Leaders of the BRICS countries – Brazil, Russia, India, China and South Africa – on the sidelines of the G20 summit in Osaka Japanese have exchanged opinions on topical issues.
As stated by the President of the presidency of the organization of the South American Republic of Air Bolsonaro, this meeting will simplify the task of finding points of contact and will allow a better understanding of the position of the BRICS on the issues of the summit.
During the meeting, Russian leader Vladimir Putin urged his colleagues in the BRICS to the integration of payment systems and the reform of the IMF. He also drew attention to the importance of the protection of consumers on the Internet.
In turn, the Chinese President XI Jinping said BRICS countries need to improve their competitiveness and participate more actively in global innovation cooperation.
The BRICS countries also intend to work on the issue of reforming the WTO, the reform needs to preserve the Central role of the WTO in the international trading system, they believe.
Following the meeting, the five Nations issued a joint statement, it noted that the global economy is showing signs of stabilization, is projected to moderate growth up to 2020. The share of BRICS countries accounts for almost a third of world production. According to forecasts, in the period up to 2030 “five” will continue to provide more than half of global economic growth.
The next BRICS summit will be held in the summer of 2020 in Russia.