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Saturday, November 01, 2014
Martyn Davies, CEO of Johannesburg-based emerging markets consultancy Frontier Advisory, says the addition of Indonesia would extend the alliance’s reach into Southeast Asia.
In Durban, South African President Jacob Zuma is expected to use the occasion to dispel any doubt about his country’s place in the grouping.
Analyst Chris Gilmour of ABSA Investments points out that the country’s growth compared to other BRICS countries is very low.
Amongst the BRICS initiatives that may make some progress in Durban is the concept of a BRICS bank, where members would pool foreign reserves to support a fund for members and for other developing nations. /IPS (END//2012)