BRICS Business Council is launched

Business participants supported a permanent council to deepen investment, trade and economic contact among the five countries.

The first summit held in Africa focused on partnership for development, integration and industrialization and completed the first cycle of five host countries.

Leaders pledged support for African infrastructure and integration alongside international institutional reform.

The Durban statement moved from a feasibility study to an agreed plan for a bank supporting infrastructure and sustainable development; the founding agreement followed in 2014.

The five governments advanced work on a mutual financial safety net for short-term liquidity pressures; a treaty was signed the following year.

Leaders endorsed a continuing network of research institutions to inform cooperation and exchange knowledge.

The BRICS–Africa Dialogue Forum discussed infrastructure and regional integration, widening engagement beyond the group’s five members.

Representatives of the five countries met near Stellenbosch to develop cooperation following the council’s establishment in Durban.

The forum addressed city planning, sustainable urban economies and exchanges among member countries.

At Kleinmond, ministers discussed a cooperation framework in fields such as food security, energy, health and technology transfer.