Today is the official start of the 5th BRICS Summit in Durban and Wesgro is here flying the flag for the Western Cape to the world.
BRICS is acronym for the association of the emerging markets of Brazil, Russia, India, China and South Africa. Originally called BRIC, South Africa was included in 2010, an indication that we were becoming a strong economic force.
The aim of the summits are for these nations to seek common ground on areas of importance for these economies. This year's summit will focus on the formation of a development bank for the BRICS nations with possible inclusion of other emerging markets. Another issue on the agenda is the role BRICS will play in the infrastructure development and industrialization of Africa, which was the pledge made at the 2011 BRICS summit that convened in China.
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