BRICS 2016 Summit in Goa, India
More intra-BRICS currency trade mooted
Indian Vice President Hamid Ansari
India urged greater intra-BRICS trade in each other’s currency for protection from fluctuations causing losses, while the five major emerging economies agreed to set up a joint ‘single window clearance mechanism’ for ease of doing business and cooperate in areas including e-commerce and Intellectual Property Rights.
Speaking on Thursday at the launch of the first BRICS Trade Fair, India’s Vice President M. Hamid Ansari said: “We (BRICS countries – Brazil, Russia, India, China and South Africa) need to increase our trade in each other’s currency to further pluralise trading currencies and lessen the use of a single dominant currency.”
“Transition to trade in national currencies will reduce the risk volatility and protect us from adverse fluctuations, which often cause huge economic and trade losses,” he added.
Mr. Ansari said BRICS would need to push services trade liberalisation, including through measures for easier movement of people for commercial activity. “The proposal for a BRICS visa on a long-term basis for genuine travellers is one such effort aimed at stimulating greater economic activity by enhanced mobility of our entrepreneurs,” he said.
BRICS countries account for 43 per cent of the world’s population, 15 per cent of global trade and 20 per cent of the world’s investment flows. However, intra-BRICS trade in 2014 was just $297 billion — less than five per cent of the $6.5 trillion worth trade that the five countries had with the world that year.
Besides creation of a business-friendly environment for investors and entrepreneurs, BRICS nations should support value-added trade to transform from being raw material providers into key players in the global economy, Mr. Ansari said.
In a bilateral meeting, China agreed to look into India’s demand for greater market access for rice, pharmaceuticals and IT services.
http://www.thehindu.com/news/national/telangana/article9217318.ece
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India bypassed the Iranian sanctions by trading with Tehran in rupees.
Indian Vice President Hamid Ansari
India urged greater intra-BRICS trade in each other’s currency for protection from fluctuations causing losses, while the five major emerging economies agreed to set up a joint ‘single window clearance mechanism’ for ease of doing business and cooperate in areas including e-commerce and Intellectual Property Rights.
Speaking on Thursday at the launch of the first BRICS Trade Fair, India’s Vice President M. Hamid Ansari said: “We (BRICS countries – Brazil, Russia, India, China and South Africa) need to increase our trade in each other’s currency to further pluralise trading currencies and lessen the use of a single dominant currency.”
“Transition to trade in national currencies will reduce the risk volatility and protect us from adverse fluctuations, which often cause huge economic and trade losses,” he added.
Mr. Ansari said BRICS would need to push services trade liberalisation, including through measures for easier movement of people for commercial activity. “The proposal for a BRICS visa on a long-term basis for genuine travellers is one such effort aimed at stimulating greater economic activity by enhanced mobility of our entrepreneurs,” he said.
BRICS countries account for 43 per cent of the world’s population, 15 per cent of global trade and 20 per cent of the world’s investment flows. However, intra-BRICS trade in 2014 was just $297 billion — less than five per cent of the $6.5 trillion worth trade that the five countries had with the world that year.
Besides creation of a business-friendly environment for investors and entrepreneurs, BRICS nations should support value-added trade to transform from being raw material providers into key players in the global economy, Mr. Ansari said.
In a bilateral meeting, China agreed to look into India’s demand for greater market access for rice, pharmaceuticals and IT services.
http://www.thehindu.com/news/national/telangana/article9217318.ece
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India bypassed the Iranian sanctions by trading with Tehran in rupees.
Domingo Halliburton
Handmade in USA
They should do all of that.
If US Citizens knew the implications of what this means....Russia only waiting for they GOLD Reserves to increase before they drop the hammer in November....
Russia and China are building up their gold reserves
India is notorious for sitting on theirs
Meanwhile Canada sold all their gold reserves the last 12 years
Russia and China are building up their gold reserves
India is notorious for sitting on theirs
Meanwhile Canada sold all their gold reserves the last 12 years
Canada tied to a sinking ship ( US Dollar )
they are irrelevant..unless they build some serious business ties with China...and soon....but they got oil reserves out WEST
Canada tied to a sinking ship ( US Dollar )
US Treasury got 8,000 tons of gold, #1 still
Red Shield
Global Domination
(L-R) Brazil's President Michel Temer, Russian President Vladimir Putin, Indian Prime Minister Narendra Modi, Chinese President Xi Jinping and South African President Jacob Zuma pose for a group picture during the BRICS (Brazil, Russia, India, China and South Africa) Summit in Goa, India on October 16, 2016. Reuters
BRICS vows to fight terrorism and its sponsors
Summit calls on all nations to adopt a comprehensive approach to combating global threat
The 2016 BRICS Joint Declaration after the weekend summit in Goa in India called for a comprehensive approach to combat terrorism and its sponsors.
They five member nationals also agreed to work together to combat “cross-border” terrorism, but India Prime Minister Narendra Modi’s guests held off from signing up to his fierce condemnation of India’s arch-rival Pakistan as the “mothership of terrorism”.
Strongly condemning the recent terror attacks against some BRICS countries, including India, the group said all nations should adopt a comprehensive approach to prevent the radicalization, recruitment and movement of terrorists.
They also called for the blocking of sources of financing terror through money laundering, drug trafficking and other criminal activities.
“We call upon all nations to work together to expedite the adoption of the Comprehensive Convention on International Terrorism in the UN General Assembly without any further delay,” the Goa declaration said.
Indian Prime Minister Narendra Modi said those who shelter, support and sponsor terror would be designated as terrorists.
The BRICS nations also agreed that states should cut off political support to terrorists, whether based on ideological, religious, political, racial, ethnic or other reasons.
Earlier, Modi, who is pushing to isolate Pakistan following a surge in tensions between the nuclear-armed neighbors, urged his peers to take a strong united stand against the “mothership of terrorism” in the South Asian region, in a thinly veiled reference to Pakistan.
He condemned the mindset which proclaims terrorism is justified for political gains. BRICS must speak in one voice against that threat, Modi said, without naming Pakistan directly.
Islamabad did not immediately react to Modi’s remarks.
Just weeks before the BRICS Summit, suicide attackers from across the border attacked an army camp in Uri, Jammu and Kashmir, killing 19 Indian soldiers.
Since that attack, India has been making efforts to diplomatically isolate its neighbor.
BRICS vows to fight terrorism and its sponsors
good for them. 
Congratulations to the new couple Jacob and Xi
The Odum of Ala Igbo
Hail Biafra!
Zuma is a joke. South Africa shouldn't be there.
BRICS countries will NOT respond to "TERRORISM" because all it is an attempt to delay the BRICS Bank from coming online before the GLOBAL Reset. nikkas really believe in that Zika ? Since the Olympics, whens the last time you heard about it ? 
Russia and China not dipping into reserves for no bullshyt ISIS provocation...no matter how hard Washington tries to provoke them 
They are being polite in that article...but once the BRICS comes online...get ready for the fun and games to begin...
Since the Olympics, whens the last time you heard about it ? Russia and China not dipping into reserves for no bullshyt ISIS provocation...no matter how hard Washington tries to provoke them They are being polite in that article...but once the BRICS comes online...get ready for the fun and games to begin...
ADevilYouKhow
Rhyme Reason
Children can't eat gold.
