The Law Society of South Africa (LSSA) hosted the fifth BRICS Legal Forum in Cape Town in August. Leaders and members of the LSSA, the Brazilian Bar Association, the Association of Lawyers of Russia, the Bar Association of India, the China Law Society, the General Council of the Bar and legal academics and practitioners from each member state attended. The countries (Brazil, Russia, India, China and South Africa (SA)), who represent over 40% of the world’s population and over 20% of global Gross Domestic Product (GDP), met to promote practical legal cooperation and the advancement of the rule of law within BRICS.
The conference focused on –
- contract and company law;
- finance and taxation; and
- BRICS Dispute Resolution Centres.
The leaders of each law society signed the Cape Town Declaration and have committed to –
- promoting the rule of law with integrity and dignity within their member states;
- create a regulatory and legal framework that supports fair and sustainable trade practice; and
- develop fair, efficient and effective dispute resolution centres and procedures to resolve any disputes between member states.