9th BRICS SUMMIT 2017
Brics Establishment- 2006
1st Brics Summit Held- 2009, Yekaterinburg of Russia
Venue 2017- Xiamen, China
Participating Countries- Brazil, Russia, India, China and South Africa
Theme- “Stronger Partnership for a Brighter Future”.
2018 Summit Venue- Johannesburg, SouthAFrica
Before moving into Highlights of BRICS summit, lets see first who were the representative of BRICS group. They were:
1.China- Xi Jinping (President)(Chairman of the 9th BRICS Summit)
2. Brazil- Michel Temer (President)
3. India- Narendra Modi (Prime Minister)
4. Russia- Vladimir Putin (President)
5. South Africa- Jacob Zuma (President)
Highlights of BRICS Summit- 2017
1. Identification of Pakistan-Based Terror Groups - Major Pakistan based Terror group like JeM, LeT, which are causing violence in that area, are identified and named for the first time.
2. Post Dokalam Xi-Modi Meet- Chinese President Xi Jingping and Indian Prime Minister Narendra Modi held their first bilateral meeting after the 73 days long stand-off of Dokalam. The communication is expected to be positive and progressive.
3. Agreements Signed to Strengthen Commercial Ties among the members of BRICS- Four agreements, which include economic, trade co-operation and bilateral issues, were signed by the BRICS members to boost the commercial ties among the members of BRICS.
4. Putin-Modi Meet- President of Russia Putin and Prime Minister of India Narendra Modi also held the Bilateral Meeting. This meeting was also significant as Russia is moving away from India and gets closer to China.
5. Agreements Signed by the Five Banks of the BRICS Nations on Credit Lines- Five banks have agreed to build the credit lines under BRICS Bank Cooperation Mechanism in their national currencies & cooperate on the credit ratings. These five banks are Brazilian Development Bank, Export-Import Bank of India, Vnesheconombank, Development Bank of South Africa and China Development Bank.
6. Funding Plan Announced By China for BRICS- China would give 76.4millionfortheeconomic and technology cooperation plan of BRICS and another 4 million for the projects at the New Development Bank of BRICS countries.
Challenges for India-
China is planning to form “BRICS Plus” or the BRICS Friends Group and to include the Pakistan, Mexico and Sri Lanka in this extended version of BRICS. Russia is moving away from India on various issues like Ukraine crisis, Afghanistan issues etc.
The BRICS group has evolved as the emerging one than other groups like SAARC and Non Aligned Movement. It is expected that member countries must use BRICS to form an Institution instead of a wall.