Following a recent high-level consultative session in Johannesburg, Advocate Mtho Xulu said that stronger coordination is essential to extract tangible economic benefits from the expanding BRICS alliance.
This will be one of the key agenda items that the SA BRICS Business Council will take to the BRICS Summit in India in September.
Speaking at the consultative session, Xulu said the Council’s focus was on narrowing the current trade deficits among alliance members.
A Stronger Business Agenda
South African businesses are calling for a stronger, more practical BRICS agenda, one that opens new markets, reduces trade barriers, and makes it easier for companies to do business across one of the world’s fastest-growing economic groups.
As global trade patterns continue to shift amid geopolitical tensions, supply chain realignments, and slowing growth in traditional export markets, the South African chapter of the BRICS Business Council (SABBC) believes it is time to move beyond high-level discussions and focus on tangible commercial opportunities.
From Dialogue to Delivery
The SABBC recently launched a series of structured consultative dialogues to strengthen South Africa’s trade and investment ties with BRICS+ countries.
Rather than debating theory, the discussions are designed to identify practical solutions that help South African businesses compete more effectively across BRICS.
Advocate Mtho Xulu, chairperson of the Council’s Trade and Investment Working Group, has stressed that businesses need workable mechanisms that translate political cooperation into real commercial activity.
That means tackling financing challenges, improving payment systems, expanding logistics networks, and making it easier for exporters to access new customers.
The timing is significant. South Africa is expected to assume the BRICS chairship in 2028, allowing the country to shape the group’s future trade agenda.
A Growing Economic Powerhouse
BRICS has evolved considerably since its early years. Following its expansion in 2024, the grouping now represents roughly 40% of global GDP and more than half of the world’s population, making it one of the largest economic partnerships.
Intra-BRICS trade surpassed US$1 trillion during 2025, underlining the group’s importance in global commerce.
For South Africa, the numbers already demonstrate the importance. Trade between South Africa and fellow BRICS members reached approximately US$62 billion in 2025.
Exports totalled US$23.2 billion, while imports stood at US$38 billion. However, business leaders point out that the country’s exports remain heavily concentrated in raw materials and primary commodities, accounting for around 85% of export value.
That imbalance is precisely what the Council hopes to address.
Looking Beyond Commodities
South Africa has long been a major exporter of minerals, metals and agricultural products.
While these remain important economic pillars, they also expose the country to volatile commodity prices and limit opportunities for higher-value manufacturing.
Business leaders argue that South Africa should focus on exporting more processed goods, manufactured products, technology, professional services and specialised industrial equipment.
A more diversified export basket would not only generate higher earnings but also create skilled jobs and strengthen local industries.
The government has similarly identified value-added exports and industrial development as key priorities within South Africa’s broader BRICS strategy
Building Long-Term Growth
The message emerging from the BRICS Business Council is clear: market access must become a practical business reality rather than a diplomatic aspiration.
If South Africa can expand exports beyond commodities, improve trade finance, modernise payment systems and strengthen commercial partnerships across BRICS+, the country could unlock significant new growth opportunities over the coming decade.
For many businesses, the world’s fastest-growing markets are no longer somewhere else. They’re increasingly within the expanding BRICS community.
The challenge now is ensuring South African companies are well positioned to compete, invest and grow alongside them.
