BRICS: Areas of Cooperation, Achievements and Challenges of BRICS

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BRICS Represents
  • BRICS Represents Brazil, Russia, India, China and South Africa
  • Jim O ′ Neil coined the term BRIC
  • Russia hosted First BRIC Summit
  • South Africa joined BRIC in 2010

Areas of Cooperation

  • Economic Cooperation
  • People to People Exchange
  • Political and Security Cooperation
  • Cooperation Mechanism
    • Track I
    • Track II
    • Track III

Achievements of BRICS

World Economic Governance System

  • New Development Bank
  • Contingent Reserve Arrangement

Multi Layered Pragmatic Cooperation

  • Operationalization of the partnership on New Industrial Revolution
  • Established Dialogue Architecture

Covers Diverse Agendas

  • Focus On Intra BRICS Trade
  • Addressing Bilateral Issues

Challenges to BRICS

  • Lack of Commonality Among the members
  • No common geopolitical agenda
  • Diverging Long Term economic trajectory of members
  • No concrete achievements on key Agendas

Steps to Overcome Challenges

  • Promote Comprehensive Development
  • Facilitate Trade and Investment
  • Establish Permanent Secretariat
  • Establish Coordinating Agencies

List of BRICS Summit

List of BRICS Summit
SummitHost CountryYear
FirstRussia2009
SecondBrazil2010
ThirdChina2011
FourthIndia2012
FifthSouth Africa2013
SixthBrazil2014
SeventhRussia2015
EighthIndia2016
NinthChina2017
TenthSouth Africa2018
EleventhBrazil2019
TwelfthRussia2020

11th BRICS Summit

  • Held in Brasilia, Brazil
  • Economic growth for innovative future
  • Issues Discussed
  • New NDB regional office
  • India՚s Role

MCQs

1. The 2021 BRICS Summit is scheduled to be held in which country?

a) Brazil

b) India

c) China

d) Russia

Answer: B

2. In which year Contingent Reserve Arrangement was signed by BRICS Nations?

a) 2012

b) 2011

c) 2013

d) 2014

Answer: D

3. In which BRICS Summit the members signed the agreement on NDB?

a) 6th BRIC Summit

b) 7th BRIC Summit

c) 11th BRIC Summit

d) 5th BRIC Summit

Answer: A

4. Which of the BRICS Member is also the G20 Member?

a) Brazil

b) India

c) China

d) All of above

Answer: D

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