SME Times News Bureau | 13 Nov, 2019
Prime Minister Narendra
Modi on Wednesday said that his visit to Brazil to attend this year’s BRICS Summit
on 13th and 14th November is an opportunity to deepen India-Brazil strategic
partnership.
In an official statement,
Modi said, "I look forward to holding discussions with BRICS leaders on greater
cooperation in a wide range of areas. On the side-lines of this Summit, I would
be addressing the BRICS Business Forum and interacting with BRICS Business
Council as well as the New Development Bank."
"Improving
economic linkages augur well for the BRICS nations. The visit to Brazil will
give me an opportunity to hold talks with the President of Brazil on ways to
deepen the India-Brazil strategic partnership," he said.
There is great potential in
sectors like trade, defence, agriculture and energy, the Prime Minister added.
This
will be the sixth time that Prime Minister Narendra Modi will be
participating at the BRICS summit. His first BRICS summit was at
Fortaleza in Brazil in 2014.
A
large business delegation from India is also expected to be present
during the visit especially to attend the BRICS Business Forum where the
business community of all five countries are represented.
Prime
Minister is scheduled to hold separate bi-lateral meetings with the
Russian President Vladimir Putin and the Chinese Premier Xi Jinping
apart from the BRICS business forum closing ceremony and the closed
& Plenary Sessions of the XI BRICS Summit.
In
the closed session, the discussions are expected to be focused on
challenges and opportunities for the exercise of national sovereignty in
the contemporary world. This will be followed by the BRICS Plenary
Session where the leaders will discuss the intra BRICS cooperation for
the economic development of BRICS societies.
Thereafter
Prime Minister shall participate in the meeting of the BRICS leaders
with BRICS Business Council where in the Chairman of the Brazilian BRICS
Business Council and the President of the new Development Bank are
expected to submit reports.
Immediately thereafter a BRICS MoU between Trade and Investment Promotion agencies will be signed.
On the conclusion of the summit leaders will issue a joint declaration.
BRICS
brings together five major emerging economies comprising 42 percent of
the world's population, having 23 percent of the global GDP and around
17 percent of the share and world trade.
BRICS
cooperation has two pillars including consultations on issues of mutual
interest through meeting of leaders and ministers as well as
cooperation through meeting of senior officials in a number of areas
including trade, finance, health, education, science and technology,
agriculture, communications IT etc.