Thursday, March 29, 2012

Avoid disruptions to trade, Manmohan urges BRICS Summit

At the BRICS summit being held at New Delhi Prime Minister Manmohan Singh asked to  avoid  political disruptions that create volatilities in global energy markets affecting trade flow. The BRICS Summit discuss ways to enhance intra-BRICS trade and review the situation in the region.

Addressing the fourth BRICS Summit, Prime Minister Manmohan Singh also said that the grouping has agreed to examine in “greater detail” a proposal to set up a South-South development bank, funded and managed by BRICS and other developing countries.
He also urged member countries to speak in one voice on key issues such as UNSC reforms.
The Summit is being attended by Brazilian President Dilma Roussef, Chinese president Hu Jintao, South African president Jacob Zuma and Russian president Dmitry Medvedev besides Dr.Singh.
The BRICS (Brazil, Russia, India, China and South Africa) represent over 40 per cent of the world’s population and the leaders of the five countries discussed ways to enhance intra-BRICS trade and review the situation in the region.
Touching upon the issue of terrorism, Dr. Singh said the countries should enhance cooperation against terrorism and other developing threats such as piracy, particularly emanating from Somalia.

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