India participated in the 11th BRICS summit which was held on November 14, 2019. After the summit, Brazil, Russia, India, China, and South Africa released a joint statement referred to as the Brasilia Declaration. The Declaration addressed strengthening global multilateral systems, economic cooperation, regional conflicts, and intra-BRICS cooperation.
The theme of the 11th summit-” Economic Growth for an Innovative Future”
The joint statement said; “We reaffirm our commitment to helping overcome the significant challenges currently facing multilateralism, as well as upholding the central role of the U.N. in international affairs and respecting international law”
Key Highlights of the Declaration:
- Strengthening & inclusivity in multilateral systems: The Declaration addressed the need for inclusivity in the multilateral system, including the United Nations, its Security Council, the International Monetary Fund, and the World Trade Organisation. Further, observing the importance of sustainable development goals and the Paris agreement on climate change, it addressed the need for developed countries to provide resources and other assistance to developing countries.
- Economic cooperation: The Declaration highlighted the importance of trade between BRICS nations. Further, it observed the need for investment and infrastructure to improve trade. It condemned unilateral and protectionist measures and recommended open markets and fair business and trade environment.
- Regional conflicts: The Declaration observed regional conflicts in Syria, Yemen, Israel-Palestine, the Gulf region, Libya, and Afghanistan. It recognized the need for collective efforts for peaceful settlement of disputes and the role of the UN Security Council as bearing the primary responsibility for maintaining international peace and security.
- Intra-BRICS cooperation: The Declaration acknowledged cooperation among BRICS nations on various subjects such as security, science, technology, industrial growth, environment, energy, finance, trade, and fighting corruption.
A brief note on BRICS
- BRICS is the acronym coined for an association of five major emerging national economies: Brazil, Russia, India, China and South Africa(Joined In 2010).
- The grouping has held annual summits since 2009, with member countries taking turns to host. Prior to South Africa’s admission, two BRIC summits were held, in 2009 and 2010.
- The most recent BRICS summit took place in Brazil from 13 to 14 November 2019.
- The BRICS members are known for their significant influence on regional affairs; all are members of G20.