{"id":49106,"date":"2019-11-19T15:37:07","date_gmt":"2019-11-19T10:07:07","guid":{"rendered":"https:\/\/www.oliveboard.in\/blog\/?p=49106"},"modified":"2019-11-19T15:37:07","modified_gmt":"2019-11-19T10:07:07","slug":"11th-brics-summit-2019","status":"publish","type":"post","link":"https:\/\/www.oliveboard.in\/blog\/11th-brics-summit-2019\/","title":{"rendered":"11th BRICS Summit 2019 &#8211; Grab The Highlights Here"},"content":{"rendered":"<p style=\"text-align: justify;\">India participated in a recently held\u00a011th BRICS Summit 2019, where a total of 5 countries took part to discuss various factors that will affect the world economy.\u00a0BRICS is an acronym for the grouping of the world\u2019s leading emerging economies, namely\u00a0<span style=\"color: #000000;\"><strong>Brazil, Russia, India, China, and South Africa. <\/strong>BRICS <span style=\"color: #333333;\">officially came into existence in the year 2010. In this blog, we will see a few facts about the BRICS countries, its formation and the highlights of the 11th BRICS Summit 2019, held this year.<\/span><\/span><\/p>\n<p style=\"text-align: center;\"><a href=\"https:\/\/www.oliveboard.in\/blog\/daily-current-affairs-update-19-nov-2019\/\" target=\"_blank\" rel=\"noopener\"><strong><span style=\"color: #3366ff;\">Read Daily Current Affairs Here<\/span><\/strong><\/a><\/p>\n<h2><span style=\"color: #000000;\"><strong>11th BRICS Summit 2019 &#8211; About<\/strong><\/span><\/h2>\n<p style=\"text-align: justify;\">BRICS Summit was organized in the city of Brasilia, Brazil for the year 2019 on 13th &amp; 14th Nov.\u00a0The\u00a0theme\u00a0of the 2019 BRICS summit is\u00a0<strong><span style=\"color: #000000;\">&#8220;Economic Growth for an Innovative Future.\u201d<\/span><\/strong>\u00a0Few unknown facts about BRICS are as mentioned below:<\/p>\n<ul>\n<li>BRIC term was coined by Jim O&#8217;Neil, a British Economist (who is now the chairman of Goldman Sachs Asset Management) in 2001, on the pretext of 4 emerging and developing countries of that time.<\/li>\n<li>BRIC was officially formalized in the official meeting of the representative ministers in 2006.<\/li>\n<li>Initially, South Africa was not a member of BRIC association.<\/li>\n<li>In 2010, South Africa was introduced in the committee thus making it &#8220;<span style=\"color: #000000;\"><strong>BRICS&#8221;.<\/strong><\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\">The <strong><span style=\"color: #3366ff;\"><a style=\"color: #3366ff;\" href=\"https:\/\/www.oliveboard.in\/blog\/daily-current-affairs-update-19-nov-2019\/\" target=\"_blank\" rel=\"noopener\">BRICS Summit<\/a><\/span><\/strong> is conducted annually, the business leaders meet annually to discuss the approach for the improvement of the economy and also the issues that remain for concern in the foregone year.\u00a0BRICS comprises 42.58% of the world&#8217;s population, has 50% of the global economic growth, around 17% of the world trade and 13.24 of the World Bank voting power.<\/p>\n<p style=\"text-align: center;\"><span style=\"color: #3366ff;\"><strong><a style=\"color: #3366ff;\" href=\"https:\/\/www.oliveboard.in\/bank-exams\/?ref=tsh\" target=\"_blank\" rel=\"noopener\">Join Oliveboard For Banking &amp; Government Exams<\/a><\/strong><\/span><\/p>\n<p style=\"text-align: justify;\">The Chairmanship of the Forum is rotated on an annual basis in the order of B-R-I-C-S. Currently, Brazil holds the chair for this session.<\/p>\n<p>Representatives for the BRICS Summit 2019 were as follows:<\/p>\n<ul>\n<li>Brazil &#8211; Prime Minister Jair Bolsonaro<\/li>\n<li>Russia &#8211; President Vladimir Putin<\/li>\n<li>India &#8211; Prime Minister Narendra Modi<\/li>\n<li>China &#8211; Premier Xi Jinping<\/li>\n<li>South Africa &#8211; President Cyril Ramaphosa<\/li>\n<\/ul>\n<h3><span style=\"color: #000000;\"><strong>Highlights of BRICS Summit 2019<\/strong><\/span><\/h3>\n<p style=\"text-align: justify;\">The participating members of the BRICS association agreed and adopted the &#8216;<span style=\"color: #000000;\"><strong>Brasilia Declaration&#8217;. <\/strong><span style=\"color: #333333;\">Let&#8217;s further see what is Brasilia Declaration?<\/span><\/span><\/p>\n<p style=\"text-align: justify;\">It proposes the intervention of the UN in the international affairs that go out of hand and establish a respect for international law. This is also termed as the multilateralism.<\/p>\n<p style=\"text-align: justify;\"><strong><span style=\"color: #000000;\">Reforming Multilateral Systems<\/span>:<\/strong>\u00a0There is an urgent need to strengthen and reform the UN\u00a0and other multilateral organizations, including the &#8216;World Trade Organization&#8217; and the <span style=\"color: #333333;\">International Monetary Fund<\/span>, this step is needed to be implemented at the earliest as due to significant challenges that are faced in the governance, the emerging economies are suffering.<\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>Support to Multilateralism:<\/strong><\/span>\u00a0Multilateralism will help emerging countries protect their interests. The best example of this would be the Trade war that is going on between the US and China. Their trade war is affecting the global economy to a larger extent, which became a major concern for the countries meeting at BRICS.