JOHANNESBURG, July 19 (Xinhua) -- BRICS has achieved a lot in the last 10 years and has a potential to do more, South African government officials said here on Thursday.
"One of the achievements of the BRICS was the formation of the New Development Bank (NDB)," said South Africa's director general in the Department of Trade and Industry, Trade and Investment, Lerato Mataboge, while speaking at a round-table discussion.
"There is an existence of a financial institution to finance strategic projects. South Africa got some loans from the bank and we are happy about that. We are looking forward to getting more financial support in future," said Mataboge.
South Africa's sous-sherpa for BRICS, ambassador Anil Sooklal, said BRICS cooperation has "widened and deepened exponentially."
BRICS has widened from political and cooperation to be people-centered covering all aspects of our society, said Sooklal.
"We want to see change in the global order as BRICS," Sooklal said.
He pointed out that they are against isolationist policies and trade wars.
"The so-called trade wars will not benefit anyone. It will hurt us all. That is not the route to address issues," he said.
There are dispute resolution mechanisms to resolve disagreements like the World Trade Organization, he said.
South African marketing company Brand South Africa's general manager Petrus de Kock said the bloc has build a BRICS brand which has shown its impact on the global stage.
"BRICS is the voice of the developing world who are pursuing multilateralism and South-South cooperation," de Kock said.
BRICS, which comprises Brazil, Russia, India, China and South Africa, is scheduled to hold its 10th annual summit in Johannesburg, South Africa, on July 25-27.
