CAPE TOWN, Nov. 20 (Xinhua) -- The South African government on Tuesday pledged its commitment to the BRICS goal of growth, sustainable development and prosperity.
"BRICS is a platform for dialogue and cooperation amongst countries that represent 43 percent of the world's population," said Minister of International Relations and Cooperation, Maite Nkoana-Mshabane.
"The platform strives to promote peace, security and development in a world that is multi-polar, inter-dependent, increasingly complex and globalizing."
South Africa and its fellow BRICS partners -- Brazil, Russia, India and China -- share a common vision to enhance economic growth, employment, fight against poverty and the economic transformation, Nkoana-Mshabane said, adding that the countries also work towards a more equitable global political and economic system.
The minister also announced that South Africa will host the fifth BRICS summit with a theme of "BRICS and Africa-Partnership for Development, Integration and Industrialisation" in March 2013 in Durban, KwaZulu-Natal Province.
"Our combined nominal gross domestic product (GDP) is estimated at 13,7 trillion U. S. dollars and between 20 percent and 25 percent of global GDP, as well as combined foreign reserves estimated at 4 trillion dollars. BRICS accounted for approximately 11 percent of global annual foreign direct investment (FDI) flows in 2012 (465 billion dollars) and 17 percent of world trade," she said.