Published 01:32 IST, October 31st 2019
Russia confirms Putin's participation in upcoming BRICS Summit
Russia's presidential spokesperson announced on October 30 that President Vladimir Putin will take part in the 11th BRICS Summit scheduled to be held in Brazil.
Russia's presidential spokesperson Dmitry Peskov announced on October 30, that President Vladimir Putin will take part in the 11th BRICS Summit that is scheduled to be held in Brazil next month. According to the reports, he will take a two-day visit next week. He plans to take part in the BRICS Summit, which will be held in Brazil. Union Minister Prahlad Singh Patel took part in BRICS Culture Ministers' meeting held in Curitiba, Brazil earlier this month. The 11th BRICS Summit is scheduled to be held in Brasilia from November 13-14, 2019. An individual meeting of BRICS ministers of Foreign Affairs/International Relations is also supposed to be held in Russia next year.
Relevance of BRICS
BRICS is the acronym coined for an association of five major emerging national economies: Brazil, Russia, India, China, and South Africa. The BRICS members are known for their significant influence on regional affairs; all are members of G20. Since 2009, the BRICS nations have met annually at formal summits. Discussions focus on spheres of political and socio-economic coordination, in which member countries have identified business opportunities, economic complementarities, and areas of cooperation.
New areas to be focused in the 11th summit
The new areas powered by Brazil to be focused are strengthening of cooperation on science, technology, and innovation; enhancement of cooperation on digital economy; invigoration of cooperation on the fight against transnational crime, especially against organized crime, money laundering and drug trafficking; and encouragement to the rapprochement between the New Development Bank (NDB) and the BRICS Business Council. The meeting will be held at the Itamaraty Palace, where the Brazilian Ministry of Foreign Affairs is located. The Brazilian capital will host the BRICS summit for the second time. The motto for the 11th BRICS summit is 'Economic growth for innovative future'
Updated 01:33 IST, October 31st 2019