BRICS summit to discuss trade, cooperation: S.Africa

The 12th BRICS Summit slated to take place virtually on Tuesday will discuss trade and people-to-people cooperation among other issues, said the office of the South African Presidency.

“Leaders will be focused on strengthening intra-BRICS relations and mutually beneficial cooperation across the BRICS pillars of cooperation, namely, political and security, economic and finance, social, and people-to-people cooperation,” Xinhua news agency quoted acting presidency spokesperson Tyrone Seale as saying on Monday.

He said that BRICS leaders will get reports from the BRICS national security advisors, BRICS Business Council, New Development Bank, BRICS interbank cooperation mechanism and BRICS women’s business alliance.

BRICS is an acronym for five major emerging countries — Brazil, Russia, India, China and South Africa, which together represent about 42 percent of the global population, 23 per cent of global GDP, 30 per cent of world territory and 18 per cent of global trade.