Brazilian President Michel Temer criticised protectionism in his latest meeting with leaders of the BRICS group, a bloc made up of Brazil, Russia, India, China and South Africa, an informal meeting organised within the framework of the G20 summit in Buenos Aires.
Temer recalled that the BRICS emerged to confront the economic crisis of 2008 and that it was an example of how joint responses serve collective problems: "After 10 years, we are again facing challenging times that involve tendencies towards protectionism, isolationism, unilateralism; we need collective responses and to stay together with the idea of joining forces," he said at the meeting, according to a message on the social network Twitter.
Concrete steps
The Brazilian leader welcomed the "concrete steps" taken by the BRICS, such as the consolidation of the New Development Bank with the opening of an office in Sao Paulo. Temer believes that this trend “must gain renewed impetus.”
Temer will hand over the presidency on January 1 to candidate Joa Bolsonaro.
We are consolidating either Novo Banco de Desenvolvimento, or Banco do #BRICS, perhaps the greatest symbol of our capacity for cooperation. The Bank has not yet shown itself to be profitable, having multiplied the more than US$ 4 billion that we invested in it. pic.twitter.com/Tid199vMFn
— Michel Temer (@Michel Temer) November 30th 2018
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