A Systems View of BRICS Value Chains, South Africa and BRICS participation in African Continental Free Trade Area
Global value chains have shaped world production and trade. This research article examines the connections between the value chains of the BRIC economies and South Africa's role in positioning BRICS-Africa trade as a member of the African Continental Free Trade Area (AfCFTA) using BRIC value ch...
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| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
UJ Press
2023-07-01
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| Series: | Journal of BRICS Studies |
| Subjects: | |
| Online Access: | https://journals.uj.ac.za/index.php/jbs/article/view/2301 |
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| Summary: | Global value chains have shaped world production and trade. This research article examines the connections between the value chains of the BRIC economies and South Africa's role in positioning BRICS-Africa trade as a member of the African Continental Free Trade Area (AfCFTA) using BRIC value chains that has been tailormade to increase BRICS share of the AfCFTA market. It argues that in order for BRICS's to increase its competitiveness in AfCFTA and the global market, intra-BRICS trade should be based on value chains that has been developed specifically to support BRICS and provide it with the competitive leverage necessary to explore new market opportunities. AfCTA presents such a market. Additionally, the article reveals that for BRICS to succeed in AfCFTA through its value chains, it must recognise South Africa's potential (to host some of these) and its geographic location on the African continent. Furthermore, BRIC needs to appreciate that South Africa can successfully host some of BRIC nations' value chains. This indicates that South Africa's membership of BRICS and AFCTFA provides an opportunity that can benefit BRICS through its participation in AfCFTA using value chains approach. This however requires academic interrogation, which will yield information and knowledge that can be used to formulate programmes, policies and strategies of how BRICS value chains can be of significant support to AfCFTA.
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| ISSN: | 2519-7452 2519-7460 |