As part of efforts to combat under-invoicing of imported goods, trade and industry minister Ebrahim Patel has welcomed the adoption of the BRICS Summit Declaration, which will see efforts to deepen fair trade and boost economic growth between member nations.
Speaking at the 9th BRICS Ministers of Trade meeting in Brazil last week, Patel said he was encouraged by the amendments to improve the local textile, poultry and steel markets.
“The adoption of the commitment to address under-invoicing represents a very significant breakthrough in our efforts to rebuild local industries decimated by illegal imports and smuggling,” he said.
“The commitment will help achieve the goals set in the recently adopted South African Master Plans on the poultry and clothing, textiles, footwear and leather industries. In bilateral discussions with BRICS trade ministers, we agreed to concrete and specific steps to implement this commitment.”
