BRICS to step up economic cooperation www3.nhk.or.jp
The 5 so-called BRICS economies have agreed to step up cooperation in a bid to forge closer business and trade ties.
The top leaders of Brazil, Russia, India, China, and South Africa ended a 2-day summit in the southern Indian city of Goa on Sunday.
Indian Prime Minister Narendra Modi said in writing that the leaders discussed what the BRICS nations can do to be the driving force for the world economy.
They adopted a joint statement which focuses on stepping up economic cooperation, including boosting infrastructure investment in each other's nations. The countries also plan to work together in trade, manufacturing, agriculture, and energy.
But the unity among the 5 nations is not quite solid. The Indian economy remains robust, while the rest are losing steam. India and China are divided over nuclear cooperation.
Observers have pointed out that the BRICS countries are losing their influence as a group. Their latest agreement on economic cooperation is seen as a way to boost their presence in the international community.
Published Date:2016-10-17