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Tag: BRICS

  • Respecting LAC important for normalisation of India-China ties, PM Modi tells President Xi

    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,” stated Foreign Secretary Vinay Mohan Kwatra in Johannesburg.

    The two leaders had been additionally seen shaking arms and exchanging courtesies after the joint convention of the BRICS leaders. However, there was no official phrase of affirmation on whether or not President Xi confirmed his in-person participation for the upcoming G20 Summit in Delhi.

    Meanwhile, the primary section of growth of BRICS has begun with six nations – Saudi Arabia, Iran, Ethiopia, Argentina, UAE and Egypt – set to affix on January 1 2024. Russia will host the sixteenth 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,” stated Prime Minister Narendra Modi welcoming the brand new members.

    ALSO READ | BRICS to confess six new members subsequent yr; Iran, Saudi and Egypt amongst new entrants

    PM Modi had bilateral conferences with leaders/representatives of South Africa, Iran, Ethiopia, UAE, Mozambique and Senegal.

    Meanwhile, amongst the 94 factors that had been listed within the Johannesburg 2 Declaration, there have been mentions of looking for reforms within the UN, commerce in native 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,” stated South African President Cyril Ramaphosa.

    The declaration condemned terrorism in all its varieties and manifestations at any time when, wherever and by whomsoever dedicated. It reiterated that they had been dedicated to combating terrorism in all its varieties and manifestations, together with cross-border motion of terrorists, and terrorism financing networks and protected 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,” stated President Ramaphosa.

    All leaders spoke about enhancing commerce in native 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 talked about.

    BRICS members shared their views on cost infrastructures, together with the interlinking of cross-border cost methods. There was emphasis on the  significance of encouraging using native currencies in worldwide commerce and monetary transactions between BRICS in addition to their buying and selling companions.

    The declaration additionally spoke about strengthening of correspondent banking networks between the BRICS nations and enabling settlements within the native 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,” stated Foreign Secretary Vinay Mohan Kwatra in Johannesburg.

    The two leaders had been additionally seen shaking arms and exchanging courtesies after the joint convention of the BRICS leaders. However, there was no official phrase of affirmation on whether or not President Xi confirmed his in-person participation for the upcoming G20 Summit in Delhi.googletag.cmd.push(perform() googletag.show(‘div-gpt-ad-8052921-2’); );

    Meanwhile, the primary section of growth of BRICS has begun with six nations – Saudi Arabia, Iran, Ethiopia, Argentina, UAE and Egypt – set to affix on January 1 2024. Russia will host the sixteenth 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,” stated Prime Minister Narendra Modi welcoming the brand new members.

    ALSO READ | BRICS to confess six new members subsequent yr; Iran, Saudi and Egypt amongst new entrants

    PM Modi had bilateral conferences with leaders/representatives of South Africa, Iran, Ethiopia, UAE, Mozambique and Senegal.

    Meanwhile, amongst the 94 factors that had been listed within the Johannesburg 2 Declaration, there have been mentions of looking for reforms within the UN, commerce in native 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,” stated South African President Cyril Ramaphosa.

    The declaration condemned terrorism in all its varieties and manifestations at any time when, wherever and by whomsoever dedicated. It reiterated that they had been dedicated to combating terrorism in all its varieties and manifestations, together with cross-border motion of terrorists, and terrorism financing networks and protected 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,” stated President Ramaphosa.

    All leaders spoke about enhancing commerce in native 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 talked about.

    BRICS members shared their views on cost infrastructures, together with the interlinking of cross-border cost methods. There was emphasis on the  significance of encouraging using native currencies in worldwide commerce and monetary transactions between BRICS in addition to their buying and selling companions.

    The declaration additionally spoke about strengthening of correspondent banking networks between the BRICS nations and enabling settlements within the native currencies.

  • NSA Ajit Doval raises border challenge with China at BRICS

    Express News Service

    NEW DELHI:  National Security Advisor Ajit Doval, in dialog with China’s Foreign Minister Wang Yi on the sidelines of the BRICS Summit in Johannesburg, stated that efforts should be made to revive peace alongside the border areas. Wang Yi, in the meantime, spoke about enhancing mutual belief and give attention to cooperation. 

    “During the assembly, Ajit Doval conveyed that the state of affairs alongside the Line of Actual Control within the Western Sector of the India-China border since 2020 has eroded the strategic belief, and the general public and political foundation of the connection. The NSA emphasised the significance of continuous efforts to completely resolve the state of affairs and restore peace and tranquility within the border areas, in order to take away impediments to normalcy in bilateral relations,’’ in line with the Ministry of External Affairs.

    The duo additionally agreed that the India-China bilateral relationship is important not just for the 2 nations but additionally for the area and the world.

    However, only a few days in the past, India had rejected Chinese carmaker BYD’s $1 billion bid to arrange an electrical automobile manufacturing unit within the nation, citing safety considerations.  

    Wang Yi, throughout his talks with Doval, urged India to stabilise bilateral ties for the good thing about each the nations.

    The Chinese international minister known as for insurance policies of enhancing mutual belief and to give attention to consensus and cooperation, in line with a Chinese Foreign Ministry readout.

