New Delhi (India) September 12: Prime Minister Narendra Modi on Friday encouraged the BRICS Business Council to submit a report listing the top ten barriers of trade between BRICS countries and also emphasized to boost 100 BRICS startups every year enabling them to enter markets of other member states of BRICS. PM Modi had also demanded a thousand business collaborations of BRICS countries and said that these three measures should be assessed every year.
"As BRICS enters its third decade, I would like to urge the BRICS Business Council: Can you prepare a report on removing the top 10 trade barriers among BRICS nations? Can we support 100 BRICS startups annually to scale up in other BRICS markets? Can we forge a thousand new partnerships among our businesses? We should review our progress on these three parameters every year. Let us transform BRICS' ambitions into action and our collective strength into global solutions. Let BRICS move forward and propel the world forward as well," PM Modi said.
Modi, Guterres Discuss Global Reforms
Prime Minister Modi on Friday met United Nations Secretary-General Antonio Guterres in Delhi on the side-lines of the BRICS Summit. The leaders noted that multipolarity is important and the UN Security Council among other international multilateral organisations should also be modified and reformed as it reflects current real world conditions.
The discussions were about the current conflict scenarios, the right to freedom and navigation, the concept of human centered artificial intelligence, achievements gained in renewable energy sources, food security around the globe.
Ramaphosa Highlights BRICS Strength
The president of South Africa, Cyril Ramaphosa declared on Friday that BRICS is a major international forum, because the grouping possesses a huge demography and economy of the world, thus its members represent half of the world's population and 40% of the world GDP.
Ramaphosa said, "BRICS is a very important forum for all of us. It's a very big collection of countries in the world. It represents a huge population. 50 per cent of the world's population lives in BRICS countries. And already now, 40 per cent of GDP is in BRICS, so we are an important forum.”
Ramaphosa made this remark at the time when the BRICS bloc, expanded further, aimed for enhanced economic collaboration within itself against the altering situations in world trade, technology and investments patterns.
Goyal Pushes Digital Payment Integration
Union minister Piyush Goyal in his address on Friday called upon the BRICS countries to integrate the respective payment methods of their nations, promote local currency trade and easy trade related digital access for everyone in world trade.
"Today, it (UPI) is also accepted in 11 countries and I would urge the BRICS member countries and partner countries to link our payment systems, trade in each other's local currencies, make digital trade global and build together for the future emerging technologies," he said.