During the meeting Has also signed a Memorandum of Understanding (MoU) on cooperation between the Bank's member countries, including Banco Nacional de Desenvolvimente Economico e Social (BNDES), Brazil, China Development Bank Corporation (CDB), Export-Import Bank of India (. Exim Bank India) and State Corporation Bank for Development and Foreign Economic Affairs (Vnesheconombank), Russia to facilitate and support the implementation of the finance projects with common interests. Including the issue of cross border transactions to strengthen and expand trade relations and economic addition, the meeting also study the possibility of founding interbank between Member States, with a summit BRIC 3rd place at the city. Sanya, Hainan, China on April 14, 2553, the President of South Africa have come to attend this meeting. At the end of the year, it has received the country. South Africa became a member of the BRIC acronym, an "S" of South Africa added. Became the BRICS countries in which the adopting country. South Africa joined the group with them. Is to be the gateway to Africa. Both in terms of investment and development. In this meeting, it also has set up a slogan. "Visionary Success Together (Broad vision, Shared Prosperity) "in order to create a close-knit cooperation among BRICS countries, along with the development of cooperation in social, political, and international trade in each region for mutual convenience. Stance on issues International financial institutions of BRICS is still the same, should provide quota for developing countries and economies are growing up. Instead of monopoly power or high places with any one group. Stabilize the economic development by investing in concrete instead of investing in the financial markets, the markets are volatile and unpredictable at times. Environmental BRICS support the economy and society to adapt to the conditions. The climate change (Climate Change) and ready to comply with the Kyoto Protocol (Kyoto Protocol) has supported the development and use of renewable energy. And sees Nuclear power is an important energy source for the future of BRICS in science and sustainable development BRICS have to support infrastructure in Africa within the framework. Partnership for Africa's Development (New Partnership for Africa's Development: NEPAD) to promote innovation and technology. In particular, the development of space science The Patriot BRICS have a special interest in the prevention of espionage. And cybercrime 4th BRICS Summit held in New Delhi, India, on 29 March 2555 issue of this meeting is BRICS have agreed to consider the possibility of establishing. "Bank of the South - South" (South - South Development Bank) or the "Bank BRICS" (BRICS Bank) to promote investment between. The call for funding of financial institutions in member countries. Aside from the World Bank Asian Development Bank As well as other international financial institutions, although the idea of establishing such financial institutions have failed to be implemented substantially. The BRICS summit in this country have signed an agreement that allows financial institutions to provide loans to members of their own currencies. And multilateral agreements governing the Confirmation Letter of Credit (Agreement on Letter of Credit Confirmation Facility), which gives the BRICS member countries to reduce dependence on the dollar. It also reduces the risks of fluctuations in foreign exchange markets and reduce the costs of trade, the agreement can help promote trade and investment between the Member States as well with this BRICS is issued. derivatives Benchmark Equity Index, which allows investors from member countries, one can invest in the stock of another country, one without the foreign exchange risk to the global economy, BRICS has a stand in the arena of international politics on the issue of the. Tensions between Iran and the West, the BRICS have the rights of Iran to continue its nuclear program for peaceful purposes. And encouraged to solve such problems by means of diplomacy. To prevent the problem from spreading into the conflict. For the political crisis in Syria, the BRICS support for peace in the country through negotiation and peaceful means. The Syrians are the mainstay of the process of the 5th BRICS Summit held in Durban, South Africa, during 26-27 March 2556 approved the establishment. "Bank of BRICS (BRICS Development Bank)" as a source of funds for development projects, infrastructure projects and long-term development for the BRICS countries and developing countries. Establishment constitute an alternative to the global financial economy. Organizations like the World Bank and the IMF to reduce the dependence of which is currently under the influence of the West. The concept was presented in the BRICS summit last year. The establishment of a development bank will require planning structure because there are many issues to deal with, such as a capital of the Bank. The size of the investment of each party. And voting rights This will require funding of about 4.5 trillion US dollars. And at least 5 years to develop the infrastructure of bank facilities. Members approved the agreement establishing reserves for emergencies (Contingency Reserve Arrangement: CRA) together worth 1 billion US dollars. To strengthen and protect the financial risk of the 5 countries from the global financial conditions and the volatile group leader also highlighted the importance of small and medium-sized enterprises. Thus establishing a framework for cooperation in order to enhance the exchange and cooperation between countries. In terms of trade, research and promotion of innovation has been prepared.
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