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Tuesday, September 5

Important moves of BRICS – 2017, Xiamen, China.

Latest:TNPSC Group 2A 2017 Expected Cut Off Marks Updated
TNPSC Current Affairs - September 2017 by TNPSC Guru.

The 9th annual summit of BRICS kicked off on Sunday at Xiamen , China in new  BRICS plus format with non BRICS leaders of Egypt, Mexico, Thailand, Guinea and Tajikistan along with BRICS leaders.

First time it has named two Pakistan-based terrorist groups, Lashkar-e-Taiba and Jaish-e-Mohammad as global terror groups.

Also BRICS leaders signed four important documents during Summit to deepen commercial ties among the BRICS countries. 
  • Action Agenda on Economic and Trade Cooperation
  • Action Plan for Innovation Cooperation(2017-2020)
  • Strategic Framework of BRICS Customs Cooperation
  • MoU between the BRICS Business Council and the New Development Bank on Strategic Cooperation

About BRICS: 
  • BRICS is an international association of five major emerging economies namely B-Brazil, R-Russia, I-India, C-China, S-South Africa.
  • It comprise of world’s 43% of population, 30% of World GDP and 17 % share in world trade.
  • Early it was known as BRIC , in 2010 South Africa was included and then known as BRICS.
  • The objective of BRICS was Economic co-operation and development without dependence on West .
  • The Name BRIC was coined by an economist of Goldman Sachs, Jim O’ Neil.
  • The first summit was held at Yekaterinburg, Russia (2009), 2nd summit at Bazil (2010), 3rd summit at Sanya, China (2011), 4th summit at New Delhi, India (2012), 5th summit at Durban, South Africa (2013), 6th Summit at Fortaleza, Brazil (2014), 7th Summit at Ufa, Russia (2015), 8th Summit at Goa, India (2016) and 9th Summit at Xiamen , China (2017)

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