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In a press release Wednesday, Rob Davies, South Africa’s trade and industry minister said that the Council will intensify cooperation among the five BRICS countries and provide technical support, consultative advice and facilitate the implementation of multilateral business projects.
Davies said the council will constitute a platform to strengthen economic ties, trade and investment between the business communities of the five BRICS countries of Brazil, Russia, India, China and South Africa.
“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,” Davies said in a statement.
During the summit, each BRICS country will nominate five members that are leaders of respective business institutions to make up the Council.