Russian President Vladimir Putin talked the results of the annual BRICS Summit and Shanghai Cooperation Organisation Summit (SCO) as it drew to a close last week.
Putin opened his Press Conference noting the significance of the BRICS and SCO Summits stating they were the high point of the Russian presidency and an important step in developing diversified cooperation amongst the BRICS countries.
“Each of our countries has its own path of development, its own economic growth model, and rich history and culture. This diversity, this sum total of traditions is in fact a source of the power and the great potential of both BRICS and the SCO,” Putin said.
The leaders of nearly half the worlds population and third of its GDP dined at a welcome dinner offered by Russian President Vladimir Putin.
The key documents approved by the BRICS leaders were the Ufa Declaration, the plan of action and the Economic Partnership Strategy, all containing plans on the development of the BRICS countries association and consolidation of its international status.
“They provide for comprehensive measures to deepen our coordination in foreign policy, and expand mutual trade, investment and technology exchange,” Putin said.
“We have opened the door to the practical operation of BRICS financial institutions – the New Development Bank and Contingent Reserve Arrangement, with a total capacity of $200 billion,” he said. “We have agreed with our BRICS partners that, before the year’s end, a special roadmap will be developed for major collaborative projects in infrastructure, industry and agriculture.”
Further agreements were also made on the expansion of humanitarian elements, engagement of civicl society members, and also the launching of a special website – the BRICS virtual secretariat.
From L to R: President of Brazil Dilma Roussell, Prime Minister of India Narendra Modi, President of Russia Vladimir Putin, President of The People’s Republic of China Xi Jinping, and President of South Africa Jacob Zuma,
During the SCO Summit, which was held during the same time as the BRICS Summit 2015, for the first time the decision was made to increase the number of members.
Documents were signed to begin the accession of India and Pakistan, a resolution was made to upgrade the status of Belarus as an observer, and Armenia, Azerbaijan, Cambodia, and Nepal became dialogue partners.
“We agreed to expand economic activities within the SCO, and make better use of the capacity created within the Business Council, the Energy Club and the Interbank Consortium,” Putin said.
Putin also announced plans to expand cooperation in the sphere of education and tourism within the SCO as the SCO University is already functioning as well as a programme to promote tourism and the Youth Council.
Putin then went on to answer questions from the crowd. The full transcript can be read here.
