According to the Standard Bank Group, trade between BRIC nations and Africa increased almost eight times, from $21.9 billion in 2000 to $164.6 billion in 2008. By 2030, this figure is expected to exceed $4 trillion.
In 2010, China overtook the US as Africa's largest trading partner, while Brazil and India currently rank as Africa's sixth and 10th largest trading partners respectively. Among the BRIC countries, China dominates BRIC-Africa trade, accounting for about two-thirds in value.
The positive outlook for BRICS intra Africa trade has been well documented. "Brazil's trade with Africa could triple to $60 billion by 2017," says Roberto Giannetti da Fonseca, head of foreign trade at the Sao Paulo Industrial Federation (FIESP). He also notes that trade tripled to $20 billion between 2004 and 2010.
Trade with other BRIC countries is equally as promising. India's trade with Africa has increased by a massive 1,000% over the last decade, with value currently around $32 billion a year. According to IMF data, Russia-Africa trade reached $3.5 billion in 2009, the smallest volume of the BRIC partners.
"Africa has become a vital market to the BRIC trading bloc," says Stephen Oehley, director of the BRICS Africa portfolio at South African Trade Promotions, one of the event partners. Explaining the rationale for the event, he says, "The dynamics of international trade are constantly changing. This forum keeps industry updated on the latest trends, trade intelligence, products and services and presents real trade and networking opportunities."
"Africa is one of the fastest growing economic regions in the world, with a combined GDP growing at an average rate of 4.5% per annum," adds John Thomson, MD of Exhibition Management Services, organisers of SAITEX and co-organisers of the BRICS Africa Export Import Forum.
"The BRIC nations continue to reap the benefits of bilateral trade. Africa has enjoyed infrastructure development, economic expansion and developmental aid, while the BRIC nations gain access to strategic mineral resources, markets and support from African states at multilateral summits."
Thomson adds that BRIC's trade growth with Africa has outpaced global trade and that the potential for future growth is significant. "Our show aims to develop and exploit that potential," he comments.
Products and services on show will cover the import/export supply chain. This includes trade and investment promotion agencies, export/import consultants, Export Councils, Chambers of Commerce, banking and trade finance, credit guarantee and insurance services, customs brokers and revenue services, certification and audits, training, media, as well as companies involved in freight logistics including shipping lines, airlines, road and rail operators and courier companies.
In addition to the exhibition element, a number of co-located events designed to stimulate trade will be staged.
The Johannesburg Chamber of Commerce and Industry (JCCI), in association with BRIC Trade Consulates and the Department of Trade and Industry, is convening a series of trade opportunity presentations and seminars aimed at opening dialogue between trade representatives from BRIC countries and African business visitors. Each BRICS country is assigned four presentations aligned to: ease of conducting business in that country, investment opportunities, export opportunities and import opportunities.
Export and import workshops are scheduled over two days, offering beginner fundamentals on day one and import/export campaign support on day two. Presented by the International Trade Institute of Southern Africa (ITRISA), the programme focuses on proper planning and execution, efficiency and compliance, optimisation of operating procedures, incentives, finance, logistics, markets, marketing, training and support.
Thomson believes that the co-location of the BRICS Africa Export Import Forum with SAITEX and Africa's Big Seven will benefit all participants. With 785 exhibitors and 14 659 visitors to the combined events, these international trade shows provide a solid basis for further trade growth.
For more information on the Forum, email Stephen Oehley at moc.b2bacirfascirb@nehpets.