    “Whether China and India help or exhaust one another will immediately have an effect on their respective improvement in addition to the worldwide panorama,’’ Wang advised Doval, including that each the nations ought to adhere to the ‘strategic judgment’ that they pose no risk to one another and current alternatives for mutual progress.

    The Chinese readout additionally added that the Doval acknowledged that the future of each the nations was intently linked and was essential to rebuild strategic mutual belief and search widespread improvement.

    Earlier, through the ASEAN Regional Forum meet in Jakarta on July 15, Wang Yi had stated that he hoped India would supply Chinese companies with a good, clear and non-discriminatory enterprise atmosphere.

    Relations between the 2 neighbours have been notably tense lately after the Galwan incident in 2020, which left 20 Indian and 4 Chinese troopers lifeless.

    Doval meets Russian, Iranian counterparts too
    Doval additionally met his counterparts from Russia (Nikolai Patrushev) and Iran (Ali-Akbar Ahmadian). “The Russian-India cooperation on safety points in addition to an interplay within the discipline of financial system have been mentioned intimately,’’ in line with a Russian MFA readout.

    With the Iranian delegate, Doval reportedly mentioned Iran’s inclusion within the BRICS and in regards to the Chabahar port.
     

    NEW DELHI:  National Security Advisor Ajit Doval, in dialog with China’s Foreign Minister Wang Yi on the sidelines of the BRICS Summit in Johannesburg, stated that efforts should be made to revive peace alongside the border areas. Wang Yi, in the meantime, spoke about enhancing mutual belief and give attention to cooperation. 

    “During the assembly, Ajit Doval conveyed that the state of affairs alongside the Line of Actual Control within the Western Sector of the India-China border since 2020 has eroded the strategic belief, and the general public and political foundation of the connection. The NSA emphasised the significance of continuous efforts to completely resolve the state of affairs and restore peace and tranquility within the border areas, in order to take away impediments to normalcy in bilateral relations,’’ in line with the Ministry of External Affairs.

    The duo additionally agreed that the India-China bilateral relationship is important not just for the 2 nations but additionally for the area and the world.googletag.cmd.push(operate() googletag.show(‘div-gpt-ad-8052921-2’); );

    However, only a few days in the past, India had rejected Chinese carmaker BYD’s $1 billion bid to arrange an electrical automobile manufacturing unit within the nation, citing safety considerations.  

    Wang Yi, throughout his talks with Doval, urged India to stabilise bilateral ties for the good thing about each the nations.

    The Chinese international minister known as for insurance policies of enhancing mutual belief and to give attention to consensus and cooperation, in line with a Chinese Foreign Ministry readout.

    “Whether China and India help or exhaust one another will immediately have an effect on their respective improvement in addition to the worldwide panorama,’’ Wang advised Doval, including that each the nations ought to adhere to the ‘strategic judgment’ that they pose no risk to one another and current alternatives for mutual progress.

    The Chinese readout additionally added that the Doval acknowledged that the future of each the nations was intently linked and was essential to rebuild strategic mutual belief and search widespread improvement.

    Earlier, through the ASEAN Regional Forum meet in Jakarta on July 15, Wang Yi had stated that he hoped India would supply Chinese companies with a good, clear and non-discriminatory enterprise atmosphere.

    Relations between the 2 neighbours have been notably tense lately after the Galwan incident in 2020, which left 20 Indian and 4 Chinese troopers lifeless.

    Doval meets Russian, Iranian counterparts too
    Doval additionally met his counterparts from Russia (Nikolai Patrushev) and Iran (Ali-Akbar Ahmadian). “The Russian-India cooperation on safety points in addition to an interplay within the discipline of financial system have been mentioned intimately,’’ in line with a Russian MFA readout.

    With the Iranian delegate, Doval reportedly mentioned Iran’s inclusion within the BRICS and in regards to the Chabahar port.
     

  • Jaishankar meets Russian counterpart Lavrov in South Africa

    By Press Trust of India: External Affairs Minister S Jaishankar on Thursday met his Russian counterpart Sergey Lavrov in South Africa and talked about issues with bilateral and world pursuits.

    Jaishankar, who’s proper right here to participate in a conclave of the five-nation grouping BRICS (Brazil-Russia-India-China-South Africa), held talks with Lavrov on the sidelines of the BRICS Foreign Ministers’ Meeting.

    “Good to meet FM Sergey Lavrov of Russia in Cape Town this morning on the BRICS FMM sidelines. Our discussions covered bilateral matters, BRICS, G20 and SCO,” Jaishankar talked about in a tweet.

    Good to fulfill FM Sergey Lavrov of Russia in Cape Town this morning on BRICS FMM sidelines.

    Our discussions coated bilateral points, BRICS, G20 and SCO. pic.twitter.com/sgClHv3iSn
    — Dr. S. Jaishankar (@DrSJaishankar) June 1, 2023

    India will preserve the Shanghai Cooperation Organisation (SCO) and G-20 summits in July and September respectively.

    In the previous couple of months, India has flip right into a primary importer of discounted crude oil from Russia nonetheless rising displeasure inside the West over the procurement in view of the Russian invasion of Ukraine.

    India’s monetary engagement with Russia has been on a big upswing inside the last one yr, largely on account of its procurement of discounted Russian oil.

