Brazil, Russia, India, China, and South Africa (BRICS) leaders have agreed to expand the alliance with more countries expected to join the group.
The BRICS 2023 Summit which kicked off Wednesday at the prestigious Sandton Convention Center will close today.
More countries are reportedly seeking to join the BRICS New Development Bank in 2023 with a focus on local currency lending.
The Shanghai-based BRICS lender aims to lessen its dependence on the US dollar, according to Reuters.
More than 40 heads of state traveled to take part in the gathering, with many seeking an answer to the potential expansion of the bloc.
Uganda’s Vice President, H.E (Rtd) Major Jessica Alupo, is representing H.E President Yoweri Museveni.
The 15th BRICS Summit holds great significance for Uganda, especially at a time when the World Bank suspended future financing for the country.
This gathering of global leaders provides an invaluable opportunity to engage in productive discussions on various matters of mutual interest, notably focusing on economics, trade, and sustainable development.
Vice President Alupo’s participation in the Summit underscores Uganda’s commitment to fostering closer ties and pursuing collaborative partnerships at the regional and global levels.
She aims to actively contribute to initiatives that promote inclusive growth, innovation, and the overall well-being of our people.
During her stay in South Africa, Vice President Alupo will engage in bilateral meetings with leaders from other member states of the BRICS alliance.
These interactions will explore further prospects and avenues for enhanced collaboration in sectors of mutual interest, such as trade, investment, agriculture, infrastructure development, energy, and technology.
The Vice President’s presence at the 15th BRICS Summit marks a significant milestone in Uganda’s diplomatic efforts and emphasizes our dedication to advancing the nation’s economic and socio-cultural aspirations.
Ms. Sarah Kagingo, the Vice Chairperson of the Private Sector Foundation Uganda (PSFU) Board, said she was pleased to “represent Uganda’s private sector at this momentous summit”.
“Insightful conversations at the summit themed: ‘BRICS and Africa: Partnership for Mutually Accelerated Growth, Sustainable Development, and Inclusive Multilateralism’,” she noted.
The opening session was addressed by South African President, H.E. Cyril Rhamphosa, where other Heads of State also delivered their statements.
“One of the key announcements is that the BRICS will be expanded to the BRICS+ model enabling other countries to join,” Kagingo stated.
The opening ceremony was preceded by several private-sector business sessions, including: accelerating infrastructure development through Government – business / private partnerships, BRICS Airlift Strategy, embracing the digital economy for transformation and advancement, Oceans Economy – promoting trade connectivity, skills for emerging and future jobs, role of capital markets in driving sustainable economic growth and BRICS Manufacturing Forum, among others.