Members of the BRICS bloc –- Brazil, Russia, India, China and South Africa –- need to work in solidarity to fight the COVID-19 pandemic, South African Minister of Trade, Industry and Competition Ebrahim Patel has said.
“Solidarity and working together is critical in fighting a pandemic. And, as the pandemic is still with us, we need to now further strengthen the solidarity between ourselves,” Patel said at the 10th BRICS Trade Ministers Meeting on Thursday.
The meeting focused on responses to the coronavirus pandemic, the strategy for the BRICS Economic Partnership, the Multilateral Trading System and other key areas of cooperation among the member countries.
The minister said the COVID-19 pandemic has highlighted that the benefits of highly integrated supply-chains come with enormous vulnerabilities of disruption.
“African countries are learning the hard lesson that if we are simply exporters of raw materials and importers of medication, medical equipment and other critical goods, then our ability to ensure protection of citizens in moments like these, is compromised,” Patel stated.
He added that building resilient and diversified supply-chains must include building domestic manufacturing capabilities.
“An inclusive supply-chain means that manufacturing capacity is diversified across countries and South Africa, and indeed the African continent, is ready to expand production for both existing product lines and new product opportunities,” Patel said, adding that this would not entail disengaging from global trade, investment and cooperation.
“However, we do not think it wise or the right time to consider new binding global or plurilateral rules in haste at a time of such crisis. We need to retain flexibility to respond with all available policy tools to address the crisis and effect economic recovery,” Patel said.