    India has not however condemned the Russian invasion of Ukraine and it has been pushing for choice of the battle by dialogue and diplomacy.

    On Wednesday, Jaishankar talked about these are nonetheless “early days” for battle choice between Ukraine and Russia as, presently, the principle goal is on points corresponding to a grain corridor, nuclear factors and points related to the alternate of prisoners of battle.

    In an interview with DD India, Jaishankar well-known that Prime Minister Narendra Modi had met every Russian President Vladimir Putin and Ukrainian President Volodymyr Zelenskyy.

    The (Brazil-Russia-India-China-South Africa) brings collectively 5 of the most important rising nations of the world, representing 41 per cent of the worldwide inhabitants, 24 per cent of the worldwide GDP and 16 per cent of worldwide commerce.

    Jaishankar may be anticipated to hold bilateral conferences alongside along with his completely different BRICS counterparts.

  • India amongst invitees to G7 summit as Japan PM seems to be wish to counter China’s assertiveness

    By Associated Press: India is among the many many eight invitees to the Group of Seven (G-7) summit in Hiroshima this week. The mix of countries invited by Japanese Prime Minister Fumio Kishida to attend the G7 summit is seen as an attempt to help efforts of countering China’s assertiveness and Russia’s invasion of Ukraine.

    The Group of Seven (G-7) summit might be a sophisticated, high-stakes diplomatic gambit meant to settle just a few of the world’s most extreme crises.

    Japanese Prime Minister Fumio Kishida has invited India, South Korea, Australia, Brazil, Vietnam, Indonesia, Comoros and the Cook Islands. He hopes this mix of countries will help efforts to face as a lot as China’s assertiveness and Russia’s invasion of Ukraine, in line with analysts.

    He moreover wants stronger ties with US allies and with creating nations and to make progress on working within the path of a nuclear-free world, one factor that seems an increasing number of troublesome amid North Korean and Russian nuclear threats.

    Here’s a take a look at what to anticipate as a result of the rich world leaders welcome these customer nations:

    PUSHBACK ON CHINA, RUSSIA

    As their excessive diplomats did ultimate month in a gathering in Nagano, Japan, the leaders of the G-7 nations – the United States, Japan, the United Kingdom, France, Germany, Canada, Italy and the European Union – will try and sort a unified entrance in the direction of the Chinese threats to Taiwan and Russia’s battle on Ukraine.

    “The G-7 is committed to upholding the international order, and most of its members are in Europe, so supporting Ukraine against Russia’s invasion is a top priority,” acknowledged Leif-Eric Easley, a professor at Ewha University in Seoul.

    “As the pillar of the G-7 in Asia, Japan is particularly focussed on updating the international order to cope with the rise of China,” Easley acknowledged. “The Kishida government’s agenda and special invitations for the Hiroshima summit reflect an effort not to contain China but to expand the international coalition defending standards for state behaviour.”

    The eight customer nations have superior political and monetary ties with China and Russia.

    India is part of the Quad group of 4 Indo-Pacific nations, along with the US, Japan and Australia. China has accused the 4 of representing an “Asian Nato”.

    On the Russia-Ukraine battle, India has abstained quite a few cases from voting on UN resolutions in the direction of Moscow, though it has confused the need for diplomacy in ending the battle. India has moreover elevated its imports of Russian oil.

    Brazil is a member of the so-called Brics group of making nations, along with China, Russia and India. Brazilian President Luiz Inácio Lula da Silva not too way back visited China to strengthen ties with its biggest commerce confederate.

    He has moreover irritated Ukraine and some inside the West collectively along with his place on the battle, not too way back suggesting that Ukraine cede Crimea to forge peace.

    Japan is courting Vietnam because of it moreover has territorial disputes with China, in line with Kim Yeol Soo, an educated at South Korea’s Korea Institute for Military Affairs.

    ‘GLOBAL SOUTH’ NATIONS

    Japanese Prime Minister Kishida has acknowledged his guidelines of customer nations shows the importance of the so-called “Global South” nations. That’s a time interval used for creating nations in Asia, Africa and Latin America.

    The G-7 nations account for about 40% of the world’s monetary train, a decrease from an estimated 80% of world gross house product inside the Nineteen Seventies.

    “When the UN adopts resolutions, you see a considerable number of its 190 or so member states are ‘Global South’ countries,” acknowledged Choi Eunmi, a Japan educated at South Korea’s Asan Institute Policy Institute.

    Indonesia’s significance for Japan, as an illustration, is linked to its plentiful pure belongings and monetary potential, acknowledged Kim, the educated.

    India is that this yr’s president of the G-20, which is seen as a significant bridge between G-7 economies and the Global South. Japan has traditionally had shut ties with India, the place Prime Minister Kishida visited in March for a summit with Indian Prime Minister Narendra Modi.

    In response to questions by the Associated Press, Japan’s worldwide ministry acknowledged the G-7 and totally different nations should cooperate with the Global South to deal with energy, meals security, native climate change, nicely being and enchancment factors.

    US ALLIES

    Japan’s invitation to South Korea shows the neighbours’ place as staunch U.S. allies with a shared security menace from North Korea’s advancing nuclear arsenal.

