PM Modi Attends 7th Brics Summit in UFA
On Wednesday, the Prime Minister Narendra Modi arrived Russia after visiting two Central Asian countries. It is three-day trip during which, PM Modi Attends 7th Brics Summit in UFA and Shanghai Cooperation Organisation summits. Here we are providing the Key highlights and updates, have a look..!!!
Highlights From PM Modi’s Speech:
- Would like to thank Vladimir Putin for providing me this opportunity
- We can mitigate any challenge better if we focus on reforms of the UN and the UN Security Council. This must be done soon.
- Urgent reforms in the UN Security Council are necessary.
- Climate change is one of our foremost global challenges. Need to focus on renewable energy & energy efficiency.
- BRICS is an important pillar of hope in the World filled with political security and economic challenges.
- As BRICS not only stands for the nations it represents but for the welfare of the entire World.
- Let us have conversation and cooperation between our cities. There is a lot to learn from each other in this field.
- I propose a BRICS Agriculture Research Centre, which would be a big gift to the world.
- Let us use our expertise to enable better access to water, efficient water use and potable water supply.
7th Brics Summit In UFA
The 7th BRICS Summit will go to be held in Russian city of Ufa in this year of 2015. Fortaleza was made an announcement on 16 July 2014 on the sidelines of 6th BRICS Summit in Fortaleza, Brazil. This 7th BRICS summit commence on Friday which focused on UN development, the fight beside terrorism and drug trafficking, improvements in IMF and World Bank governance structures, collaboration in WTO and the fight against environmental change.
Modi came to Russia from Kazakhstan that was his second stop after visiting Uzbekistan in his six-nation week-long visit. Prime Minister Narendra Modi firstly will go to the summit of five-nation BRICS that is: Brazil, Russia, India, China and South Africa. That summit is predictable to be subjected by discussions on enhancing cooperation in the financial area.
The BRICS launched a new development bank (NDB) and a currency pool which gona be look at the possibility of commencement of trade and credit facility in local currency. And India picks private banker KV Kamath as first BRICS bank head.
modi said in a statement before his departure from Delhi on Monday that, we look forward to positive result in economic collaboration and cultural ties among the BRICS nations. The 2014 (BRICS) Summit was much productive and we hope that we will construct on the ground enclosed throughout the last Summit.
The PM Modi had also said that he will do convention with he leaders of BRICS nations separately and will be a part of the various communications of BRICS leaders with leaders of industry and other invited countries.
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Main Agenda On BRICS Discussion:-
- Theme: of a powerful factor for Global Development
- To enhance the economic cooperation.
- To create a currency pool under Contingent Reserve Arrangement (CRA) in order to reduce the monopoly of global transaction though western currencies.
- CRA to handle all financial risk of the member countries.
- Discussion on new development bank.(NDB)
- Currency swap on member countries.
- India plays as the most important country in BRICS
- BRICS also has a very crucial role of maintaining world peace and security and ensuring leaving behind a better planet for the future generations.
PM Modi Arrives In Russia To Attend BRICS, SCO Summits
An declaration concerning to India’s association of the six-nation grouping that is China, Russia, Kazakhstan, Kyrgyzstan, Uzbekistan and Tajikistan is probable during the SCO summit on July 9-10.Yestrerday, A top Russian said officialy that the procedure of India’s relationship will be accomplished by next year, along with that of Pakistan, to make it an eight-member body.
Modi has meet China president Xi Jinping and Pakistan counterpart Nawaz Sharif during the summit. Before relesing, PM Modi called up Sharif on 16th june to express India’s decision to free the held Pakistani fishermen on the devout occasion of Ramzan.
Modi has also gave best wishes to Pakistan Prime Minister on Ramzan while stressing the need for having “peaceful” and “friendly” joint ties, that had been recently hit by a war of words between the two countries.”India has free 88 Pakistani fishermen while Pakistan freed 111 Indian fishermen”.
The BRICS summit completed with a announcement that gave importance to co-operation in the field of UNSC improvements:
- The fight against violence and drug trafficking
- Support in the field of information and communications technology
- Reforms in IMF and World Bank governance structures
- Co-operation in WTO and the fight against climate change
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