Brazil to host Brics summit in November
Brazil will host a Brics (a bloc formed by Brazil, Russia, India, China, and South Africa) summit meeting for the third time. The assembly has been confirmed to take place on November 13 and 14, in Brasília, and to be attended by chancellors from all five countires. In 2010, the gathering was held in Brasília, and, in 2014, in Fortaleza.
With Brazil as Brics’s pro tempore president, priorities are expected to focus on science, technology, and innovation deals, incentives for digital economy, the fight against transnational illicit substances, and funding for productive activities.
Also expected to take place is the inauguration of the regional office of Brics’s New Development Bank (NDB) in December. The goal is to finance sustainable infrastructure and development projects in member countries, and come closer to reaching its full potential for beneficiaries in Brazil.
Before the November summit, a meeting is slated to take place in June in Osaka, Japan, during a the G20 Summit meeting (with the world’s top economies). In July, Brics chancellors will meet in Rio de Janeiro, then in New York in September, for the UN General Assembly.
Details
Russia, India, China, and South Africa, the other four members of Brics, were the destination of 30.7 percent of Brazilian exports in 2018. Goods purchased by these countries added up to $73.8 billion, compared to the $56.4 billion in 2017).
From these four countries came 23.8 percent of national imports, a total of $43.1 billion. Brazil’s commercial balance with Brics stood at a positive $30.7 billion (up from $23 billion in 2017), the equivalent of 52 percent of Brazil’s commercial surplus in the year.
