South Africa in BRICS: Issues and Prospects

Abstract

The end of apartheid regime in South Africa heralded a radical and pragmatic foreign policy that would not only repair its reputation damaged globally by the apartheid development, but also catapult it to the seat of powerful nation within the international system. Thus, its agreement to be included as a member of the BRIC was not a surprise to many followers of South Africa’s foreign policy objectives on the one hand, but surprising to many as to the nature of the hasty inclusion, especially where other states such as Nigeria and Egypt which were more qualified, on the other hand. The paper seeks to rigorously interrogate the nature of the relationship, especially in trade between South Africa and other BRIC members. Empirical data obtained through published trade statistics by international bodies palpably reveal that the nature of relationship between South Africa and other BRIC members is not symbiotic but parasitic; a glaring perpetuation of dependency. Thus, while South Africa exports valueless commodities in their raw state, it imports technology –driven finished products from China, India and Russia. It is also discovered that South Africa’s hoodwinking into the grouping is to open regional trade access to developed members of the BRICS to the detriment of South Africa. The extent of trade asymmetry means that while the rest members run balance of payment surplus, South Africa’s is balance of payment deficit. The paper concludes that South Africa needs to reconstruct and seize the opportunity that belonging to the grouping offers by prioritizing its economic opportunities by engaging with other BRIC members to implement existing trade agreements it reached and signed with them to maximize its interest.

Keywords: South Africa, BRICS, Dependency