South Africa more than just the recipient of investments, says Davies
Trade and Industry Minister Dr Rob Davies and Bell CEO Gary Bell
Photo by African News Agency
The handover of a 40 t dump truck to a Russian company at the seventh Brics summit in Ufa illustrated South Africa’s ability to do more than simply receive investments, Trade and Industry Minister Rob Davies said on Wednesday.
“We are not just potential recipients of investments but we are also investors,” said Davies.
During the Ufa, Russia 2015 Brics (Brazil, Russia, India, China, and South Africa) summit, Davies discussed the handover of the dump truck – the product of a partnership between prominent South African equipment company, Bell, and Russian company, Nefaz.
The “dump” part of the truck was made in Russia and, at the handover, carried the wording “Made in Russia”. The rest, said Davies, was made in South Africa, symbolised by the words “Built with Pride in Africa”.
Bell group chief executive Gary Bell was also present at the handover along with his Russian counterpart Nikolay Pronin.
Bell said the six-month partnership between the South African equipment company and Nefaz was “converting all that talking into action”.
“For a number of years we have been shipping equipment here but this will see us getting a bigger slice of the Russian market,” said Bell.
The Brics Ufa summit, according to Bell, had thus far been a platform for many discussions between the five member states. Russia and South Africa, through Nefaz and Bell, had taken the next step, taking advantage of opportunities presented by Brics membership.
“Overall, Brics provides all of the five nations with opportunities,” said Bell.
“It can really add value”.
Bell said there remained areas of concern which needed to be addressed, such as the reduction of trade barriers.
Discussions between heads of States, governments, and respective business communities would continue until Friday, July 10.
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