BRICS as an Important Actor in Africa

Abstract

Brazil, Russia, India, China and South Africa (BRICS) play a growing role in the world economy. This entity is deepening its engagement with African countries and has gained great success in their development in recent years. BRICS’ attention to Africa is determined by the important role of African resource potential and also by the continent’s growing influence in contemporary international relations. BRICS countries are now the largest trade partners of Africa (China has overtaken the US as Africa’s first trade partner). Africa’s trade with BRICS is growing faster than its trade with the traditional partners and Africa has become the main destination for BRICS’ development aid. Investments from BRICS into Africa accounted for 25 per cent of Africa’s inflows in 2012. BRICS countries widely use ‘soft power’, developing cultural, scientific and humanitarian ties with Africa and take an active part in African conflicts resolution. Although there is a competition between BRICS’ member countries in Africa, all of them contribute considerably to the African economics.