Zuma to lead Brics Summit delegation to Russia

President Jacob Zuma will lead a South African delegation to the Seventh Brics Summit to be held in Ufa, Russia this week.

Brazil, Russia, India, China and South Africa (Brics) are to be hosted by Russian President Vladimir Putin on Wednesday and Thursday.

International relations minister, Maite Nkoana-Mashabane, said a number of meetings would take place ahead of the summit, including a meeting of the Brics Business Council and its working groups, the Brics ministers of finance and central bank governors, the first meeting of the Brics Board of Governors of the New Development Bank and the Brics ministers of trade and industry.

“The Contingent Reserve Arrangement (CRA) Working Group is set to conclude the procedural rules and operational guidelines of the Governing Council and Standing Committee of the CRA at this summit, and to conclude an Inter-Central Bank Agreement,” said Nkoana-Mashabane.

She said leaders at the summit would also be informed of the status of the ratification process within each Brics country of the New Development Bank Agreement and CRA Treaty.   “The leaders will also witness the signing of various agreements which indicate a deepening of the Brics relationship,” said the minister.
SAnews.gov.za