Black Business Council to promote SMEs in BRICS regions


The Black Business Council has parted ways with Business Unity SA.

JOHANNESBURG – A business delegation led by the president of the Black Business Council (BBC), Danisa Baloyi, will be visiting Russia and China from Thursday to promote trade and investment in South Africa.

The 21st St Petersburg International Economic Forum (SPIEF 2017), which will take place from June 1–3, will be addressed by among others Klaus Schwab, founder and executive chairman of the World Economic Forum.

Schwab will speak on leadership in the fourth industrial revolution. The forum will also discuss how BRICS (Brazil, Russia, India, China, and South Africa) can boost economic cooperation.

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The conference aims to bring together nearly 1,000 SMEs from BRICS countries and the world at large for matchmaking meetings and conduct a series of activities to strengthen trade and financial cooperation among BRICS businesses.

Baloyi will lead South African SMEs for “cross-border matchmaking” aims.

Deputy minister of trade and industry, Bulelani Magwanishe, will address a session focusing on the possibilities for initiating a new level of industrial and technological cooperation, and the support the New Development Bank can provide for projects implemented within the BRICS economies.

Baloyi and Magwanishe will also participate in a panel discussion that deals with Russia and Africa, “A Structural Approach to Cooperation in the New Economic Reality”.

Baloyi will also attend the “2017 BRICS High-tech SME Cross-border Investment and Trade Cooperation Conference” in Tianjin, China next week.

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