BRICS Summit 2019 – Burning Issues – Free PDF Download

11TH BRICS SUMMIT

BRICS SUMMIT

• The 2019 BRICS summit is the eleventh  annual BRICS summit, an international  relations conference to be attended by the  heads of state or heads of government of the  five member states Brazil, Russia, India, China  and South Africa.
• Cities – Brasília(capital)

POINTS TO  REMEMBER

• Brazil Population – 21 crore
• Currency – Brazilian real
• Brazil borders the following countries:Argentina,  Bolivia, Colombia, French Guiana, Guyana,  Paraguay, Peru, Suriname, Uruguay, and Venezuela.

11TH BRICS SUMMIT

• The name of the chosen theme was:  BRICS: economic growth for an  innovative future.

MASSIVE TRADE DEFICIT WITH BRICS  COUNTRIES

INDIA BRICS TRADE

• Intra-BRICS trade accounts for just 15% of world  trade, it needs to be increased. India invited business  leaders of the member nations for investment,  particularly in infrastructure development.
• India proposed to hold the first meeting of BRICS  Water Ministers in India.
• India highlighted the menace of terrorism which has  resulted in the loss of $1 trillion to the world economy.

BRICS CUSTOMS COOPERATION

• “We also welcome the substantial progress  made in the implementation of the Strategic  Framework of BRICS Customs  Cooperation, especially with regard to the  BRICS Authorized Economic Operator  Program, which should be functional by the  end of 2022, including the mutual recognition  of controls and economic operators.

THINGS TO NOTE

• India’s Ravi Prakash wins BRICS-Young  Innovator Prize
• He won the first first prize carrying $25,000  for inventing an affordable indigenous milk  chilling unit for smaller and marginal rural  dairy farmers.

BRICS SCIENCE

• On July 2014, during the 6th BRICS Summit held in  Fortaleza, Brazil, Indian Prime Minister Narendra Modi  mooted the idea of youth engagement and desired to  develop an innovative mechanism to engage, network and  connect BRICS youth.
• Eventually, India’s proposal for creating a BRICS-Young  Scientist Forum received unanimous support and was  endorsed by BRICS Science,Technology and Innovation  Ministers at 2nd Science,Technology and Innovation (STI)  Ministerial Meeting held in Brasilia on March 2015.

BRASILIA DECLARATION

DECLARATION

• It advocates and supports multilateralism, the central role of the U.N.  in international affairs and respect for international law.
• Reforming Multilateral Systems:There is an urgent need to strengthen  and reform the United Nations and other multilateral organisations,  including the World Trade Organisation (WTO) and the International  Monetary Fund (IMF), to address the significant challenges being faced by  the developing countries.
• Support to Multilateralism:The trade war between China and the U.S. and  rising protectionism is hurting the global economy. Multilateralism is  crucial for emerging countries to protect their own interests.

DECLARATION

MEETING ON  SIDELINES

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