    In present weeks, Kishida and South Korean President Yoon Suk Yeol have taken foremost steps to boost security and monetary cooperation and to maneuver previous historic grievances stemming from Japan’s 1910-45 colonization of the Korean Peninsula.

    The Japanese worldwide ministry’s response to an AP query praised Yoon for “active diplomacy showing commitment to the peace and prosperity of the region, including announcing the Indo-Pacific strategy”.

    Kishida, Yoon and US President Joe Biden are anticipated to fulfill on the margins of the G-7 summit to debate North Korea’s nuclear ambitions, China’s rising have an effect on and the Russian-Ukraine battle.

    Australia, moreover a key US ally, has already been intently cooperating with Japan, along with in efforts to understand a “free and open Indo-Pacific”, in line with the Japanese Foreign Ministry, which known as Australia a “special strategic partner”.

    Last yr, the two nations signed a model new security settlement defending military, intelligence and cybersecurity cooperation to counter the deteriorating security outlook pushed by China’s rising assertiveness. It was the first such settlement Japan has struck with any nation other than the United States.

    OTHER ISSUES

    Some of the customer nations lead regional and totally different our our bodies. Brazil takes over subsequent yr for India as president of the G-20. Indonesia is chair of the Association of Southeast Asian Nations (ASEAN).

    Comoros leads the African Union, and the Cook Islands chairs the Pacific Islands Forum.

    Japan is stepping up its security and monetary ties with the 18 Pacific Forum nations, partly to counter rising Chinese have an effect on there. Observers say the invitation of the Cook Islands is an expression of Japanese respect to the Pacific nations, the place there’s been worry in regards to the deliberate launch of dealt with nonetheless nonetheless radioactive wastewater into the Pacific from Japan’s tsunami-wrecked Fukushima nuclear vitality plant.

    Kishida is from Hiroshima, one among many two Japanese cities hit with US atomic bombs on the end of World War II. Holding the summit in his hometown will give him a possibility to stipulate his dedication to assemble a nuclear-free world.

    Because of North Korea’s pursuit of nuclear missiles meant to deal with the US mainland, “it would be a bit awkward if Japan didn’t include South Korea, which faces North Korea’s nuclear threats on its doorstep”, acknowledged Choi, the educated.

  • BRICS nations reject ‘double standards’ in countering terrorism, name for expeditious adoption of Comprehensive Convention on International Terrorism

    The BRICS nations of Brazil, Russia, India, China and South Africa have rejected “double standards” within the world struggle towards terrorism and known as for the expeditious finalisation and adoption of the Comprehensive Convention on International Terrorism inside the UN framework.

    Brazilian Foreign Minister Carlos Alberto Franco Franca, Russian Foreign Minister Sergey Lavrov, External Affairs Minister S Jaishankar, Chinese Minister of Foreign Affairs Wang Yi and Minister of International Relations and Cooperation of the Republic of South Africa Naledi Pandor met right here Thursday for the annual BRICS Ministers of Foreign Affairs and International Relations assembly on the margins of the high-level UN General Assembly session.

    A press assertion issued after the assembly stated that the ministers expressed sturdy condemnation of terrorism in all its kinds and manifestations at any time when, wherever and by whomsoever dedicated. They “rejected double standards in countering terrorism and extremism conducive to terrorism.” The ministers known as for expeditious finalisation and adoption of the long-delayed Comprehensive Convention on International Terrorism inside the UN framework and for launching multilateral negotiations on a global conference for the suppression of acts of chemical and organic terrorism, on the Conference of Disarmament.

    The ministers recognised the menace emanating from terrorism, extremism and radicalisation. They additionally expressed their dedication to combating terrorism in all its kinds and manifestations, together with the cross-border motion of terrorists, terrorism financing networks and secure havens.

    India proposed a draft doc on the Comprehensive Convention on International Terrorism (CCIT) on the UN in 1986 but it surely has not been applied but as there isn’t any unanimity on the definition of terrorism among the many member states.

    “They reiterated that terrorism should not be associated with any religion, nationality, civilisation or ethnic group,” the assertion stated, including that the ministers reaffirmed their unwavering dedication to contribute additional to the worldwide efforts of stopping and countering the specter of terrorism on the premise of respect for worldwide legislation, particularly the Charter of the United Nations, and human rights, emphasising that States have the first accountability in combating terrorism with the United Nations persevering with to play central and coordinating function on this space.

    They additionally confused the necessity for a complete and balanced method of the entire worldwide group to successfully curb terrorist actions, which pose a critical menace, together with within the present-day pandemic setting.

    The ministers, whereas emphasising the formidable potential of the ICTs for progress and improvement, recognised the brand new potentialities they convey for prison actions and threats, and expressed concern over the rising stage and complexity of prison misuse of ICTs.

    The BRICS ministers reiterated the necessity for all international locations to cooperate in selling and defending human rights and elementary freedoms underneath the rules of equality and mutual respect. They agreed to proceed to deal with all human rights, together with the correct to improvement in a good and equal method, on the identical footing and with the identical emphasis. They agreed to strengthen cooperation on problems with widespread pursuits each inside BRICS and in multilateral fora together with the United Nations General Assembly and Human Rights Council, bearing in mind the need to advertise, defend and fulfil human rights in a non-selective, non-politicised and constructive method and with out double requirements.

