Cabinet announced on Thursday that President Cyril Ramaphosa will address the nation on the “successful” fifteenth yearly Brics Summit and other important matters.

Last week, Ramaphosa hosted the three-day summit in Johannesburg, the first such summit to be held since the emergence of the Covid-19 pandemic and the subsequent global restrictions.

Leaders of the Brics – Brazil, Russia, India, China and South Africa – nations reached a consensus on the Johannesburg II Declaration.

The declaration highlights inclusive multilateralism, peaceful development, mutually accelerated growth, sustainable development, people-to-people exchanges and institutional development.

The declaration addresses ongoing global conflicts, underlines the importance of resolving disputes through constructive dialogue and inclusive consultation, and also calls for fostering growth through partnership.

Cabinet expressed its appreciation to team South Africa, led by Ramaphosa, for ensuring the success of the Summit in content and logistics.

Meanwhile, Cabinet welcomed the signing of various Agreements and Memoranda of Understanding between the South African government and the People’s Republic of China in trade, energy and higher education. 

The China-Africa Development Fund between the Industrial Development Corporation of South Africa and the Bank of China is one of the signed agreements.

Cabinet explained that this Fund would stimulate increased investment in South Africa.

Ramaphosa hosted Chinese President Xi Jinping for a State visit, ahead of the Brics Summit.

The State visit marked the celebration of 25 years of diplomatic relations between South Africa and China. 

Cabinet noted that China is currently South Africa’s largest trading partner.   

“The People’s Republic of China had previously donated emergency power equipment worth R167-million and has since made available a grant of R500-million for development assistance,” Cabinet explained.

Cabinet also welcomed the reopening of the Chinese market for the export of South African beef, in addition to the export of South African avocados to China.

These export opportunities, Cabinet noted, will unlock new opportunities for the country’s local producers, including small-scale farmers.

South Africa is negotiating with Chinese automaker and the world’s largest electric vehicle manufacturer BYD for the possible opening of a manufacturing plant in South Africa.

“This is in addition to the opening of the BAIC manufacturing plant (another Chinese automaker) in South Africa,” said Cabinet.