Source: eNCA
26 OCTOBER 2013, 15:08

CAPE TOWN – The department of trade and industry says it wants to use the Brics platform to help boost the local economy and create jobs.

Delegates from Brazil, Russia, India, China and South Africa are currently meeting in Cape Town to discuss new trade partnerships.

The focus is on sharing ideas and learning from the experiences of other countries.

Forging long-term trade relations that will benefit the South African economy.

That’s what the Department of Trade and Industry said it hopes to achieve from this weekend’s Brics Cooperatives Meeting.

Local job creation is a key focus, especially in small business.

“It has been realised throughout the world that what is important is to get the knowledge and skills from those who have done it before. If we look into South Africa, we were lagging behind in terms of cooperative development, especially in the economic sector, not just from a geographical level,” said Sanaco President Lawrence Bale.

The department of trade said facilitating partnerships between cooperatives is important for eradicating poverty, unemployment and inequality.

It believes greater investment in local cooperatives could stimulate the economy.

“We will be establishing the Cooperative Development Agency which will be providing financial and non-financial support to our cooperatives. Also, the cooperative tribunal, which will be dealing with the issues of conflict resolutions among and between the cooperatives,” said Department of Trade and Industry spokesperson Sipho Zikode.

The establishment of a cooperative academy is also in the pipeline to assist in training and developing skills in business management.


Categories: News

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