BRICS Summit 2023 paves path for intra-market growth and African expansion Photo: Supplied: Avi Lasarow
BRICS Summit 2023 paves path for intra-market growth and African expansion
A varied panel discussed topics spanning market access expansion to entrepreneurship’s role in driving economic growth at the BRICS summit.
BRICS Summit 2023 paves path for intra-market growth and African expansion Photo: Supplied: Avi Lasarow
In a vibrant display of global entrepreneurial zeal, the BRICS Business Forum witnessed a transformative session titled “BRICS Entrepreneurial Opportunity and Market Access as a Key Enabler for SMMEs” on Tuesday.
BRICS SUMMIT 2023 PAVES THE PATH FOR INTRA-MARKET GROWTH
This pivotal gathering showcased the dynamic potential for unleashing intra-BRICS markets and catalysing African growth.
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At the heart of this engaging discourse were influential figures, including renowned entrepreneur Bassim Haidar, Chairman of BH Holdings Group, and a distinguished panel of BRICS business leaders. The session commenced with an opening address by Stella Ndabeni-Abrahams, Minister of Business Development, leading the audience into a tripartite exploration of themes: advancing intra-BRICS market access, entrepreneurship as an engine of growth, and the role of incubation and knowledge transfer.
The dialogue commenced by spotlighting the immense potential inherent within the BRICS nations to invigorate entrepreneurship by augmenting market access.
THIS PIVOTAL GATHERING SHOWCASED THE DYNAMIC POTENTIAL FOR UNLEASHING INTRA-BRICS MARKETS
With the entrepreneurial forces of Brazil, Russia, India, China, and South Africa coalescing, a collaborative spirit capable of transcending geographical confines emerged. By dismantling trade barriers and fostering an environment conducive to cross-border commerce, the session resonated with the promise of unearthing untapped markets within the BRICS alliance.
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Central to the discourse was the resounding acknowledgement of entrepreneurship as a catalyst for economic expansion. Entrepreneurs and industry leaders united in recognizing that innovation-driven entrepreneurship possesses the capacity to spur job creation, fuel innovation, and invigorate economic vibrancy.
MENTORSHIP, RESOURCES AND EXPERT INSIGHT PLAY PIVOTAL ROLES
The session reverberated with accounts and insights underscoring how entrepreneurial ventures can significantly contribute to the prosperity of not only BRICS nations but also the global community. This collective embrace of Small and Medium-sized Enterprises (SMEs) as pivotal growth engines further fortified the ethos of the dialogue.
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The conversation evolved to illuminate the vital role of incubation and knowledge exchange in nurturing nascent entrepreneurial endeavours. Evident was the consensus that mentorship, resources, and expert insights play pivotal roles in enhancing the trajectory of aspiring entrepreneurs.
The diverse expertise of residents within BRICS nations lends itself to the creation of robust platforms for knowledge dissemination, fostering a fertile ground for innovative ideas to flourish. This dimension of the discourse highlighted the profound potential for knowledge-sharing to transcend national boundaries, thereby nurturing a collaborative ecosystem for burgeoning entrepreneurs.
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BRICS NATIONS LENDS ITSELF TO THE CREATION OF ROBUST PLATFORMS FOR KNOWLEDGE DISSEMINATION
Bassim Haidar, a luminary in the entrepreneurial realm and representative of South Africa on the panel, shared invaluable insights into this dynamic landscape.
His emphasis on presenting an African success narrative underscored the pivotal role that entrepreneurship plays on the continent.
“Creating an enabling regulatory environment is key. South Africa’s business-friendly regulations set it apart, offering a promising atmosphere for enterprises.
“However, sectors like fintech and medical cannabis face regulatory challenges across BRICS nations. Revamping trade agreements among BRICS countries is imperative.
“Furthermore, the high-interest rates that accompany borrowing pose significant business risks within BRICS. A unified BRICS currency and a proactive approach by the BRICS Business Council in fostering intra-trade could mitigate these challenges. Inclusive financing for the development of Small, Medium, and Micro-sized Enterprises (SMMEs) is indispensable for achieving these goals.”
Haidar remarked.
HIS PARTICIPATION EXEMPLIFIED THE PROFOUND IMPACT OF COLLABORATIVE SYNERGY WITHIN THE BRICS FRAMEWORK
His participation exemplified the profound impact of collaborative synergy within the BRICS framework. Haidar illuminated how collective action by BRICS nations can amplify the influence of entrepreneurship, demonstrating that an even greater trajectory can be attained through united efforts.
As the BRICS Entrepreneurial Opportunity and Market Access session unfolded, a resonant sentiment echoed from Avi Lasarow, the South African Honorary Consul in the U.K. and a health-tech entrepreneur.
He envisioned BRICS not solely as a platform for dialogue but as a fount of innovations that can be shared globally, catalyzing growth even beyond the alliance.
“This pivotal session serves as a testament to the potential of cross-border collaboration, the pivotal role of entrepreneurship in hastening growth, and the transformative influence of incubation and knowledge exchange.
“By orchestrating these discussions, the summit has paved the way for a new era of entrepreneurial vigor within the BRICS alliance, setting a compelling precedent for the journey ahead.”
Avi Lasarow
