Express News Service
NEW DELHI: Prime Minister Narendra Modi and Chinese President Xi Jinping met on the sidelines of the BRICS Summit and exchanged views on the LAC.
“On the sidelines of the BRICS Summit, PM Modi in a conversation with President Xi Jinping highlighted his concerns on the unresolved issues on the LAC in the Western Sector of the India-China border areas. PM Modi underlined that the maintenance of peace and tranquility in the border areas and observing and respecting the LAC are essential for normalisation of the India-China relationship. In this regard the two leaders agreed to direct their relevant officials to intensify efforts at expeditious disengagement and de-escalation,” said Foreign Secretary Vinay Mohan Kwatra in Johannesburg.
The two leaders were also seen shaking hands and exchanging courtesies after the joint conference of the BRICS leaders. However, there was no official word of confirmation on whether President Xi confirmed his in-person participation for the upcoming G20 Summit in Delhi.
Meanwhile, the first phase of expansion of BRICS has begun with six countries – Saudi Arabia, Iran, Ethiopia, Argentina, UAE and Egypt – set to join on January 1 2024. Russia will host the 16th BRICS Summit in 2024 in Kazan.
“On the occasion of the 15th anniversary of BRICS, we have taken the decision to expand this forum. India has always fully supported the expansion as it will make BRICS more stronger and effective,” said Prime Minister Narendra Modi welcoming the new members.
ALSO READ | BRICS to admit six new members next year; Iran, Saudi and Egypt among new entrants
PM Modi had bilateral meetings with leaders/representatives of South Africa, Iran, Ethiopia, UAE, Mozambique and Senegal.
Meanwhile, amongst the 94 points that were listed in the Johannesburg 2 Declaration, there were mentions of seeking reforms in the UN, trade in local currencies, the upcoming G20 Summit and countering terrorism.
“We support a comprehensive reform of the UN, including its Security Council, with a view to making it more democratic, representative, effective and efficient, and to increase the representation of developing countries in the Council’s memberships,” said South African President Cyril Ramaphosa.
The declaration condemned terrorism in all its forms and manifestations whenever, wherever and by whomsoever committed. It reiterated that they were committed to combating terrorism in all its forms and manifestations, including cross-border movement of terrorists, and terrorism financing networks and safe havens.
“We look forward to the successful hosting of the 18th G20 Summit in New Delhi under the Indian G20 Presidency. We note the opportunities to build sustained momentum for change by India, Brazil and South Africa presiding over the G20 from 2023 to 2025,” said President Ramaphosa.
All leaders spoke about enhancing trade in local currencies.
“We recognise the widespread benefits of fast, inexpensive, transparent, safe, and inclusive payment systems. We look forward to the report by the BRICS Payment Task Force (BPTF) on the mapping of the various elements of the G20 Roadmap on Cross-border Payments in BRICS countries,” the declaration mentioned.
BRICS members shared their views on payment infrastructures, including the interlinking of cross-border payment systems. There was emphasis on the importance of encouraging the use of local currencies in international trade and financial transactions between BRICS as well as their trading partners.
The declaration also spoke about strengthening of correspondent banking networks between the BRICS countries and enabling settlements in the local currencies.
NEW DELHI: Prime Minister Narendra Modi and Chinese President Xi Jinping met on the sidelines of the BRICS Summit and exchanged views on the LAC.
“On the sidelines of the BRICS Summit, PM Modi in a conversation with President Xi Jinping highlighted his concerns on the unresolved issues on the LAC in the Western Sector of the India-China border areas. PM Modi underlined that the maintenance of peace and tranquility in the border areas and observing and respecting the LAC are essential for normalisation of the India-China relationship. In this regard the two leaders agreed to direct their relevant officials to intensify efforts at expeditious disengagement and de-escalation,” said Foreign Secretary Vinay Mohan Kwatra in Johannesburg.
The two leaders were also seen shaking hands and exchanging courtesies after the joint conference of the BRICS leaders. However, there was no official word of confirmation on whether President Xi confirmed his in-person participation for the upcoming G20 Summit in Delhi.googletag.cmd.push(function() {googletag.display(‘div-gpt-ad-8052921-2’); });
Meanwhile, the first phase of expansion of BRICS has begun with six countries – Saudi Arabia, Iran, Ethiopia, Argentina, UAE and Egypt – set to join on January 1 2024. Russia will host the 16th BRICS Summit in 2024 in Kazan.
“On the occasion of the 15th anniversary of BRICS, we have taken the decision to expand this forum. India has always fully supported the expansion as it will make BRICS more stronger and effective,” said Prime Minister Narendra Modi welcoming the new members.
ALSO READ | BRICS to admit six new members next year; Iran, Saudi and Egypt among new entrants
PM Modi had bilateral meetings with leaders/representatives of South Africa, Iran, Ethiopia, UAE, Mozambique and Senegal.
Meanwhile, amongst the 94 points that were listed in the Johannesburg 2 Declaration, there were mentions of seeking reforms in the UN, trade in local currencies, the upcoming G20 Summit and countering terrorism.
“We support a comprehensive reform of the UN, including its Security Council, with a view to making it more democratic, representative, effective and efficient, and to increase the representation of developing countries in the Council’s memberships,” said South African President Cyril Ramaphosa.
The declaration condemned terrorism in all its forms and manifestations whenever, wherever and by whomsoever committed. It reiterated that they were committed to combating terrorism in all its forms and manifestations, including cross-border movement of terrorists, and terrorism financing networks and safe havens.
“We look forward to the successful hosting of the 18th G20 Summit in New Delhi under the Indian G20 Presidency. We note the opportunities to build sustained momentum for change by India, Brazil and South Africa presiding over the G20 from 2023 to 2025,” said President Ramaphosa.
All leaders spoke about enhancing trade in local currencies.
“We recognise the widespread benefits of fast, inexpensive, transparent, safe, and inclusive payment systems. We look forward to the report by the BRICS Payment Task Force (BPTF) on the mapping of the various elements of the G20 Roadmap on Cross-border Payments in BRICS countries,” the declaration mentioned.
BRICS members shared their views on payment infrastructures, including the interlinking of cross-border payment systems. There was emphasis on the importance of encouraging the use of local currencies in international trade and financial transactions between BRICS as well as their trading partners.
The declaration also spoke about strengthening of correspondent banking networks between the BRICS countries and enabling settlements in the local currencies.