<\/p>\n<p style=\"text-align: center;\"><span style=\"color: #3366ff;\"><strong><a style=\"color: #3366ff;\" href=\"https:\/\/www.oliveboard.in\/bank-exams\/?ref=tsh\" target=\"_blank\" rel=\"noopener\">Join Oliveboard For Banking &amp; Government Exams<\/a><\/strong><\/span><\/p>\n<h3><span style=\"color: #000000;\"><strong>India&#8217;s stand in the BRICS Summit 2019<\/strong><\/span><\/h3>\n<p style=\"text-align: justify;\">India put forward the concern of increasing terrorism in the world. As per PM Modi&#8217;s speech in the summit, the menacing threat of terrorism has caused the world economy of huge value of $1 trillion. He proposed various steps that are needed to be taken in to account in order to overcome this loss.<\/p>\n<p style=\"text-align: justify;\">India invited the leaders of the participating countries to invest in India&#8217;s infrastructure development which will eventually help in increasing the trade participation of India.<\/p>\n<p style=\"text-align: justify;\">India also proposed to hold the\u00a0<span style=\"color: #000000;\"><strong>first meeting of BRICS Water Ministers<\/strong><\/span>\u00a0in India.<\/p>\n<h3><strong><span style=\"color: #000000;\">Few decisions on the sideline of the meeting<\/span><\/strong><\/h3>\n<p style=\"text-align: justify;\">Indian Prime Minister invited Brazilian PM as the chief guest for the Republic Day 2020 in India, Jair Bolsonaro accepted the invitations.<\/p>\n<p style=\"text-align: justify;\">Brazil has decided to grant the Indian travelers with visa-free travel.<\/p>\n<p style=\"text-align: justify;\">India and China had an informal discussion regarding the trade relations between the 2 countries. Chinese President also invited PM Narendra Modi for the 3rd informal meeting in China in 2020.<\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">&#8216;1<sup>st<\/sup>\u00a0Bilateral Regional Forum&#8217;<\/span>\u00a0between the\u00a0 Russian Provinces and the Indian States will be held in 2020.<\/p>\n<p style=\"text-align: center;\"><span style=\"color: #3366ff;\"><strong><a style=\"color: #3366ff;\" href=\"https:\/\/www.oliveboard.in\/bank-exams\/?ref=tsh\" target=\"_blank\" rel=\"noopener\">Join Oliveboard For Banking &amp; Government Exams<\/a><\/strong><\/span><\/p>\n<p style=\"text-align: justify;\">That is all from us in this blog for 11th BRICS Summit 2019. We have covered the major highlights for the 2-day meeting held in the province of Brasilia, Brazil. Hope you find this blog useful with your regular <strong><span style=\"color: #3366ff;\"><a style=\"color: #3366ff;\" href=\"https:\/\/www.oliveboard.in\/bank-exams\/?ref=tsh\" target=\"_blank\" rel=\"noopener\">current affairs<\/a><\/span><\/strong> preparations.<\/p>\n<p style=\"text-align: justify;\"><strong>Also Check:<\/strong><\/p>\n<ul>\n<li><span style=\"color: #3366ff;\"><a style=\"color: #3366ff;\" href=\"https:\/\/www.oliveboard.in\/bank-exams\/?ref=tsh\" target=\"_blank\" rel=\"noopener\"><strong>100+ Free Mock Tests<\/strong><\/a><\/span><\/li>\n<li><span style=\"color: #3366ff;\"><strong><a style=\"color: #3366ff;\" href=\"https:\/\/play.google.com\/store\/apps\/details?id=in.oliveboard.prep\" target=\"_blank\" rel=\"noopener\">Oliveboard Mobile App<\/a><\/strong><\/span><\/li>\n<li><span style=\"color: #3366ff;\"><a style=\"color: #3366ff;\" href=\"https:\/\/discuss.oliveboard.in\/?ref=tsh\" target=\"_blank\" rel=\"noopener\"><strong>Oliveboard\u2019s discuss forum<\/strong><\/a><\/span><\/li>\n<li><span style=\"color: #3366ff;\"><strong><a style=\"color: #3366ff;\" href=\"https:\/\/t.me\/obbanking\">Oliveboard Telegram Group<\/a><\/strong><\/span><\/li>\n<li><span style=\"color: #3366ff;\"><a style=\"color: #3366ff;\" href=\"http:\/\/bit.ly\/boltOct2019\" target=\"_blank\" rel=\"noopener\"><strong>Download BOLT &#8211; Our Monthly General Awareness free e-book<\/strong><\/a><\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>India participated in a recently held\u00a011th BRICS Summit 2019, where a total of 5 countries took part to discuss various<\/p>\n","protected":false},"author":50,"featured_media":49110,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-49106","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-50"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.6 (Yoast SEO v26.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>11th BRICS Summit 2019 - Grab The Highlights Here<\/title>\n<meta name=\"description\" content=\"Read all about the 11th BRICS Summit 2019 and boost your general awareness with this blog. 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I'm a dedicated Government Job aspirant turned passionate writer &amp; content marketer. My blogs are a one-stop destination for accurate and comprehensive information on exam categories like Regulatory Bodies, Banking, SSC, State PSCs, and more. I am on a mission to provide you with all the details you need, conveniently in one place. When I am not writing and marketing, you will find me happily experimenting in the kitchen, cooking up delightful treats. Join me on this journey of knowledge and flavors!\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"11th BRICS Summit 2019 - Grab The Highlights Here","description":"Read all about the 11th BRICS Summit 2019 and boost your general awareness with this blog. 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