B.R.I.C.S. Discussion

This is beyond great. This is truly amazing! Bring in Argentina Indonesia and Iran and West is over!

The more the better and stronger it will become, though the more difficult it will become to get a consensus...

Of course at the end of the day total agreement in everything is not needed.

Argentina to join BRICS upcoming summit on Russia's invitation

Argentina has been invited to join the sixth BRICS Summit, due to take place in July in the Brazilian city of Fortaleza. The country will join the bloc of major emerging economies, made up of Brazil, Russia, India, China, and South Africa, which jointly account for as much as nearly quarter of the world's economy.

Russia voiced the news following the recent meeting held between the country’s Foreign Minister Sergei Lavrov and his Argentine counterpart Héctor Timerman, which resulted in signing a joint declaration on the non-proliferation of arms in outer space.

Argentina’s Timerman stressed the "strategic association" between both countries "is based on a common vision about the essence of international relations, values and objectives of common well-being that both nations are building."

The officials have discussed both the global and regional policies, "assuming that international conflicts have a sustainable solution" if political leaders work toward "the strengthening of a solid multilateral system based in cooperation and mutual collaboration and the non-intervention in states' domestic affairs through economic, political or military means."

Timerman, notably, "stressed Argentina’s position against double-standard" messages, referring to Western powers denouncing the referendum recently held in Crimea while the same parties supported the 2012 voting in the Malvinas Islands as their inhabitants reaffirmed their decision to stay British.

Sergei Lavrov said Russian leader Vladimir Putin will likely meet with President Cristina Fernández de Kirchner and other Latin American heads of state during Putin’s upcoming visit to the region.
Read more: http://voiceofrussia.com/news/2014_05_31/Argentina-to-join-BRICs-upcoming-summit-on-Russias-invitation-8322/

Hopefully   

BRICS planning to sign documents on development bank, currency reserve pool - Kremlin

I could definitely see the likes of Algeria, Venezuela, Kazakhstan, Iraq and Iran being apart of this:

Russia pushes for BRICS energy association




Russia is to urge its BRICS counterparts to set up an energy association that will include a fuel reserve, as well as the institute for energy policy, according to Russian presidential aide Yuri Ushakov.

"Russia will propose a number of specific issues for consideration, including establishing a BRICS energy association aimed at ensuring the energy security of its member states, and to conduct integrated research and analysis of global hydrocarbon markets. It is suggested that a fuel reserve and an energy policy institute for the BRICS will be created within this association," Russian presidential aide Yuri Ushakov told journalists on Thursday.

On top of that, Russia will suggest a network to link the leading universities of Russia, China, Brazil, India and South Africa that will specialize in economics and technology, TASS reports.

Ushakov also said the BRICS Development Bank, expected to be officially launched at next week’s summit in Brazil, will be headquartered in Shanghai. On Wednesday Russian Finance Minister Anton Siluanov said New Delhi was the other favorite.

On July 15 and July the 16 leaders of the five emerging economies will sign agreements on the $100 billion New Development Bank, a separate $100 billion contingent foreign exchange reserve pool, and a memorandum on cooperation in export-loan insurance.

BRICS leaders are also expected to discuss IMF reform that would give the emerging economies a louder say in the decision making process in the fund.

The BRICS countries represent the world’s biggest and fastest growing market in the world. The five countries are home to 40 percent of the world population (2.9 billion people) and their combined gross domestic product (GDP) grew more than 300 percent in the last decade, which compares with 60 percent for the developed economies. Mutual trade almost doubled in the 5 years to 2013 to reach $300 billion.

http://rt.com/business/171768-russia-brics-energy-association/?utm_source=browser&utm_medium=aplication_chrome&utm_campaign=chrome

BRICS bank coming to its life

Russian Direct Investment Fund: BRICS summit on Russia announce the creation of infrastructure fund investments BRICS

Putin: soon the BRICS Development Bank and create a pool of foreign exchange reserves



truly evil plan     

Putin: BRICS wants to reduce the dependence of the global monetary system of the U.S. policy

President Putin: BRICS not to create military and political alliance

MOSCOW, July 15 /ITAR-TASS/. Russia’s President Vladimir Putin stressed that Moscow had no intention to create a BRICS political alliance.
Vladimir Putin: It is time to raise the BRICS' role to a new level

“Certainly, the BRICS countries (Brazil, Russia, India, China and South Africa) intend to strengthen the political element of our cooperation. That is why we will develop the practice of mutual consultations and joint actions in international organisations, first of all, in the UN”, he told Itar-Tass in an interview ahead of the BRICS summit.

Putin said that they planned to create a virtual BRICS secretariat in the long term.

