Prime Minister Narendra Modi visited Brazil to attend the 11th BRICS Summit on November 13 and 14. He met Russian President Vladimir Putin, Chinese President Xi Jinping and Brazilian President Jair Bolsonaro in the capital Brasilia to discuss various issues.
The BRICS Summit 2019 theme is ‘Economic Growth for an Innovative Future’. The five BRICS nations comprise almost 50 percent of the world’s economic growth. The BRICS bloc accounts for five major developing economies including India, Brazil, China, Russia and South Africa.
While addressing the BRICS Business Forum, PM Modi affirmed that the BRICS nations have accelerated economic growth despite global recession and have helped millions to come out poverty. The nations also succeeded in achieving breakthroughs in technology and innovation.
PM Modi advised the identification of at least five areas for joint venture between the BRICS nations before the next BRICS Summit. He also invited propositions from the BRICS leaders to further reduce the trading cost between the BRICS nations.
PM Modi restated that India is one of the world’s most open and investment-friendly nations due to business-friendly reforms, political stability and foreseeable policy.
PM Modi holds talks with Brazil, China and Russia
PM Modi— Brazilian President Bolsonaro
The two leaders agreed to comprehensively enhance the strategic partnership between the two nations during their bilateral talks at the summit. The Prime Minister delineated many areas for potential investment from Brazil including areas like biofuels, post-harvest technologies, agricultural equipment and animal husbandry. They also discussed other areas such as defence and space sector. Besides, PM Modi welcomed the Brazilian President’s decision to grant visa-free travel to Indian citizens. Further, the Brazilian President accepted PM Modi’s invitation to be the chief guest at India’s Republic Day on January 26, 2020.
PM Modi meets Chinese President Xi Jinping
Chinese President Xi Jinping invited PM Modi to China for the third informal summit between the two nations in 2020. The two leaders further agreed on the importance of maintaining close dialogue on matters such as trade and investment, and also reviewed the ongoing preparations for the 70th anniversary of the establishment of diplomatic relations between India and China in 2020. Besides, they also restated the importance of maintaining peace and security in border areas.
PM Modi and Vladimir Putin talks
During their bilateral talks, the two leaders reviewed the progress made in the bilateral relationship between the two nations since PM Modi’s visit to Vladivostok in September 2019. Both the leaders noted that the two nations share a common position on several international issues and agreed to continue close consultations.
The Indian Prime Minister and the Russian President noted that the USD 25 billion bilateral trade target by 2025 has already been attained. They also noted the progress made in oil and natural gas import and the Russian President invited India to invest in the Arctic region.
The leaders reviewed the progress made in the Infrastructure sector and further noted cooperation between the two countries in Defence sector and Civil Nuclear Energy. In the end, Prime Minister Modi accepted the Russian President’s invitation to participate in Russia’s Victory Day celebrations in 2020.
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