BRICS trade with Africa will increase to $500 billion in 2015, said Indian Africa Commissioner Ajjampur Rangaiah Ghanashyam.
Ghanashyam is a senior Foreign Service official who is India's ambassador to Nigeria, Cameroon, Benin and Chad. He gave an interview to the Cameroon Tribune Aug. 28th, a few weeks after taking office in Yaoundé. The interview was covered by the Geneva- and Cameroon-based African wire Agence Ecofin.
Trade between African countries and the BRICS "has grown more rapidly than trade with the rest of the world in the past years," Ghanashyam said. Africa-BRICS trade "has doubled between 2007 and 2012, reaching $34 billion this year, and is projected to reach $500 billion in 2015. The BRICS success in promoting inclusive economic growth, the creation of jobs and structuring the sector for processing local products in order to fight poverty and inequality, has taught African countries a great deal," Ghanashyam said, in explaining the BRICS growing interest in economic cooperation with African nations.
The Indian diplomat encouraged the Cameroon government "to access investment from the BRICS and control exports. He believes that a country that continuously exports will neither own production nor factories which could help in creating jobs."