Summary:
- The BRICS set out to challenge the dominant global order by reforming global governance, reimagining economic development and strengthening ties among themselves and other nations across the global South.
- After more than a decade of systematic cooperation among the BRICS, progress has been made on all core priorities of the bloc.
- While South Africa’s trade and investment relations with the BRICS have grown significantly, these remain shallow relative to those with other partners in Europe and the US.
- Ongoing geopolitical and geo-economic drivers offer South Africa, Africa and the BRICS new opportunities to deepen economic ties among themselves. These drivers include the establishment of the AfCFTA, growing geo-economic tensions between the US/West and China; and the mooted membership expansion of the BRICS.
