Technology transfer and business partnerships in BRICS: Development, integration and industrialisation

Abstract

South Africa joined the Brazil, Russia, India and China (BRIC) group of emerging economies in 2010. The group subsequently became known as BRICS. The group hosts summits to seek common ground on areas of importance and convergence for these major economies. This paper is descriptive and analytic in nature, providing background on economic relations and inequalities existing between the BRICS countries. It also provides details of the economic deliberations and partnerships agreed upon and concluded at the 5th BRICS Summit held in Durban South Africa. The research methodology applied to collect data and information about this topic is qualitative in nature, analysis content published about the summit in mass and online media and also a semiotic analysis of interviews broadcast on national television where government and business officials involved with BRICS commented on and abou the summit. These processes involve the analyses of secondary as a form of data collection. Data analysis involved identification of discussion themes raised by these officials in the data gathered, a discussion and commentary on the issues raised, and an interpretation of these issues by making use of international relations theories. This paper also compares the South African economic indicators and the status of the country to those of the other BRICS nations.