Brics bloc brings new dynamic

envision and work to realise a more equitable global political and economic system,” she said at a business breakfast in Johannesburg hosted by The New Age newspaper.
Brics refers to the Brazil, Russia, India, China and South Africa group of large emerging market economies.
South Africa joined Brics to advance the country’s national interests, and promote regional integration and continental development.
Brics, with 43 percent of the global population, contributed 20 to 25 percent of global GDP, and 11 percent of annual foreign direct investment in 2012.
Regarding petrol tariffs, the minister said South Africa was not insulated from the changes in the global oil price, controls and speculation that occurred in the market. — fin24.com.