JOHANNESBURG, June 1 (Xinhua) -- As global trade tensions and geopolitical fragmentation disrupt the international economic order, South Africa's BRICS Business Council is intensifying efforts to position BRICS as a stronger engine for trade, investment and economic resilience, a senior council official has said.
Mtho Xulu, chairperson of the council's Trade and Investment Working Group, said that the group is pursuing a targeted strategy focused on reducing trade barriers, aligning regulations and expanding the use of national currencies in cross-border commerce among member states.
In a recent interview with Xinhua, Xulu said that the South African BRICS Business Council aims to deepen economic collaboration among BRICS countries while opening broader opportunities for African businesses and entrepreneurs.
"The purpose of the working group is to implement a more targeted approach toward the analysis of trade between the BRICS countries and foster regulatory harmonization to increase trade between member countries," said Xulu, who also serves as president of the South African Chamber of Commerce and Industry.
Enhancing complementarities among BRICS economies remains a top priority, alongside expanding mutual trade and investment opportunities and deepening engagement among investors and entrepreneurs across both BRICS and African nations.
"The group is also looking at developing a BRICS calendar of trade and investment promotion events to encourage joint participation and improve coordination among member states," Xulu said. ■