Prime Minister Narendra Modi on Wednesday (November 13) hoped that the Brics summit will enhance the economic and cultural linkages between the member nations as he arrived to take part in the two-day meeting of the emerging market bloc here in the Brazilian capital.
“Reached Brazil to take part in the BRICS Summit. Will also meet various world leaders during this visit,” Modi tweeted soon after his arrival here.
On the sidelines of the 11th Brics summit, Modi will meet Brazilian President Jair Bolsonaro to discuss ways to enhance the bilateral strategic partnership.
The prime minister is scheduled to hold separate bilateral meetings with Russian President Vladimir Putin and Chinese President Xi Jinping on Wednesday.
“I am sure the BRICS Summit will enhance cultural and economic linkages between BRICS nations,” he said.
Brics is the acronym coined for an association of five major emerging national economies – Brazil, Russia, India, China and South Africa. This year’s event is being held under the theme Brics: Economic Growth for an Innovative Future.
This will be the sixth time Modi is participating in the Brics summit, his first being at Fortaleza, also in Brazil in 2014.
Describing his welcome as “as vibrant as BRICS itself,” spokesperson of the Ministry of External Affairs Raveesh Kumar tweeted, “PM @narendramodi arrives in Brasilia to participate in the 11th #BRICS Summit. This year’s Summit under the theme “BRICS: Economic Growth for an Innovative Future” will further strengthen the traditional ties among the BRICS countries.”
Brazil is the current chair of the grouping which represents over 3.6 billion people, or half of the world population and they have a combined nominal GDP of $16.6 trillion.
During the summit, the five major economies of the world will aim to significantly strengthen their cooperation in science, technology and innovation, Modi said in his departure statement.
The Brics countries will also look to enhance cooperation on digital economy and build mechanisms for counter-terrorism cooperation within the Brics framework, Modi said.
He would also attend the Brics business forum closing ceremony and the closed and plenary sessions of the 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.
A Brics memorandum of understanding between trade and investment promotion agencies is expected to be signed.