[ad_1]
The 10th edition of the BRICS Summit began in Johannesburg, South Africa, on July 25, 2018. The BRICS 2018 Summit will be held from July 25 to July 27. All BRICS leaders will participate.
Indian Prime Minister Narendra Modi The three-nation tour of Africa, which began in Rwanda, will culminate in South Africa. Modi should meet with Chinese President Xi Jinping on the sidelines of the summit
Topic of the BRICS Summit 2018
BRICS in Africa: Collaboration for Inclusive Growth and Shared Prosperity in the 4th industrial revolution
Key Topics
The main issues before the 10th BRICS Summit include largely multilateralism, global governance, health and vaccines women's socio-economic empowerment, peacekeeping Science, parks and technology, inclusive growth, sustainable development and infrastructure.
BRICS leaders to discuss issues related to global hot spots, international peace and security, global governance and trade issues during the restricted session. the worsening of the world trade war will also be at the top of the agenda of the BRICS 2018 Summit.
For the first time, a BRICS leadership retreat is being organized where leaders will deliberate and take action cooperation between the BRICS during the decade and its future prospects
Topics likely to be raised by India
The Indian Prime Minister is likely to evoke cross-border terrorism and push the BRICS nations to define terrorism. Indian officials have already addressed the issue with their counterparts from other members of the BRICS
The idea of the BRICS rating agency should also be resumed at the summit, confirmed the Secretary of Economic Relations of the MEA, TS Tirumurti.
India had asked the BRICS countries to create an independent rating agency of the five-member group at the first meeting of BRICS finance ministers and central bank governors that was held on the sidelines of meetings the IMF and the World Bank. April 2018.
In 2016, the BRICS countries agreed to establish an independent credit rating agency based on market-based principles as part of efforts to strengthen the architecture of global governance [19659002]
In addition to the 2018 BRICS Summit, Indian Prime Minister Narendra Modi will participate in outreach activities with African leaders and sensitization with leaders of the United States. Global South Summit.
As part of BRICS Africa Outreach, the invited countries are Rwanda, Uganda, Togo, Zambia, Namibia, Senegal, Gabon, Ethiopia, Angola and the presidency of the African Union.
The BRICS is formed of Brazil, Russia, India, China and South Africa.
The group initially consisted of four nations: Brazil, Russia, India and China (BRIC). The term BRIC was coined by world economist Jim O'Neill in 2001 as the acronym for four countries that were all considered to be at a similar stage of newly advanced economic development.
Why only these four countries? [19659019] According to a dissertation proposed by Jim O'Neill, a world economist at Goldman Sachs, the economic potential of Brazil, Russia, India and China is such that they could be among the four most dominant economies by 2050.
not only encompbad more than 25% of the world's land cover and 40% of the world's population, but also hold a combined GDP (PPP) of 20 trillion of dollars.
On almost all scales, they would be the largest entity in the world. stage, because the four nations are among the largest and most dynamic emerging markets
Main objective
The initial goal of the grouping was to establish a fair, democratic and multipolar world order. [19659020] When was the first BRIC The first meeting of BRIC foreign ministers was held in 2006 between China, Brazil, Russia and India in the margins of the general debate of the 61st session of United Nations General Assembly, prelude to BRIC cooperation
In 2009, the first BRIC summit was held in Yekaterinburg, Russia and in 2010, it became an official institution. Since then, the Summit has become an annual event. So far, 8 summits have occurred
How did the BRICs become BRICS?
In December 2010, China, then president of the group, invited South Africa to join the BRIC and to participate in the Sanya Summit. China
After the summit, BRIC is officially extended to 5 countries and the acronym has changed from BRIC to BRICS
Relevance of the BRICS today
• With 10 years of development, the BRICS has become an important platform for • The BRICS countries come from Asia, Africa, Europe and America and are all members of the G20.
• Together, countries represent 26.46% of the world's land area, 42.58% of the world's population, 13.24% of the World Bank's votes and 14.91% of the IMF's quota.
• According to IMF estimates, BRICS countries generated 22.53 percent of global GDP in 2015 and contributed over 50 percent of global economic growth over the last 10 years.
Video: Discover the latest news this week
Read more Current Affairs
[ad_2]
Source link
