SA to become member of Bricsa -effects

subscriber | 15 November, 2010

South Africa has lobbied hard and furious the past few years to become a member of Bric, the lose alliance between Brazil, Russia, India and China. A membership now seems imminent as Russias president Medvedev has given South Africa his support.

A membership doesn't come with any massive benefits as such, there are a few economic agreements in place that the individual countries probably would have anyway. And there are no trade agreements. But a membership in the exclusive up and coming club does come with a massive amount of prestige.

South Africa's leaders will be able to mingle and do deals more intensely with the leaders of largest, fastest economies in the world.

South Africa would not qualify on the basis of its size, the country is tiny compared with the other member countries, it would qualify as the loose alliances Africa leg.

What's at stake for Bric is that it wants to continue its foray into Africa - and South Africa is the entry point. In that sense South Africa represents the continent in the club.

What does it men for those doing business with South Africa? Probably not much no papper. But it does mean that South Africa's leaders will have more and better contacts with their high-flying Bric counter-parts, which will facilitate contacts between oligarchs, moguls and black diamonds.

Having good relations with South Africa will become an even better idea than before.