Opening session of BRICS Summit begins in South Africa amid calls for industrial revival
JOHANNESBURG, July 26 (Xinhua) -- The opening session of the 10th summit of world's leading emerging markets of Brazil, Russia, India, China and South Africa (BRICS) kicked off on Thursday with a call for improved partnership to boost industrial capacity in Africa.
South Africa is hosting the BRICS Summit whose theme is "BRICS in Africa: Collaboration for Inclusive Growth and Shared Prosperity in the 4th Industrial Revolution."
BRICS leaders and business delegates, including members of the BRICS Business Council, are present at the opening session of the summit, which is expected to rally behind concerted efforts to revitalize Africa's industrialization agenda.
South Africa is hosting the BRICS summit for the second time and is expected to leverage on that privilege to push for increased trade, investments and skills transfer between emerging markets and Africa states to advance shared prosperity.
The hosting of a BRICS Summit in the African soil comes in the wake of rapid diversification of the continent's economies through manufacturing and value addition.
African countries are keen to tap into capital, technology and expertise from BRICS countries to promote advanced manufacturing that lies at the heart of economic transformation in the continent.