“At the same time, I would like to stress that we do not have any plans to form a BRICS military and political alliance”, he added.

BRICS bank has finally been established:










...Whats been established:

1.) The 5 BRICS nations will invest $10 billion initially separately, for a $50 billion development bank and this will eventually evolve into a $100 billion development bank, this bank will build up the developing world without killing their people with austerity.

2.) There will be a separate $100 billion wealth fund that protects each BRICS nations economies in case of economic recessions/depressions. Maybe it deals with protecting the bonds market of the 5 countries (the Euro bond market was destroyed by a collective speculative attack lead by George Soros targeting the Greek bond market with a beggar my neighbor policy to save the U.S. dollar), may'be their some currency pegging, may'be some strategic natural resource stock piling.

3.) The BRICS bank will be established in Shanghai, China and the first presidency will be in India. Narendra Modi has done it, he managed to already make India in to a bigger player in world geopolitics already so early in his presidency, he's already reconciling India and China (we may even see the border dispute finally ending), and managed to capture the hearts and minds of nationalist Indians as well as the China-friendly pro-business Indians like no other Indian politician has done!

IMF piss-ants are shaking in their casino-economic boots!

Good News on BRICS Bank , Although I wished they didnt use USD as currency but rather Gold , Euro basket.

 Expect EU and US to impose 3rd round of sanctions today on Russia.

News says Obama and Merkel will co-ordinate.

Austin wrote:Expect EU and US to impose 3rd round of sanctions today on Russia.

News says Obama and Merkel will co-ordinate.

Time to deliver S-400's, Kalibr missiles, and Iskander-M's to Syria, Iran, Cuba, Venezuela, time to pull out of the MTCR and INF treaty, time to enact the "The Glazyev Plan" of patriotic economics, time call a titanium embargo on the U.S. to cause U.S. weapon systems such as the F-35 to skyrocket in price, time to show them who's boss militarily and economically!

BRICS bank after members' conformity with domestic laws

NEW DELHI: The New Development Bank will be set up by the BRICS grouping after all the 5 signatory nations give approval to the agreement in accordance with their laws, Parliament was informed on Friday.

"The Bank will be established after each signatory country has deposited with the government of Republic of Brazil an instrument setting forth that it has accepted, ratified or approved this Agreement in accordance with its own laws," Minister of State for Finance Nirmala Sitharaman said in a written reply in the Lok Sabha.
The BRICS nations include Brazil, Russia, India, China and South Africa.

The setting up of the BRICS bank was decided in a summit on July 15 in Fortaleza, Brazil, Sitharaman said.

Nice   

Russia to Contribute $30Bln to BRICS Reserves Pool – Putin

Russia Assumes Presidency of Emerging Economies Union BRICS

In his New Year's Eve greeting to his South Africa's counterpart Jacob Zuma, Russian President Vladimir Putin pledged to strengthen the union's position in the global arena.

MOSCOW, January 1 (Sputnik) — Starting on January 1, Russia will take over the rotating presidency of the BRICS grouping of five emerging economies, which also includes Brazil, India, China and South Africa.

In his New Year's Eve greeting to his South Africa's counterpart Jacob Zuma, Russian President Vladimir Putin pledged to strengthen the union's position in the global arena, according to the Kremlin.

The BRICS countries make up about one-third of the world's population and command a combined economy of about $13.6 trillion.

Following the June summit in Brazil's Fortaleza and the creation of a BRICS development bank, many experts have speculated that an alignment between the five partner nations could provide a counterweight to the West's influence.

The next summit is scheduled to take place in July in the southern Russian city of Ufa. It is expected to fill the job of the bank's chairperson, among others.

Brazilian President confident versatile cooperation with Russia to continue developing:



http://itar-tass.com/en/russia/770235

BRICS Summit in Ufa to Discuss Creation of Manned Space Station

George1 wrote:BRICS Summit in Ufa to Discuss Creation of Manned Space Station

Excellent news!

Brazil Hopes BRICS Members to Ratify Bank Agreement Soon

BRICS to Create Own Parliamentary Assembly – Reports

Putin signs law ratifying BRICS Bank

The BRICS bank, Putin has said, “will become one of the largest multilateral financial development institutions in the world”.

“The bank and the Currency Pool, with combined resources of 200 billion dollars, lay the foundation for coordinating a macroeconomic policy between our nations,” Putin said during the 6th BRICS Summit in Brazil.

The BRICS Bank launched last year will fund infrastructure projects in Brazil, Russia, India, China and South Africa, and challenge the dominance of the Western-led World Bank and the IMF.

The Agreement will enter into force and the Bank will begin operations only after all member countries deposit their instruments of ratification with Brazil.

