Showing posts with label Delhi Declaration. Show all posts
Showing posts with label Delhi Declaration. Show all posts
The BRICS countries signed two agreements to initiate trade in their local currencies . Following the fourth BRICS Summit in New Delhi on Thursday, the five emerging economies also agreed on a joint working group to set up a development bank that will extend credit facilities to member countries in local currencies.
The master agreement is aimed at reducing the demand for fully convertible currencies like dollar, euro and pound etc for transactions among BRICS nations. This will help reduce the transaction costs of intra-BRICS trade. The joint working group will be required to submit a report on the initiative by the next Summit.
In a joint media statement, the Prime Minister Dr. Manmohan Singh said the agreements would boost trade among the BRICS countries. At the same time, he pressed for easing of business visas to facilitate increase in intra-grouping trade and investment.
Summing up the sense of the meeting, Dr. Singh said all the five countries were affected by the global economic slowdown, volatility in food and energy prices, political uncertainty in West Asia and the rise of terrorism and extremism.
Earlier, addressing the BRICS Summit, Dr. Singh advocated from improvement in global governance. He said BRICS should speak in one voice on important issues like UN Security Council reforms. He also sought international cooperation on issues like energy, food and water security.
At their Summit meeting , Prime Minister Manmohan Singh, Chinese President Hu Jintao, Russian President Dmitry Medvedev, Brazilian President Dilma Rousseff and South African President Jacob Zuma pitched for close coordination among the five leading economies to meet the challenges being witnessed in the global scenario.
In a Joint Delhi Declaration adopted after the summit the leaders underlined that dialogue was the only way to resolve issues related to Iran and Syria. Expressing deep concern over the situation in Syria, the leaders called for an immediate end to all violence and violations of human rights .
On Iran, the BRICS leaders voiced concern over the situation emerging around its nuclear programme and said it cannot be allowed to escalate into conflict as it could have disastrous consequences which will be in no one's interest.
The Delhi declaration recognized that stability, peace and security of West Asia and North Africa hold vital importance for all member nations and also for the international community .
The declaration said, the immediate priority at hand is to restore market confidence and get global growth back on track. It also called for a more representative international financial architecture .
The BRICS nations also agreed to continue efforts for the successful conclusion of the Doha round.
AIR correspondent reports, the Delhi Declaration issued at the end of the summit reflects the shared perception of the BRICS countries, which account for 40 percent of global GDP and nearly half the world's
The master agreement is aimed at reducing the demand for fully convertible currencies like dollar, euro and pound etc for transactions among BRICS nations. This will help reduce the transaction costs of intra-BRICS trade. The joint working group will be required to submit a report on the initiative by the next Summit.
In a joint media statement, the Prime Minister Dr. Manmohan Singh said the agreements would boost trade among the BRICS countries. At the same time, he pressed for easing of business visas to facilitate increase in intra-grouping trade and investment.
Summing up the sense of the meeting, Dr. Singh said all the five countries were affected by the global economic slowdown, volatility in food and energy prices, political uncertainty in West Asia and the rise of terrorism and extremism.
Earlier, addressing the BRICS Summit, Dr. Singh advocated from improvement in global governance. He said BRICS should speak in one voice on important issues like UN Security Council reforms. He also sought international cooperation on issues like energy, food and water security.
At their Summit meeting , Prime Minister Manmohan Singh, Chinese President Hu Jintao, Russian President Dmitry Medvedev, Brazilian President Dilma Rousseff and South African President Jacob Zuma pitched for close coordination among the five leading economies to meet the challenges being witnessed in the global scenario.
In a Joint Delhi Declaration adopted after the summit the leaders underlined that dialogue was the only way to resolve issues related to Iran and Syria. Expressing deep concern over the situation in Syria, the leaders called for an immediate end to all violence and violations of human rights .
On Iran, the BRICS leaders voiced concern over the situation emerging around its nuclear programme and said it cannot be allowed to escalate into conflict as it could have disastrous consequences which will be in no one's interest.
The Delhi declaration recognized that stability, peace and security of West Asia and North Africa hold vital importance for all member nations and also for the international community .
The declaration said, the immediate priority at hand is to restore market confidence and get global growth back on track. It also called for a more representative international financial architecture .
The BRICS nations also agreed to continue efforts for the successful conclusion of the Doha round.
AIR correspondent reports, the Delhi Declaration issued at the end of the summit reflects the shared perception of the BRICS countries, which account for 40 percent of global GDP and nearly half the world's
international news
The US President, Barack Obama, has told his Chinese counterpart, Hu Jintao, that both their countries have an interest in addressing the nuclear programme in Iran and North Korea. President Obama urged Beijing to do more to restrain his Communist ally.
Mr Obama said that America would not allow more and more regimes to possess the world's most deadly weapons. He also said that the United States would work with Russia to pursue further reductions in their nuclear arsenals.
Global challenges to tackle international terrorism, climate change, food and energy security, developmental issues and the international financial crisis will dominate the agenda of the fourth BRICS Summit taking place in New Delhi next week. Presidents of the BRICS countries including Russian President Dimitry Medvedev, Chinese President Hu Jin Tao, President Dilma Rousseff of Brazil and President Jacob Zuma of South Africa are expected to participate in the summit.
India will assume the Chairmanship of the BRICS Grouping at the Summit on the 29th of this month. the summit envisages to increase trade and investment between the members of the grouping and also reflect on global peace, security, stability among other issues. He said, two Frame work Agreements including one on Interbank Cooperation Agreement are also to be signed by the member nations. An Action plan and a Delhi Declaration will be issued at the end of the Summit.
He said, the President of Brazil Dilma Rousseff will also be extending her stay after the Summit on a State Visit to India.
The US President, Barack Obama, has told his Chinese counterpart, Hu Jintao, that both their countries have an interest in addressing the nuclear programme in Iran and North Korea. President Obama urged Beijing to do more to restrain his Communist ally.
Mr Obama said that America would not allow more and more regimes to possess the world's most deadly weapons. He also said that the United States would work with Russia to pursue further reductions in their nuclear arsenals.
Global challenges to tackle international terrorism, climate change, food and energy security, developmental issues and the international financial crisis will dominate the agenda of the fourth BRICS Summit taking place in New Delhi next week. Presidents of the BRICS countries including Russian President Dimitry Medvedev, Chinese President Hu Jin Tao, President Dilma Rousseff of Brazil and President Jacob Zuma of South Africa are expected to participate in the summit.
India will assume the Chairmanship of the BRICS Grouping at the Summit on the 29th of this month. the summit envisages to increase trade and investment between the members of the grouping and also reflect on global peace, security, stability among other issues. He said, two Frame work Agreements including one on Interbank Cooperation Agreement are also to be signed by the member nations. An Action plan and a Delhi Declaration will be issued at the end of the Summit.
He said, the President of Brazil Dilma Rousseff will also be extending her stay after the Summit on a State Visit to India.
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