The fifth summit of the BRICS (Brazil, Russia, India, China, South
Africa) "political and economic
coordination." They released their fifth summit declaraction, "BRICS
and Africa: Partnership for Development, Integration and
Industrialisation," which includes plans for a BRICS development bank.
Excerpt from eThekwini
Declaration:
"1.
We, the leaders of the Federative Republic of Brazil, the Russian Federation,
the Republic of India, the People's Republic of China and the Republic of South
Africa, met in Durban, South Africa, at the Fifth BRICS Summit. Our discussions
took place under the overarching theme, "BRICS and Africa: Partnership for
Development, Integration and Industrialisation". The Fifth BRICS Summit
concluded the first cycle of BRICS Summits and we reaffirmed our commitment to
the promotion of international law, multilateralism and the central role of the
United Nations (UN). Our discussions reflected our growing intra-BRICS
solidarity as well as our shared goal to contribute positively to global peace,
stability, development and cooperation. We also considered our role in the
international system as based on an inclusive approach of shared solidarity and
cooperation towards all nations and peoples.
2. We met
at a time which requires that we consider issues of mutual interest and
systemic importance in order to share concerns and to develop lasting
solutions. We aim at progressively developing BRICS into a full-fledged
mechanism of current and long-term coordination on a wide range of key issues
of the world economy and politics. The prevailing global governance
architecture is regulated by institutions which were conceived in circumstances
when the international landscape in all its aspects was characterised by very
different challenges and opportunities. As the global economy is being
reshaped, we are committed to exploring new models and approaches towards more
equitable development and inclusive global growth by emphasising
complementarities and building on our respective economic strengths.
3. We are
open to increasing our engagement and cooperation with non-BRICS countries, in
particular Emerging Market and Developing Countries (EMDCs), and relevant
international and regional organisations, as envisioned in the Sanya
Declaration. We will hold a Retreat together with African leaders after this
Summit, under the theme, "Unlocking Africa's potential: BRICS and Africa
Cooperation on Infrastructure". The Retreat is an opportunity for BRICS
and African leaders to discuss how to strengthen cooperation between the BRICS
countries and the African Continent.
4. Recognising
the importance of regional integration for Africa's sustainable growth,
development and poverty eradication, we reaffirm our support for the
Continent's integration processes.
5. Within
the framework of the New Partnership for Africa's Development (NEPAD), we
support African countries in their industrialisation process through
stimulating foreign direct investment, knowledge exchange, capacity-building
and diversification of imports from Africa. We acknowledge that infrastructure
development in Africa is important and recognise the strides made by the
African Union to identify and address the continent's infrastructure challenges
through the development of the Programme for Infrastructure Development in
Africa (PIDA), the AU NEPAD Africa Action Plan (2010-2015), the NEPAD
Presidential Infrastructure Championing Initiative (PICI), as well as the
Regional Infrastructure Development Master Plans that have identified priority
infrastructure development projects that are critical to promoting regional integration
and industrialisation. We will seek to stimulate infrastructure investment on
the basis of mutual benefit to support industrial development, job-creation,
skills development, food and nutrition security and poverty eradication and
sustainable development in Africa. We therefore, reaffirm our support for
sustainable infrastructure development in Africa."
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