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Summary DVA3701 - Development Theories (DVA4801)
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The BRICS initiative is an economic and diplomatic partnership of Brazil, Russia, India, China and South Africa. This strategic bloc was formed in 2009 and provides its members with the opportunity to work together towards greater economic and diplomatic objectives. South Africa is the most recent ...

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  • February 13, 2023
  • 1
  • 2022/2023
  • Summary

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Discuss the BRICS initiative and South Africa’s role in it, and how the initiative can help advance the
development of the global South



The BRICS initiative, which stands for Brazil, Russia, India, China and South Africa, is a strategic
partnership between the five countries that seeks to promote economic growth and development in
the global South. South Africa's role in this initiative is to provide access to resources and markets
that can help foster economic growth in the region. The BRICS initiative has been successful in
promoting investment and trade between the five countries, as well as providing access to new
technologies and resources that can help spur development. Additionally, the initiative has also been
successful in promoting regional cooperation and collaboration between its members. For example,
the BRICS countries have established a joint venture fund to promote investment opportunities in
Africa. This fund can help provide capital for businesses looking to expand into African markets.
Ultimately, the BRICS initiative provides an opportunity for developing countries like South Africa to
benefit from increased economic growth and development opportunities.

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