Brasilia, Nov 14 (GCCurrentAffairs) Prime Minister Narendra Modi has called for creating a blueprint for cooperation among BRICS countries.
“Our intra-BRICS trade and investment targets must be more ambitious. Your suggestions for further reducing the trade costs between us would be useful. I would also like to call for identification of priority business sectors for us for the next 10 years and that on the basis of this, we create a blueprint for intra-BRICS cooperation,” Mr Modi said during the BRICS Business Forum in Brasilia on Wednesday.
He argued that if one ally had created a technology, the other states might have a related raw material or market for it.
“I would also like to suggest that until the next BRICS summit, at least five areas be identified in which we can promote joint ventures between us based on our complementarities,” the Prime Minister added.
The two-day summit of BRICS states, including Brazil, Russia, India, China and South Africa, began in Brasilia on Wednesday. Apart from Mr Modi, the summit is attended by Russian President Vladimir Putin, Brazilian President Jair Bolsonaro, China’s leader Xi Jinping and South Africa’s Cyril Ramaphosa.