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South Africa is one of Russia’s leading foreign trade partners in sub-Saharan Africa.
Goldman Sachs economist Jim O'Neill predicts BRICS will collectively represent 31 per cent of global trade by 2020.
Pretoria says it is also concerned about the increasing number of rockets targeted at Israeli cities.
The decision on the location of the BRICS Bank will not depend on financial muscle, says South Africa.
South Africa is backing a single influential continental force that will respond to conflict and crises in the continent.
Peace and security in Africa is expected to be on the top of the agenda of discussions after a Kenyan terror attack heightened tensions.
President Zuma vowed to “jump start” the economy which is struggling in the face of a protracted mining crisis.
Zuma once again reiterated the urgent need to jolt the country back to growth.
The AU needs to urgently activate its peace and security architecture, said the South African Foreign Ministry.
The government, has however, announced a mining package to “alleviate the socio economic impact” of the crippling strikes.
