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5th BRICS summit

From Wikipedia, the free encyclopedia
2013 international summit in Durban, South Africa
5th BRICS Summit
← 4th26–27 March 20136th →
Host countrySouth Africa
Venue(s)Durban ICC
CitiesDurban
Participants Brazil
 Russia
 India
 China
 South Africa
Websitewww.brics5.co.za

The2013 BRICS summit was thefifth annualBRICS summit, aninternational relations conference attended by the head of states or heads of government of the five member statesBrazil,Russia,India,China andSouth Africa. The summit was held inDurban, South Africa in 2013.[1] This completed the first round of BRICS summits.

Background

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A declaration at the end of2012 BRICS summit read that: "Brazil, Russia, India and China thank South Africa for the proposal to host the 5th summit in 2013. They intend to provide multifaceted support for it."[2] The BRICS leaders are expected to discuss the establishment of anew development bank.[3] According toMikhail Margelov they will seek agreement on the amount of starting capital.[4]

Participants

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China's Xi Jinping made this the first summit of his presidency.[5]

Theheads of state/heads of government of the five countries that participated in the summit were:

Core BRICS members
Host state and leader are shown in bold text.
MemberRepresented byTitle
BrazilBrazilDilma RousseffPresident
RussiaRussiaVladimir PutinPresident
IndiaIndiaManmohan SinghPrime Minister
ChinaChinaXi JinpingPresident
South AfricaSouth AfricaJacob ZumaPresident

Gallery of participating leaders

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See also:List of BRICS summit attendees

Members:

Discussions

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The summit commenced on 26 March at 17:30 GMT. Amongst the important issues being discussed was the creation of thedevelopment bank as a follow-up from the previous summit. It sought to create an infrastructure-focused bank. The disputes over the bank were in regards to what it would do and how it would provide an equitable return on the initial investment of about US$100bn.[5]

Reactions

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Host President Jacob Zuma said the summit could address South Africa's economic problems, such as high unemployment. He added: "BRICS provides an opportunity for South Africa to promote its competitiveness. It is an opportunity to move further in our drive to promote economic growth and confront the challenge of poverty, inequality and unemployment that afflicts our country. "

Daniel Twining of theGerman Marshall Fund said: "Ironically it may be the cleavages within the BRICS grouping that more accurately hint at the future of the global order: tensions between China and Brazil on trade, India on security, and Russia on status highlight the difficulty Beijing will have in staking its claim to global leadership."[5] The media suggested the bank was way to bypass theIMF and theWorld Bank.[6]Despite high hopes for the 2013 summit, BRICS was not as involved as they had planned to be.[7]

References

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  1. ^allAfrica.com: Africa: Reporter's Notebook - All Systems Go for Brics Summit in SA (Page 1 of 2)
  2. ^ITAR-TASS: Archive - 5th BRICS summit to be held in South Africa in 2013 – declaration
  3. ^Mariam, Isa."Brics Summit expected to establish development bank."Business Day. 22 March 2013
  4. ^Arkhipov, Ilya."Russia Sees BRICS Development Bank Rebuilding ‘Aging’ World Finance."Bloomberg. 18 March 2013.
  5. ^abcBRICS reach deal over development bank – Africa – Al Jazeera English
  6. ^BRICS Nations Plan New Bank to Bypass World Bank, IMF - Bloomberg
  7. ^Kirton, John; Kulik, Julia; Bracht, Caroline (May 2014). "Generating global health governance through BRICS summitry".Contemporary Politics.20 (2):146–162.doi:10.1080/13569775.2014.907990.

External links

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