BRICS Meeting : Hosted By The Chinese NSA
National Security Adviser(NSA) recently attended a virtual BRICS meeting hosted by the Chinese NSA, aimed at strengthening “political and security cooperation” within BRICS.
Recommendations by India during the meeting:
- Cooperation on terrorism without reservations.
- Preventing the use of Information & Communication Technology(ICT) by terrorists.
- Need for urgent reform of the multilateral system
- Importance of resilient supply chains.
BRICS: Areas of Cooperation:
- Economic Cooperation
- People-to-People exchange
- Political and Security Cooperation
- Cooperation Mechanism
New Development Bank(NDB):
- NDB is headquartered in Shanghai.
- During the Sixth BRICS Summit in Fortaleza (2014) the leaders signed the Agreement establishing the New Development Bank (NDB) by the Fortaleza Declaration.
- The NDB functions on a consultative mechanism among the BRICS members with all the member countries possessing equal rights.