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BRICS summit ends its work on Wednesday

July 16, 2014, 1:13 UTC+3 FORTALEZA
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FORTALEZA, July 16. /ITAR-TASS/. The summit meeting of heads of state of BRICS countries, namely Brazil, Russia, India, China, and South Africa ends in the Brazilian capital city Brasilia on Wednesday. The BRICS leaders will arrive in the capital city to have a meeting in the outreach format along with the leaders of a number of Latin American countries.

Contacts in such format, which was initiated at the last BRICS summit in South Africa when the BRICS leaders met with leaders of the African Union, were successfully developing, Russian President Vladimir Putin said on Tuesday. “I think such contacts with the leaders of various regions promote the growth of authority of our association,” he noted.

On the first day of the BRICS summit, the leaders - Dilma Rousseff, Vladimir Putin, Narendra Modi, Xi Jinping and Jacob Zuma - worked in the city of Fortaleza in Brazil’s northeastern coast. They had two meetings, in a narrow an extended format, and discussed most pressing problems at a working breakfast.

The results of the meetings will be committed to paper in final documents - the Fortaleza Declaration and the Fortaleza Action Plan, which will assess the current global political and economic situation and reflect the BRICS countries’ common approaches to key issues of international cooperation. Apart from that, the leaders approved a treaty on a BRICS pool of foreign currency reserves and an agreement on the BRICS Bank of Development.

On Wednesday, the Russian president will round off his Latin American tour. Along with Brazil, Putin visited Cuba, Nicaragua and Argentina.

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