Leaders of the countries BRICS (Brazil, Russia, India, China and South Africa) will meet from November 13 to 14 for the group’s 2009th summit in Brasilia, Brazil, under the theme “BRICS: Economic Growth for an Innovative Future.” The bloc has met annually since 2011 (with South Africa joining its first summit in XNUMX) to enhance cooperation among them as well as issues of common interest, including global governance reforms, development challenges and security issues.
The Brasilia Summit will take place in a context of growing global economic concerns. The International Monetary Fund's latest growth forecast projects a slowdown in global economic growth in 2019 due to rising geopolitical and trade tensions, and a slowdown in manufacturing activity. Throughout Brazil's Presidency, Improving intra-BRICS economic relations has been a key theme to mitigate the impact of these exogenous factors. The bloc has actively pursued the potential of the New Development Bank, created by its members in 2014 to finance infrastructure, to promote domestic economic growth, as well as increase intra-BRICS economic engagement. Enhancing economic cooperation among the bloc, while addressing factors that negatively impact global growth, will be a key focus for BRICS heads of state when they meet in Brasilia.
The presidency of Brazil has also focused on improving innovation within the BRICSThis is in line with past efforts under the BRICS presidencies to enhance cooperation on issues related to the Fourth Industrial Revolution (4IR). The BRICS are increasingly at the forefront of technological innovation, as well as on the receiving end of the negative socio-economic impacts accompanying technological change, thus offering members a perfect platform for dialogue on these issues.
Other priorities under Brazil's presidency include combating transnational crime and increasing health cooperation among BRICS members. These issues will also come up when political leaders meet in Brazil this week to make greater contributions to the world.
With information from SAIIA
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