    The ministers reiterated that the aims, rules and provisions of the United Nations Framework Convention on Climate Change (UNFCCC) and its Paris Agreement, particularly the precept of widespread however differentiated obligations and respective capabilities within the mild of various nationwide circumstances, should be honoured.

    They reaffirmed their nationwide and joint efforts to advertise the implementation of the Paris Agreement and, in that regard, confused the significance of the fulfilment, supply and urgency of developed international locations’ commitments to supply credible, sufficient, predictable, well timed, new and extra financing and know-how switch to growing international locations to fight local weather change.

    They additionally expressed their concern on makes an attempt to hyperlink safety with the local weather change agenda and recalled that the UNFCCC, together with the annual COP classes, is the suitable and bonafide worldwide discussion board to debate the problem of local weather change, contemplating all its points.

    The ministers reiterated that it was crucial to make sure entry to secure, high quality, efficient and reasonably priced medical countermeasures, together with vaccines, diagnostics, therapeutics and important medical merchandise to individuals from all international locations, particularly from growing international locations, together with the least developed amongst them in addition to make sure the equitable distribution of vaccines and expeditious vaccination, to fill the immunisation hole globally.

    They supported the main function of the World Health Organisation (WHO) in combating the COVID-19 pandemic, in addition to acknowledged initiatives such because the ACT-Accelerator and its COVAX Facility.

    They confused the necessity to proceed to strengthen the cooperation on testing strategies, therapeutic, analysis, manufacturing and mutual recognition of vaccines on a reciprocal foundation, the analysis on their efficacy and security in mild of recent variants of COVID-19 virus tackle new and rising points affecting personnel actions, by means of and recognition of nationwide doc of vaccination towards COVID-19 and respective testing, particularly for objective of worldwide journey.

  • BRICS members ought to present mutual assist in designation of terrorists: PM Narendra Modi

    By PTI

    NEW DELHI: Prime Minister Narendra Modi has mentioned on the BRICS digital summit that member nations ought to perceive safety issues of one another and supply mutual assist within the designation of terrorists and that this delicate concern shouldn’t be “politicised”, based on the Ministry of External Affairs (MEA).

    The feedback got here days after China blocked a joint proposal by India and the US to designate Pakistan-based terrorist Abdul Rehman Makki as a world terrorist underneath the UN sanctions committee. In a press release, the MEA offered the small print of the prime minister’s solutions and feedback on the two-day BRICS (Brazil-Russia-India-China-South Africa) summit that concluded on Friday.

    “The Prime Minister also noted that as BRICS member we should understand security concerns of each other and provide mutual support in designation of terrorists; this sensitive issue should not be politicised,” the MEA mentioned.

    After China blocked the proposal to designate Makki, Indian authorities sources mentioned the choice runs counter to its declare of combating terrorism and indicators its “double standards”. Makki has been concerned in elevating funds, recruiting and radicalising youths to resort to violence and planning assaults in India, significantly in Jammu and Kashmir, they mentioned.

    At the BRICS summit, the prime minister additionally highlighted India’s improvement partnership with Africa, Central Asia, South East Asia, and from Pacific to the Caribbean, the MEA mentioned. The BRICS brings collectively 5 of the most important growing nations of the world, representing 41 per cent of the worldwide inhabitants, 24 per cent of the worldwide GDP and 16 per cent of the worldwide commerce.

  • BRICS nations pledge to fight terror finance networks, protected heavens

    The BRICS nations on Thursday expressed robust condemnation of terrorism in all its varieties and manifestations, together with the cross-border motion of terrorists, and terrorism financing networks and protected havens.

    In a declaration issued on the finish of the 14th BRICS Summit held by way of the video hyperlink, the 5 member grouping additionally known as for expeditious finalisation and adoption of the Comprehensive Convention on International Terrorism throughout the UN framework.

    “We recognise the threat emanating from terrorism, extremism conducive to terrorism and radicalisation. We are committed to combating terrorism in all its forms and manifestations, including the cross-border movement of terrorists, and terrorism financing networks and safe havens,” mentioned the declaration.

    Prime Minister Narendra Modi participated within the digital BRICS summit, together with Chinese President Xi Jinping, Russian President Vladimir Putin and prime leaders of Brazil and South Africa.

    ALSO READ | Mutual cooperation can contribute to world post-Covid restoration: PM Modi at BRICS Summit

    “We reiterate that terrorism should not be associated with any religion, nationality, civilisation or ethnic group. We call for expeditious finalisation and adoption of the Comprehensive Convention on International Terrorism within the UN framework and for launching multilateral negotiations on an international convention for the suppression of acts of chemical and biological terrorism, at the Conference of Disarmament,” the declaration mentioned.

    The summit additionally welcomed the outcomes of the Seventh BRICS Counter-Terrorism Working Group Plenary Meeting and its 5 Subgroup Meetings.