Central Banks of the member countries will also have to finalize an Inter-Central Bank Agreement containing the operational details of swap transactions and the Standing Committee’s Operational Procedures (SCOP) before the arrangement can be operational.

Russian Finance Minister Anton Siluanov is likely to become the bank’s first Chairman of the Board of Governors while India will nominate the first President of the BRICS Bank.

The first board meeting is supposed to take place in April in the Russian city of Ufa and the Bank is expected to start fully functioning by the end of 2015, according to the Russian Finance Ministry.

BRICS launched a $100 billion development bank and a currency reserve pool in July this year in their first concrete step toward reshaping the Western-dominated international financial system.

“The creation of the BRICS Development Bank and the Contingency Reserve Agreement (CRA) had been discussed for several years, and yet it still comes as a surprise to most Western analysts who consistently argued that the BRICS countries were too different from each other to ever agree on much,” writes Professor Oliver Stuenkel who teaches at the Getulio Vargas Foundation (FGV) in São Paulo, Brazil.

Each of the five-member countries is expected to allocate an equal share of the $50 billion startup capital that will be expanded to $100 billion.

The next BRICS Summit will be held in the Russian city of Ufa on July 9-10 this year.

Launching New Development Bank priority for BRICS — Brazilian diplomat



RIO DE JANEIRO, March 31. /TASS/. Launching the New Development Bank (NDB) and creating a reserve currency pool will be one of the top priorities for the BRICS countries during Russia’s presidency in the organization, Brazil’s sous-sherpa at BRICS, Director of Regional Mechanisms of the Foreign Ministry of Brazil Flavio Damico told TASS on Tuesday.

"During Russia’s presidency, we hope to see how mechanisms of our cooperation are developing and strengthening and [how] cooperation spheres are expanding," Damico said, commenting on the upcoming ceremony of handing over the presidency in the association to Russia on April 1. "Along with preparatory works on launching the Development Bank and a reserve currency pool in accordance with decisions made at the BRICS summit held in July last year in the Brazilian city of Fortaleza, the issues of ratifying the corresponding agreements will be discussed," he added.

"Here in Brazil we are currently working to speed up the ratification in the parliament," Damico said, adding that "Russia has gone ahead in this respect." On March 9, Russian President Vladimir Putin signed a law on ratification of the agreement that stipulated establishing the New Development Bank by BRICS countries (Brazil, Russia, India, China and South Africa).

Talking about the place and role of BRICS in the modern system of international relations, Damico said that the association "has been a significant factor in world affairs right from the moment of its establishment as countries in the group have big influence in decision-making on the international arena."

"After they began coordinating their actions, their influence has grown even more," the diplomat said. "Wide coordination between the BRICS countries became the new factor in the international life," he added. The countries in the organization are "very large and complex," and it is only logical that "there are spheres where coordination and cooperation are moving forward very fast and some spheres where more effort is needed to see tangible progress," Damico said.

The next BRICS summit will take place in Russia’s Ufa in July 2015.

Russian Commission Ratifies BRICS Currency Reserves Agreement at $100Bln

A Russian Cabinet of Ministers commission on Monday approved the ratification on an agreement to create a pool of conditional currency reserves for BRICS member states at $100 billion.

MOSCOW (Sputnik) – A Russian Cabinet of Ministers commission on Monday approved the ratification on an agreement to create a pool of conditional currency reserves for BRICS member states at $100 billion.

The Russian Foreign Ministry and Finance Ministry introduced the legislation to create the joint bank between the countries of Brazil, Russia, India, China, and South Africa (BRICS).

"The overall volume has been set at $100 billion. China's share is $41 billion, South Africa's is $5 billion, and Brazil, India and Russia's is set at $18 billion each," according to the document, published on the Cabibet of Ministers' website.

The currency pool will be maintained by a board of directors, a permanent committee, and a coordinator, whose functions will be performed by the state chairing BRICS.

A country-borrower may use up to the 70 percent maximum of state-limit funds if it has an approved International Monetary Fond (IMF) crisis stabilization program and fulfills its obligations under the agreement, according to the document. Up to 30 percent of the resources may be used without such a deal with IMF.

The agreement will be considered at a government session, according to the Russian Cabinet of Ministers.

The agreement on the creation of the pool was worked out by the finance ministries of the BRICS countries at the June 2012 meeting in Mexico.

Read more: http://sputniknews.com/business/20150407/1020554990.html#ixzz3WbjPv9Ow

Nice

BRICS Bank Must Be Launched Before July 9, Russian Finance Minister Says

Nice

BRICS Finance Ministers meet held in Washington