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South Africa: BRICS' allure greater than EU's

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Tuesday, 27 March 2012

South Africa: BRICS' allure greater than EU's

According to a statement released by the Union of South African Businesspeople,  economic ties of South Africa with the rest of members of the BRICS (economic alliance of Brazil, Russia, India, China and South Africa ) appear to get higher and more profitable development than with EU countries.
While the South Africa’s trade’s activity with BRICS partners increased  by 108%, with the EU only did by 12% , in the same period, 2007-2011. On March 28 and 29, BRICS will hold a summit in New Delhi,  India. One of the topics to discuss will be  the possibility to create a common development bank. This idea, which was proposed by India during a meeting of the BRICS finance ministers and central bank chiefs in Mexico,  will follow a  further scrutiny at the BRICS summit.

Source: The Voice of Russia