Durban Hosts 5th BRICS Summit:

Once again, Durban proudly hosted another prestigious international event, the 5th BRICS Summit held at the International Convention Centre (ICC) on the 26th -27th of March 2013.

This was the last in the first cycle of BRICS Summits to follow, with it’s theme titled BRICS and Africa: Partnership for Development, Integration and Industrialisation. BRICS is a partnership consisting of five developing nations; Brazil, Russia, India, China and South Africa with the intention of addressing the challenges of employment, skills development, energy, food security, water security and the promotion of sustainable growth through trade.

One of the decisions made at the summit, was an agreement to establish a BRICS development bank that will finance long-term infrastructural projects within the BRICS nations. Although not enough information is available yet on the leadership, location, financial and operational plans for the institution, the bank is expected to mainly prioritise three things; responding to urgent needs of the developing nations, to bridge financing gaps and provide financial access to small and medium enterprises; and to provide financial support towards infrastructure projects.


A number of pre-BRICS summits were also held in the City. Some of these included the BRICS Africa Dialogue Forum and the BRICS Academic Forum. The Academic Forum held on the 10th -13th of March 2013, signed a declaration of intent to establish the BRICS Think Tanks Council. Think Tanks will encourage the exchange of ideas amongst researchers and academia from research centres in the five nations.


For more information on the summit, please visit: http://www.brics5.co.za. Please also view documents attached below which you may find useful.

 

Durban Business Fair Economic Impact Assessment Study:

EThekwini Municipality’s Business Support, Tourism and Market units hosted the 14th Annual Durban Business Fair from the 18th to the 21st of September 2012.

An economic impact assessment study on this event was released in March 2013, to give a better understanding of it’s outcomes and to determine the way forward in maintaining a high standard for future business fairs.

The objectives of the Business Fair are to provide a networking opportunity to SMMEs and create a platform whereby the local economy understands the challenges facing business support agencies and structures; and to promote SMME goods and services, as well as their potential.


Please view the impact assessment study report here