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Stressing the key role played by BRICS countries the minister said "BRICS is a very good platform for all five countries for co-operation and development.
It was held in Johannesburg and the theme was BRICS in Africa: Collaboration for inclusive growth and shared prosperity in the fourth industrial revolution.
President Masisi said it was pleasing to see that BRICS leadership was taking the lead to finding solutions to challenges of the developing world.
After all, while the BRICS still emphasize the importance of multilateralism, it is clear that they are not wedded to the current international order.
How China uses the many geopolitical instruments at its disposal will matter a great deal to the other Brics countries, because they will have to adapt their national strategies to China's own "outside options." Since 2013, China has established the Asian Infrastructure Investment Bank (AIIB), launched the Belt and Road Initiative (BRI), and proposed expanding the Brics into a "Brics Plus" - with China presumably at its head.
In order to ensure the quality and reliability of the data, the main sources utilized in the research were the Constitution of the Federative Republic of Brazil, governmental official policies and interviews with Brazilian authorities and public servants, as well as BRICS' official declarations and documents.
It was the first time that Xi had presided over the BRICS summit and the third time for him to chair major international events in a year, following the G20 Hangzhou Summit and the Belt and Road Forum for International Cooperation in Beijing.
Refuting claims that the group is losing its luster, Xi told the BRICS Business Forum on Sunday that the BRICS countries are 'fully confident' about their growth potential and future outlook despite headwinds that have caused setbacks in growth.
The five countries' foreign investment totaled $197 billion in 2016, but only 5.7 percent took place between BRICS members, the president said.
As a rising power and the second largest economy in the world, China has more expectation from the BRICS. During the 12th G-20 Summit in Germany, the leaders of the BRICS held informal talks reaching consensus on building an open world economy and improving global economic governance.
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