201911.16
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Brics Summit 2019 Final Document

Brazilian President States That He Wants to Strengthen Commercial Bonds With China and Russia

The five member Countries in BRICS (Brazil, Russia, India, China and South Africa) had their leaders meeting in the Brazilian Capital city; Brasilia. It was a closed meeting at Palácio do Itamaraty (Brazilian version of the US Capitol) that took place during the whole morning on November 14th, 2019. The economical group formed by the five emerging Countries signed a Declaration containing 73 topics related to the commercial future and international policy of its members.

all about brics 2019

A summit to strengthen commercial bonds between the member Countries.

Has Brazilian President Jair Bolsonaro become more pragmatic?

The Brazilian President Jair Bolsonaro apologized for previous declarations done during his election campaign in 2018 regarding China. According to him after his election, he changed his mind because what he said was not the actual truth. The whole content of the meeting happened behind closed doors, but we were able to know that all five Nations agreed to work for overcoming economical difficulties. According to Bolsonaro the Brazilian presence has “privileged the search for concrete results that will have positive effects to all the societies of its member Countries”.

Brazilian Economy Will Try to Recover By Means of a Decentralization Process

Still according to the President, during the Brics Conferences, Brazil will try to recover economically through a process of decentralizing and State detachment. But he still will have to face opposition of many inside his own Government and in the Brazilian civil society that thinks that this process will actually sell-out Brazilian State Companies to foreign speculative investors.

Vladimir Putin said he is willing to invest on Brics

Russian President stated that the meeting with the Business Council was a very useful instrument for Brics. He also emphasized the necessity of financing Projects in the Countries that are members of Brics and also the need to increase the number of projects financed with our local currencies.

And Xi Jinping, China’s President?

He declared that Brics Bank and the Business Council are important investment tools capable of expanding partnerships with all sides. He wishes expansion and opening the markets with “green technology”.

Narendra Modi, Prime Minister of India

According to Narendra, the Council and the Bank have come up as instruments for the cooperation between the member Countries. He stated that:

Our economies have a great necessity of financing on infrastructure and I believe that the NDB can offer a valuable support in this area

Cyril Ramaphosa, President of South Africa

He pointed out the necessity of double sided efforts to invest in the industry of transformation and in the importance that the member Countries actually make investments in South Africa.

Economical Growing for an innovative future

decisions brics 2019

Hopes for financial cooperation and development with double sided investments.

Check the main decision points of the Document worthy of mention:

  • Diminish carbon emissions according to standards defined by the Paris Agreement.
  • A more open market approach in the Economy of member Countries promoting fair competition.
  • More efforts to combat corruption in the Public Sector.
  • Encourage broad reformation of the United Nations, including the Security Council.
  • Serious concern regarding an arms race in the outer space.

Check the all the Official Documents in complete version and since 2009 at the Brics Information Centre by the University of Toronto online. You can also check the complete Declaration made in Brasília 2019 at: http://www.brics.utoronto.ca/docs/191114-brasilia.html

Conclusion

In this Post we talked about the latest economical topics related to Brics. Did you like the information shared in this article? Don’t forget to like our blog and share with all your friends all the important economical information regarding Brazil and the other Countries which are members of Brics.