Tuesday, March 26, 2013

5th BRICS summit began today in the South African city of Durban.

 The meeting of BRICS business forum of over 900 industry leaders is underway to further enhance trade and commerce activities between member countries. The forum has become an integral part of the annual BRICS summit. Our correspondent reports that greater economic engagements is the cornerstone of relations between BRICS nations.

 Latest data shows intra- BRICS trade has totalled 275 billion US dollars which is a quantum jump of 30 percent over the previous year. Efforts are on to sustain and pursue this positive trend more vigorously to achieve the BRICS trade target of 500 billion US dollars in two years time

The business delegation accompanying the BRICS leaders are also intensively engaged in establishing long standing BRICS business council and furthering their prospects to create BRICS development banks.

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