BRICS SUMMIT 2019

This year 11th BRICS summit was hosted by Brazil on the 13th and 14th of November with the moto “Economic growth for an innovative future”. It was held at the   Itamaraty Palace, where the Brazilian Ministry of Foreign Affairs is located. This marks the second time the Brazilian capital Brasília hosted the  summit. 

The following topics were discussed: 

● Strengthening of the cooperation in science  
● Technology and innovation  
● Enhancement of the cooperation on digital economy invigoration 
of the cooperation on the fight against transnational crime  
● Money laundering, and drug trafficking, and encouragement
to the rapprochement between the New Development Bank (NDB) and the  BRICS Business Council.

General BRICS Information: 

● The five countries comprise 42 percent of the world’s population, 23 percent of the of the global GDP. 
 Spanning over five continents, they comprise of one fourth of the world land area, half of all economic growth and 43 percent.  
● The BRICS will approach the total size of the G7 economies by 2030,
and by the middle of this century they are projected to be nearly double the  size of the G-7.  
● About 50 per cent of world’s workforce is in BRICS countries. Possible future BRICS members and countries who have expressed interest in
joining include: Argentina, Indonesia, Mexico, Turkey, Egypt, Iran, Nigeria,  Sudan, Syria, Bangladesh and Greece.  
● Idea to form this group was conceived by Goldman Sachs. 

Highlights from PM Modi’s speech:

➢ India’s development processes have imbibed innovation in them, this is also apt with the theme of the current BRICS summit which is ‘economic growth for an innovative future’. In this regard, it is important to have intra BRICS cooperation in the field of innovation.
➢ In the next 10 years, BRICS vision and intra-cooperation strategies have to be discussed, Despite achieving success in some areas, cooperation in certain other areas has to increase.
➢ BRICS nations despite have more than 40% of the population, account for only 15% of global trade amongst  them.
➢ India has recently launched the ‘fit India movement’ and would like to encourage the members of  the BRICS  nations to have a dialogue in the area of fitness and wellness
➢ In the urban areas, sustainable water management and sanitation are important. PM Modi looks  forward to  address the first BRICS Water Ministers meet in India.
➢ BRICS ‘Strategies for countering terrorism’ will be holding their first seminar soon PM is confident  that 5 other  working groups and their activities will help fight terrorism and organized crime.
➢ India believes in mutual recognition and granting of benefits in the areas of visa, social security  arrangements  and educational and professional qualifications.

PM Modi- Vladimir Putin talk:

➢ Prime Minister Narendra Modi met Russian President Vladimir Putin at Brasilia on November 13, 2019 ahead of the BRICS Summit 2019. This is the fourth meeting of the two leaders in 2019.
➢ During the talks, the two leaders reviewed the progress made in the bilateral relationship between the two nations since PM Modi’s visit to Vladivostok in September 2019.
➢ The two leaders noted that the USD 25 billion bilateral trade target by 2025 has already been achieved. They further decided to hold the 1st bilateral regional forum between Russian Provinces and the Indian States in 2020 to do away with the trade barriers at the regional level.
➢ They further noted the progress made in oil and natural gas import. Russian President Vladimir Putin highlighted the potential of the Arctic region in natural gas and invited India to invest in the region.
➢ The leaders also reviewed the progress made in the Infrastructure sector especially railways including raising the speed of the Nagpur- Secunderabad sector railway line. The leaders further noted cooperation between India and Russia in Defense sector and Civil Nuclear Energy. They also noted that the two nations share a common position on several international issues and agreed to continue close consultations.
➢ Prime Minister Modi accepted the Russian President’s invitation to participate in Russia’s Victory Day celebrations in 2020.

PM Modi-Xi Jinping talk:

➢ Prime Minister Narendra Modi held bilateral discussions with Chinese President Xi Jinping on November 13, 2019, on the side-lines of the 11th BRICS Summit.
➢ The Chinese President expressed his deep appreciation to PM Modi for the warm welcome he received during the 2nd Informal Summit between India and China at Mamallapuram in Chennai.
➢ Xi Jinping invited PM Modi to China for the third informal summit between the two nations in 2020. The two leaders further agreed on the importance of maintaining close dialogue on matters such as trade and investment. The leaders further reviewed the ongoing preparations for the celebration of the 70th anniversary of the establishment of diplomatic relations between India and China in 2020.
➢ The leaders also reiterated the importance of maintaining peace and security in border areas and exchanged views on many issues including RCEP, WTO and BRICS.

PM Modi-Xi Jinping talk:

➢ PM Narendra Modi met Brazilian President Jair Bolsonaro on the side-lines of the 11th BRICS Summit on November 13, 2019. The Brazilian President accepted PM Modi’s invitation to be the chief guest at India’s Republic Day on January 26, 2020.
➢ During their bilateral talks, the two leaders agreed to comprehensively enhance the strategic partnership between the two nations. PM Modi outlined areas for potential investment from Brazil including areas such as agricultural equipment, biofuels, post-harvest technologies and animal husbandry

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