11th BRICS summit 2019: PM Modi held bilateral talks with Russia and China
11th BRICS summit 2019: Prime Minister Narendra Modi participated in BRICS summit for the sixth time.
11th BRICS summit 2019: Prime Minister Narendra Modi, who visited Brazil to attend the 11th BRICS Summit, met Russian President Vladimir Putin, Chinese President Xi Jinping and Brazilian President Jair Bolsonaro in the capital Brasilia and discussed on various issues.
The BRICS summit 2019 theme is 'Economic Growth for an Innovative Future'. The five BRICS nations account for almost 50 percent of the world's economic growth. The BRICS bloc comprises five major developing economies including Brazil, Russia, India, China and South Africa.
While addressing the BRICS Business Forum, PM Narendra Modi stated that the BRICS nations have accelerated economic growth despite global recession and have enabled millions to come out poverty and achieved breakthroughs in technology and innovation.
PM Modi suggested the identification of at least five areas for joint venture between the BRICS nations before the next BRICS Summit. PM Modi also invited suggestions from the BRICS leaders to further reduce the trading cost between the BRICS nations.
The Prime Minister reiterated that India is one of the world’s most open and investment-friendly nations due to business-friendly reforms, political stability and predictable policy.
PM Modi holds bilateral talks with leaders of Brazil, Russia and China
1. PM Modi-Jair Bolsonaro talks
PM Narendra Modi met Brazilian President Jair Bolsonaro on the sidelines of the 11th BRICS Summit on November 13, 2019. The Brazilian President accepted PM Modi’s invitation to be the chief guest at India’s Republic Day on January 26, 2020.
During their bilateral talks, the two leaders agreed to comprehensively enhance the strategic partnership between the two nations. PM Modi outlined areas for potential investment from Brazil including areas such as agricultural equipment, biofuels, post-harvest technologies and animal husbandry.
The two leaders also discussed other areas of cooperation such as defence and space sector. Jair Bolsonaro informed PM Modi that he would be accompanied by a large business delegation during his visit to India in January. Further, the Indian Prime Minister welcomed the Brazilian President's decision to grant visa-free travel to Indian citizens.
2. PM Modi-Xi Jinping talks
Prime Minister Narendra Modi held bilateral discussions with Chinese President Xi Jinping on November 13, 2019, on the sidelines of the 11th BRICS Summit.
The Chinese President expressed his deep appreciation to PM Modi for the warm welcome he received during the 2nd Informal Summit between India and China at Mamallapuram in Chennai.
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. The leaders further reviewed the ongoing preparations for the celebration of the 70th anniversary of the establishment of diplomatic relations between India and China in 2020.
The leaders also reiterated the importance of maintaining peace and security in border areas and exchanged views on many issues including RCEP, WTO and BRICS.
3. PM Modi- Vladimir Putin talks
Prime Minister Narendra Modi met Russian President Vladimir Putin at Brasilia on November 13, 2019 ahead of the BRICS Summit 2019. This is the fourth meeting of the two leaders in 2019.
During the 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.
The two leaders noted that the USD 25 billion bilateral trade target by 2025 has already been achieved. They further decided to hold the 1st bilateral regional forum between Russian Provinces and the Indian States in 2020 to do away with the trade barriers at the regional level.
They further noted the progress made in oil and natural gas import. Russian President Vladimir Putin highlighted the potential of the Arctic region in natural gas and invited India to invest in the region.
The leaders also reviewed the progress made in the Infrastructure sector especially railways including raising the speed of the Nagpur-Secunderabad sector railway line. The leaders further noted cooperation between India and Russia in Defence sector and Civil Nuclear Energy. They also noted that the two nations share a common position on several international issues and agreed to continue close consultations.
Prime Minister Modi accepted the Russian President’s invitation to participate in Russia’s Victory Day celebrations in 2020.
BRICS is a currently a group of five major developing economies. Initially, the bloc included only four nations and was termed as BRIC, as South Africa became a member of the bloc only in 2010.
BRICS nations make up almost 42 percent of the world’s population, 23 percent of the global GDP and about 17 percent of the world trade. The group also accounts for almost 50 percent of world economic growth and 26.6 percent of the world area.
All BRICS nations are members of the G20 group. The BRICS summit has been hosted alternatively every year since 2009. The 10th BRICS Summit was hosted by South Africa in January 2018.
11th BRICS Summit
The BRICS Summit 2019 is the 11th edition of the annual summit. Brazil’s capital city, Brasilia is the host of the 11th BRICS summit.
The BRICS 2019 is expected to focus on strengthening cooperation in the fields of science, technology, innovation and the digital economy.
The annual summit also aims to advance cooperation in the fight against transnational crime, especially organized crime, money laundering and drug trafficking.