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On the occasion of the BRICS Summit, the BRICS Member countries will launch the BRICS Business Council. Each BRICS Country will nominate five members that are leaders of respective business organisations or sectors that will make up the Business Council.

The Minister of Trade and Industry, Dr Rob Davies says that the Council will constitute a platform to strengthen economic ties, trade and investment between the business communities of the five BRICS countries.

Minister Davies stated that this will provide technical support, consultative advice and facilitate the implementation of multilateral business projects.

According to the Minister, the BRICS Business Council will focus on specific areas.

"These areas include promotion of trade and industry and business cooperation, technology transfer and development, tapping business opportunities in third countries and multilateral business, advisory role, cooperation in the fields of manufacturing, infrastructure, banking and financial services, green economy, skills development and training and small and medium enterprises," said Davies.

The Minister added that the Council will have regular dialogue between the business communities and the five BRICS governments.

"The BRICS Business Council will also constitute sector working groups and will submit an annual report to the BRICS Leaders during the Annual BRICS Summit," said the Minister.

Within the context of the establishment of the BRICS Business Council, South Africa has nominated the following persons as it representatives: Mr Patrice Motsepe, Chairman, Ms Nomaxabiso Majokweni, Mr Sandile Zungu, Mr Iqbal Surve, Mr Brian Molefe and Stavros Nicolau will serve as an alternate.