    “We commend the Chair for hosting the Seminar on Targeted Financial Sanctions Related to Terrorism and Terrorist Financing, and look forward to organisation of the Seminar on Strengthening Counter-Terrorism Capacity Building in Developing Countries, and the BRICS Police Training Program. We also look forward to further deepening counter-terrorism cooperation,” it mentioned.

    “We look forward to further deepening counter-terrorism cooperation and reaffirm the sole authority of the UN Security Council for imposing sanctions and call for further consolidation and strengthening of the working methods of UN Security Council Sanctions Committees to ensure their effectiveness, responsiveness and transparency, while avoiding politicization of any of their proceedings including listing proposals objectively on evidence-based criteria,” it mentioned.

    The summit additionally affirmed dedication to strengthening worldwide cooperation in opposition to corruption.

    “We welcome the BRICS Initiative on Denial of Safe Haven to Corruption. We will further strengthen anti-corruption capacity building through education and training programs and enhance anti-corruption exchanges and cooperation within multilateral frameworks. We welcome the first BRICS Anti-corruption Ministerial Meeting,” it mentioned.

    The summit additionally expressed concern over the intense drug state of affairs on the earth. “We appreciate BRICS Anti-Drug Working Group’s active role in combating transnational drug trafficking and promoting global drug governance and will further strengthen drug control cooperation,” it mentioned.

    It additionally known as for coverage coordination for financial restoration from the COViD pandemic. “We reaffirm our commitment to continuing to enhance macro-economic policy coordination, deepen economic practical cooperation, and work to realise strong, sustainable, balanced and inclusive post-COVID economic recovery,” it mentioned.

    “We emphasise the importance of continued implementation of the Strategy for BRICS Economic Partnership 2025 in all relevant ministerial tracks and working groups,” it mentioned.

    ALSO READ | NSA Ajit Doval requires bolstering cooperation in opposition to terrorism at BRICS meet

    “We recognise the dynamism of the digital economy in mitigating the impact of COVID-19 and enabling global economic recovery. We take note of China’s hosting the ‘Buy BRICS’ online promotion event and endorse the BRICS Digital Economy Partnership Framework, BRICS Initiative on Trade and Investment for Sustainable Development and BRICS Initiative on Enhancing Cooperation on Supply Chains,” it mentioned.

    The declaration welcomed the institution of the Digital Economy Working Group by upgrading the E-commerce Working Group and mentioned the BRICS nations have agreed to advertise shopper safety in e-commerce by advancing the implementation of BRICS Framework for Consumer Protection in E-commerce.

    “We agree to strengthen exchanges and cooperation in trade in services and engagement of BRICS national focal points, as established in the BRICS Framework for Cooperation on Trade in Services, with the BRICS Business Council with the aim to promote implementation of BRICS Trade in Services Cooperation Roadmap and relevant documents including the BRICS Framework for cooperation in Trade in Professional Services,” it mentioned.

    The summit congratulated the BRICS New Development Bank (NDB) on its relocation to its everlasting headquarters constructing in Shanghai in addition to the opening of NDB’s regional workplace in India.

    “We welcome the decisions on admission of four new members to the NDB and look forward to further membership expansion in a gradual and balanced manner in terms of geographic representation and comprising of both developed and developing countries, to enhance the NDB’s international influence as well as the representation and voice of EMDCs in global governance”, it said.

    “We welcome the choice to determine the BRICS Think Tank Network for Finance. We count on it to work independently and supply mental assist, as and when tasked, for information sharing, change of experiences and practices and cooperation on finance points amongst BRICS nations,” it said.

    “We acknowledge the significance of strengthening the Contingent Reserve Arrangement (CRA) mechanism, which contributes to strengthening the worldwide monetary security internet and enhances current worldwide financial and monetary preparations,” it said.

    “We recognise the significance of BRICS Startup Events together with BRICS Innovation Launchpad and BRICS Startup Forum Meeting, aimed to advertise networking, interplay, mentorship amongst Startups in BRICS nations,” it said.

    “We commend our Customs authorities for the Agreement Between the Governments of BRICS Countries on Cooperation and Mutual Administrative Assistance in Customs Matters, and the progress made in areas of mutual administrative help, capability constructing and legislation enforcement cooperation,” it added.

  • BRICS nations to proceed dialogue on growth course of: Declaration

    The leaders of Brazil, Russia, India, China and South Africa (BRICS) on Thursday stated they may proceed to debate the potential of admitting new nations to the five-nation grouping on the premise of “full consultation and consensus.”

    “We note with satisfaction the progress made in BRICS institutional development and stress that BRICS cooperation needs to embrace changes and keep abreast with the times,” a declaration issued on the finish of a China-hosted digital summit of the five-nation bloc stated.

    The digital summit was attended by Prime Minister Narendra Modi, Chinese President Xi Jinping, Russian President Vladimir Putin and Brazilian President Jair Bolsonaro and South African President Cyril Ramaphosa.

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    “We shall continue to set clear priorities in our wide-ranging cooperation, on the basis of consensus, and make our strategic partnership more efficient, practical and results-oriented,” the declaration stated.

    “We support promoting discussions among BRICS members on BRICS expansion process. We stress the need to clarify the guiding principles, standards, criteria and procedures for this expansion process through Sherpas’ channel on the basis of full consultation and consensus,” it stated.

