Johannesburg - South African billionaire Patrice Motsepe has been appointed chairman of the newly-formed Brics Business Council, the Sowetan reported on Wednesday.
The Black Management Forum welcomed the appointment. BMF managing director Nicholas Maweni told the Sowetan the council would deal with various business issues.
The four other members of the council are representatives from the other Brics countries, namely Brazil, Russia, India, and China.
"The council will give us an opportunity to have a business body that will highlight economic opportunities and issues facing each country. Each member country will provide market access to its Brics partners," Maweni was quoted as saying.
"This means that because South Africa imported a lot of goods we will see a balancing of trade in which we will be given the opportunity to start exporting as well."
Motsepe's appointment occurred amid the Fifth Brics Summit. The two-day summit, which began on Tuesday, is taking place in Durban.
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