Brics Agreement

On July 15, the first day of the 6th BRICS Summit in Fortaleza, Brazil, the Emerging Countries Group signed the much-anticipated document on the creation of the $100 billion New Development Bank (formerly known as the BRICS Development Bank) and a pool of more than $100 billion in reserves. Documents on cooperation between BRICS export credit agencies and an innovation cooperation agreement were also falsified. [Citation required] 40. We also stress the importance of establishing a legal framework for cooperation between the BRICS to ensure security in the use of TTs. We note the activities of the BRICS Working Group on Security in the Use of ICT and welcome the review and development of proposals on this topic, including a BRICS intergovernmental agreement on security cooperation in the use of ICT and bilateral agreements between the BRICS. We reaffirm the importance of promoting cooperation within the BRICS, including by reviewing relevant initiatives and implementing the BRICS roadmap for practical security cooperation in the use of ICT. Various sources refer to a so-called „original” BRIC agreement that precedes Goldman Sachs` thesis. Some of these sources claim that Russian President Vladimir Putin was the driving force behind this initial cooperative coalition of the BRIC countries. However, to date, no text has been published on a formal agreement to which the four BRICs are attached.

This does not mean that they have not reached a large number of bilateral agreements, or even four. Evidence of such agreements is abundant and is available on the websites of the Ministry of Foreign Affairs in each of the four countries. Among the trilateral agreements and frameworks between the BRICs are the Shanghai Operations Organization (whose member states include Russia and China, among India`s observers) and the TRIlaterale IBSA Forum, which brings together Brazil, India and South Africa in annual dialogues. The G20 coalition of developing countries, to which all the BRICs belong, is also important. However, the introduction of free trade between BRICS members and the Eurasian Economic Union remains interesting. The EAEU has already indicated that it is ready to sign agreements with non-Eurasian countries and Morocco, Egypt, Mozambique and Namibia (border countries with BRICS member South Africa) are currently on the agenda. Russia has developed free trade zones in Africa and Asia, and China has done the same – I wrote in the article about how foreign investors can benefit from China`s Belt-Road initiative in Africa Despite the current partial lack of free trade links, it is clear that steps are also being taken to address it. This makes the prospect of a BRICS alignment with the EAEU more likely.

If this is the case, such a free trade area could be as follows: 30. We welcome the agreement reached between the heads of state and government of Azerbaijan and Armenia on a full ceasefire since 10 November 2020 in the Nagorno-Karabakh conflict zone and support further political and diplomatic efforts to create the necessary conditions for a lasting and comprehensive peace in the region. 23. We reaffirm our strong commitment to the sovereignty, independence, unity and territorial integrity of the Syrian Arab Republic.

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