    The 5 leaders emphasised the efforts of extending cooperation to different Emerging Markets and Developing Countries (EMDCs) and assist additional selling the BRICS Outreach and BRICS Plus Cooperation in keeping with the up to date phrases of reference adopted by the BRICS Sherpas in 2021 by way of inclusive and equal-footed and versatile practices and initiatives.

    The declaration additionally praised China’s Chairship for internet hosting a dialogue session beneath the theme ‘Increased Role of Emerging Markets and Developing Countries in Global Governance’ through the Meeting of BRICS Ministers of Foreign Affairs/International Relations on May 19, 2022.

    Last month, Chinese Foreign Minister Wang Yi chaired the Dialogue of Foreign Ministers Between BRICS and Emerging Markets and Developing Countries in a digital format.

    It was attended by overseas ministers from BRICS nations, Kazakhstan, Saudi Arabia, Argentina, Egypt, Indonesia, Nigeria, Senegal and representatives of the overseas ministers of the UAE and Thailand.

    Brazil, Russia, India and China additionally prolonged full assist to South Africa for its BRICS Chairship in 2023 and the holding of the subsequent BRICS Summit, the declaration stated.

  • Indians’ funds in Swiss banks bounce 50% to over Rs 30k crore on surge in securities, institutional holdings; buyer deposits up too

    Funds parked by Indian people and corporations in Swiss banks, together with by way of India-based branches and different monetary establishments, jumped to a 14-year-high of three.83 billion Swiss francs (over Rs 30,500 crore) in 2021 on a pointy surge in holdings through securities and comparable devices whereas buyer deposits rose as nicely, annual knowledge from Switzerland’s central financial institution confirmed on Thursday.

    The rise in combination funds of Indian purchasers with Swiss banks, from 2.55 billion Swiss francs (Rs 20,700 crore) on the finish of 2020, marks the second consecutive 12 months of enhance.

    Besides, the cash held in Indian prospects’ financial savings or deposit accounts rose to a seven-year excessive of about Rs 4,800 crore, reversing a two-year declining pattern.

    The complete quantity of CHF 3,831.91 million, described by the SNB as ‘total liabilities’ of Swiss banks or ‘quantities as a consequence of their Indian purchasers on the finish of 2021, included CHF 602.03 million in buyer deposits (up from CHF 504 million on the 2020-end), CHF 1,225 million held through different banks (up from CHF 383 million), and CHF 3 million by way of fiduciaries or trusts (up from CHF 2 million).

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    The highest element of CHF 2,002 million (up from CHF 1,665 million) was ‘other amounts due to customers’ in type of bonds, securities, and varied different monetary devices.

    The complete quantity stood at a file excessive of practically 6.5 billion Swiss francs in 2006, after which it has been totally on a downward path, apart from just a few years together with in 2011, 2013, 2017, 2020, and now in 2021, as per the Swiss National Bank (SNB) knowledge.

    While all 4 elements had declined throughout 2019, the 12 months 2020 noticed a big plunge in buyer deposits, whereas there was a surge throughout all classes in 2021.

    These are official figures reported by banks to the SNB and don’t point out the quantum of the much-debated alleged black cash held by Indians in Switzerland.

    These figures additionally don’t embrace the cash that Indians, NRIs, or others might need in Swiss banks within the names of third-country entities.

    According to the SNB, its knowledge for ‘total liabilities’ of Swiss banks in the direction of Indian purchasers takes into consideration all forms of funds of Indian prospects at Swiss banks, together with deposits from people, banks, and enterprises.

    This contains knowledge for branches of Swiss banks in India, as additionally non-deposit liabilities.

    On the opposite hand, the ‘locational banking statistics’ of the Bank for International Settlement (BIS), which have been described up to now by Indian and Swiss authorities as a extra dependable measure for deposits by Indian people in Swiss banks, confirmed a decline of 8.3% throughout 2021 in such funds to USD 115.5 million (Rs 927 crore at present change charges), after rising by practically 39% throughout 2020 to USD 125.9 million (Rs 932 crore).

    This determine takes into consideration deposits in addition to loans of Indian non-bank purchasers of Swiss-domiciled banks and had proven a rise of seven% in 2019, after declining by 11% in 2018 and by 44% in 2017.

    It peaked at over USD 2.3 billion (over Rs 9,000 crore) on the finish of 2007.

    Swiss authorities have at all times maintained that belongings held by Indian residents in Switzerland can’t be thought of ‘black money’ they usually actively help India in its combat in opposition to tax fraud and evasion.

    An computerized change of knowledge in tax issues between Switzerland and India has been in drive since 2018.

    Under this framework, detailed monetary info on all Indian residents having accounts with Swiss monetary establishments since 2018 was supplied for the primary time to Indian tax authorities in September 2019 and that is to be achieved yearly.

    In addition to this, Switzerland has been actively sharing particulars about accounts of Indians suspected to have indulged in monetary wrongdoings after the submission of prima facie proof.

    Such change of knowledge has taken place in a whole bunch of circumstances thus far.

    Overall, buyer deposits throughout the Swiss banking spectrum, comprising of 239 banks, rose in 2021 to almost CHF 2.25 trillion. The total funds of international purchasers, together with of establishments, rose to almost CHF 1.5 trillion (Rs 118 lakh crore).

