https://sputnikglobe.com/20230822/trade-within-brics-topped-762bln-in-2022---south-african-president-1112797075.html
Trade Within BRICS Topped $762Bln in 2022 - South African President
Trade Within BRICS Topped $762Bln in 2022 - South African President
Sputnik International
The trade between the BRICS member states reached $762 billion in 2022, with foreign investment playing a major role in the growth of the bloc's economies, South African President Cyril Ramaphosa said on Tuesday.
2023-08-22T18:18+0000
2023-08-22T18:18+0000
2023-08-22T18:18+0000
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"As we celebrate the 15th anniversary of BRICS, trade between BRICS countries totaled $762 billion last year. Foreign investment has played an important role in the growth of BRICS economies. Total annual foreign direct investment into BRICS countries is four times greater than it was 20 years ago," Ramaphosa stated during the bloc's annual top-level summit, which is taking place from Tuesday to Thursday in Johannesburg. The economic growth of BRICS countries "must be underpinned by transparency" as well as "be compatible with a multilateral trading system that supports a developmental agenda," the president of South Africa, which chairs the bloc in 2023, noted. BRICS's New Development Bank is leading the way in this area as it has demonstrated ability to mobilize resources for infrastructure and sustainable development in emerging economies ever since its establishment in 2015, Ramaphosa added.
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Trade Within BRICS Topped $762Bln in 2022 - South African President
MOSCOW, August 22 (Sputnik) - The trade between the BRICS member states reached $762 billion in 2022, with foreign investment playing a major role in the growth of the bloc's economies, South African President Cyril Ramaphosa said on Tuesday.
