18 October 2016

South Africa: Highlights From Brics 8th Annual Summit

This year marks the 10th anniversary of the BRICS co-operation mechanism. Comprising Brazil, Russia, India, China and South Africa, the bloc unites the world's five major emerging economies.

At the end of the eighth BRICS summit on 16 October in Goa, India, held under the theme of "Building Responsive, Inclusive and Collective Solutions", the bloc issued the Goa Declaration.

Brazilian President Michel Temer, Russian President Vladimir Putin, Indian Prime Minister Narendra Modi, Chinese President Xi Jinping and President Jacob Zuma attended the summit.

#5GoalsfromGoa announced by PM @narendramodi For positive direction & strong momentum of intra-#BRICS engagement. pic.twitter.com/pkZ6Wp2f1j

— BRICS 2016 (@BRICS2016) October 17, 2016

New Development Bank

BRICS members were satisfied with the approval of the first batch of loans by the New Development Bank (NDB), particularly in renewable energy projects in BRICS countries.

On a global scale

The group said it was grateful to former UN Secretary-General Ban Ki Moon for his contribution in the past 10 years and congratulated António Guterres on his appointment as the next UN chief, pledging continuous support for the world body.

Regarding the UN's 2030 Agenda for Sustainable Development, the declaration urged developed countries to honour their commitment to earmark 0.7% of gross national income for official development assistance to developing countries.

The five BRICS leaders also welcomed the G20 Action Plan on the 2030 Agenda adopted during the Hangzhou Summit and committed themselves to its implementation. In addition, the bloc pledged to enhance consultations and co-ordination on the G20 agenda, especially regarding issues of mutual interest to their countries.

In particular, the member countries would continue to work closely with G20 members to strengthen macro-economic co-operation, promote innovation and sustainable trade and investment to propel global growth, improve global economic governance, enhance the role of developing countries, strengthen international financial architecture, support industrialisation in Africa and least developed countries, and enhance co-operation on energy access and efficiency, according to the Goa Declaration.

World security

BRICS strongly condemned terrorism in all its forms and manifestations, particularly attacks against its members. It said there was no justification for acts of terror.

Member countries agreed to strengthen co-operation in combating international terrorism at the bilateral and international levels. They called on all nations to adopt a comprehensive approach to ending terrorism.

The environment

Protecting the environment is important to BRICS members. The bloc welcomed the Paris Agreement and urged countries to implement it by providing financial resources, technology and capacity building assistance to support developing countries.

The leaders also emphasised that the comprehensive, balanced and ambitious nature of the Paris Agreement reaffirmed the principles of the UN Framework Convention on Climate Change, including the principle of equity and common but differentiated responsibilities and respective capabilities, in light of different national circumstances.

Source: South African Government News Agency and SouthAfrica.info reporter

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