PM arrives in Berlin en route to Brazil to attend BRICS Summit
Berlin: Prime Minister Narendra Modi arrived here on Sunday for an overnight stopover on his way to Brazil for a summit meeting of the BRICS nations that will address regional crises and security threats to restore a climate of peace while advancing global economic stability.
In a departure statement in New Delhi before leaving for Berlin en route Fortaleza in Brazil for his first multi-lateral engagement with global leaders, Modi said that India looks forward to the BRICS initiative for setting up the New Development Bank and Contingent Reserve Arrangement.
The BRICS Development Bank with a corpus of USD 100 million will fund projects in a number of countries and other developing countries. India along with China are in contention for establishing its headquarters either in New Delhi or in Shanghai.
Modi is visiting Brazil at the invitation of Brazilian President Dilma Rousseff to attend the Sixth BRICS Summit being held in Fortaleza and Brasilia on 15-16 July.
The Prime Minister noted that the meeting is taking place at a time of political turmoil, conflict and human crisis in several parts of the world.
There is also persisting weaknesses and unrest in the global economy. Many emerging economies have experienced a slowdown which has increased the challenge of pursuing inclusive and economic development, he said.
"I look at the BRICS Summit as an opportunity to discuss with my BRICS partners how we can contribute to international efforts to address regional crises, address security threats and restore a climate of peace and stability in the world," he said.
"I also look forward to our discussions to further advance intra-BRICS economic cooperation and our collective efforts to advance global economic stability and prosperity. In particular, I look forward to the successful conclusion of major BRICS initiatives, like the New Development Bank and the Contingent Reserve Arrangement, which have seen significant progress since their launch in New Delhi in 2012," he said.
More from India
More from World
More from Sports
More from Entertaiment
- Trump-Sharif conversation: Team Donald denies Pakistan's claims
- Hizbul commander Musa issues threats of attacks in new video
- 'Heart of Asia' Conference begins in Amritsar; Sartaj Aziz to pay a visit on Sunday
- Panel discussion over Mamata Banerjee's false allegations on Indian Army for political gains
- Watch - Parrikar's reply to Mamata's military coup claim
- Gujarat businessman declares highest ever black money amount – Rs 13,000 crore!
- Army proves Mamata Banerjee wrong, releases letter showing West Bengal govt knew of exercise
- Rs 14,000 crore default case: Gujarat businessman detained, says money belongs to politicians, babus
- Scam? 'Aam Aadmi Party using Delhi Transport Corporation to exchange Rs 500, Rs 1,000 notes'
- Manohar Parrikar exposes Mamata's attempt to politicise routine Army exercise in Kolkata