The decision of the United States (US) to impose trade tariffs has forced many countries to seek alternative markets, including in BRICS countries.

The discussions are under way at the BRICS Business Forum in Rio de Janeiro, Brazil.

BRICS business council executive from South Africa, Stavros Nicolaou says Pretoria has to find alternative funding for its projects after the withdrawal of the US funds.

“The funding that South Africa receives from the United States, USAID, Pepfar and NIC amounts to almost R10 billion. So it’s a 10 billion gap that we need to feel. Approximately 2 billion of that is attributable to the research clinical drug capacity. The other 8 billion was to assist HIV/AIDS programmes on the ground.”

--SABC--