create new risks for areas such as

employment. c, farley t as well as poverty in many of the bricks countries it is hi, tucker, want me to hear you as business people as one listened to as the top of a lot of report. also focusing on issues such as poverty reduction and immunization and inequality as well. it isn't often that you hear such very positive and forward looking messages from the business community. so it's wonderful to be in a forum under the ages of breaks that you as a business leaders in june with the developmental agenda that needs to be pursued to lift the people, live in bricks,

countries and beyond. out of the images of poverty in any quality. we therefore call on the business community to join hands with us to identify solutions to these and many of the challenges affecting our respective economies. from a south african perspective, they must've untapped potential for investment in our country and indeed on the african continent as well. and the recognition of this potential . the theme for this 15th brick summit is brakes and our freak up part, bricks and africa partnership for mutually accelerated growth. sustainable development, an intrusive multilateralism africa is a continental.