A BRICS Business Council will be launched during the group's fifth summit this month in a step to intensify cooperation of five emerging economies, South Africa Trade and Industry Minister Rob Davies said on Wednesday.

The BRICS summit will be held in Durban, South Africa on March 26-27.

Davies said the council will constitute a platform to strengthen economic ties, trade and investment between the business communities of the five BRICS countries of Brazil, Russia, India, China and South Africa. .

The minister stated that the council will provide technical support, consultative advice and facilitate the implementation of multilateral business projects. The council will focus on specific areas.

"These areas include promotion of trade and industry and business cooperation, technology transfer and development, tapping business opportunities in third countries and multilateral business, advisory role, cooperation in the fields of manufacturing, infrastructure, banking and financial services, green economy, skills development and training and small and medium enterprises," Davies said in a statement.

The minister added that the council will have regular dialogue between the business communities and the five BRICS governments.

"The BRICS Business Council will also constitute sector working groups and will submit an annual report to the BRICS Leaders during the Annual BRICS Summit," he added.

The senior government official said that within the context of the establishment of the BRICS Business Council, South Africa has nominated leading businessman Patrice Motsepe, Nomaxabiso Majokweni, Sandile Zungu, Iqbal Surve, Brian Molefe and Stavros Nicolau who will serve as representatives.