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BRICS partners have established their first financial institutions to notably address their own needs. The New Development Bank is supporting its founding members. Hopefully soon, it will also support our partners through providing development financing for infrastructure and sustainable development projects.The leadership of the African Union engaged the BRICS leadership at an early stage indicating its strong support for this project and the recent launch of the Africa Regional Centre is a most welcome signal of an intensifying partnership for development.As the Global South, it remains our collective responsibility to increase our role in agenda setting and rule formulation in relevant fora, notably in the United Nations.In its current state, the United Nations has been unable to curb unilateral actions by powerful nations. These practices risk the reversal of gains made by the collective and we must continue to address its inherent biases. This dialogue with our fellow partners from the group of Emerging Markets and Developing Countries (EMDCs) has certainly created an opportunity for us to work towards finding solutions for our common challenges. It provides an opportunity as well to craft a paradigm for mutually beneficial South-South cooperation, to positively impact the lives of our people, and to constantly strive for justice, equity and development. Each of the countries present here today enjoys comparative and competitive advantages in specific fields.Cross fertilisation, the exchange of ideas, joint projects and skills training can go a long way towards promoting economic development and social progress for all. South Africa will continue to explore these mutually beneficial cooperation ties with all our partners. ■Pictured: President Jacob Zuma providing an update report to the stakeholders Operation Phakisa: Oceans Economy programme in Durban on 6 October 2017These remarks by President Jacob Zuma were delivered during the Dialogue of the Emerging Markets and Developing Countries on the Margins of the 9th BRICS Summit on 5 September in Xiamen, China. Visit www.thepresidency.gov.za for more informationTHE G20 MEMBER COUNTRIES 033