    In phrases of belongings (or funds due from prospects), Indian purchasers accounted for CHF 4.68 billion on the finish of 2021, up practically 10%. This included dues from Indian prospects price about CHF 323 million after an increase of 25 per cent through the 12 months.

    While the UK topped the charts for international purchasers’ cash in Swiss banks at CHF 379 billion, it was adopted by the US (CHF 168 billion) on the second spot — the one two international locations with 100-billion-plus consumer funds.

    Others within the prime 10 have been West Indies, Germany, France, Singapore, Hong Kong, Luxembourg, Bahamas, the Netherlands, Cayman Islands and Cyprus.

    India was positioned at forty fourth place, forward of nations like Poland, South Korea, Sweden, Bahrain, Oman, New Zealand, Norway, Mauritius, Bangladesh, Pakistan, Hungary and Finland.

    Among BRICS nations, India stood under Russia (fifteenth place) and China (twenty fourth), however above South Africa and Brazil.

    Others positioned above India included the UAE, Australia, Japan, Italy, Spain, Panama, Saudi Arabia, Mexico, Israel, Taiwan, Lebanon, Turkey, Austria, Ireland, Greece, Bermuda, Marshall Islands, Liberia, Belgium, Malta, Canada, Portugal, Qatar, Egypt, Thailand, Kuwait and Jordan.

    Pakistan noticed a rise in funds of its residents and enterprises to CHF 712 million, whereas that for Bangladesh rose to CHF 872 million. Just like in India, the difficulty of alleged black cash in Swiss banks has been a political scorching potato within the two neighbouring international locations as nicely.

    After the annual knowledge launch final 12 months, the Indian authorities had sought particulars from Swiss authorities on the related info together with their view on potential causes for adjustments within the funds parked by people and entities in 2020.

    In its assertion, the finance ministry had stated the figures “don’t point out the quantum of much-debated alleged black cash held by Indians in Switzerland.

    Further, these statistics don’t embrace the cash that Indians, NRIs or others might need in Swiss banks within the names of third-country entities.”

    It had additionally listed out the explanations that might have led to the rise in deposits, together with rising enterprise transactions by Indian corporations, rise in deposits owing to the enterprise of Swiss financial institution branches positioned in India and enhance in inter-bank transactions between Swiss and Indian banks.

  • Actively helps Russia’s transfer to develop BRICS bloc, says China

    China, which is holding the rotating Presidency of BRICS bloc this 12 months, mentioned on Friday that it actively helps the growth of the five-member group, a day after Russian Foreign Minister Sergey Lavrov mentioned that Saudi Arabia and Argentina desired to hitch the grouping.

    Riyadh and Buenos Aires have proven curiosity in BRICS actions, Russia’s state-run Tass information company quoted Lavrov as saying in an interview on Thursday.

    “The interest in it (BRICS) is shown by our Saudi friends and Argentina, which stated the desire to become a full-fledged BRICS member, coming from the mouth of its (Argentina) Foreign Minister Santiago Cafiero,” Lavrov mentioned.

    The subsequent BRICS (Brazil, Russia, India, China, South Africa) summit is being ready, Lavrov mentioned. “The outreach format will be established within its framework, where around a dozen developing economies will participate,” he added.

    Responding to Lavrov’s BRICS growth feedback, Chinese Foreign Ministry spokesman Wang Wenbin instructed a media briefing right here that “as the BRICS Chair this year, China actively supports the start of the BRICS expansion process and broadens ‘BRICS Plus’ cooperation”.

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    Wang mentioned the recently-held assembly of BRICS Ministers of Foreign Affairs reached consensus on the BRICS growth course of and held the first-ever ‘BRICS Plus’ international ministers’ assembly, “which fully shows that the BRICS cooperation is open and inclusive”.

    “China will work on BRICS-related parties to continue to have in-depth discussions on BRICS expansion and determine the standards and procedures for that on the basis of consensus.

    “We look forward to more like-minded partners joining the big family of BRICS,” he said.

    Foreign Ministers and top officials of Kazakhstan, Saudi Arabia, Argentina, Egypt, Nigeria, Senegal, the UAE and Thailand took part in the foreign ministers meeting of the five-member group held virtually on May 19 under Beijing’s ‘BRICS Plus’ initiative.

    External Affairs Minister S Jaishankar took part in the BRICS Foreign Ministers meeting convened by his Chinese counterpart Wang Yi.

    China is making preparations to hold this year’s BRICS summit, dates for which are yet to be announced.

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    BRICS’ New Development Bank (NDB) has already admitted Bangladesh, the UAE, Egypt and Uruguay as its members.

    Russian foreign minister Lavrov in his interview to TASS had also indicated that many countries of the Arab world are showing interest in establishing partner relations with the eight-member Shanghai Cooperation Organisation (SCO) in which India and Pakistan are members besides China. The other members are Kazakhstan, Kyrgyzstan, Russia, Tajikistan and Uzbekistan.

    “These are processes of increase significant and optimistic, non-antagonistic alliances, not aimed in opposition to anybody,” Lavrov mentioned.

    The joint assertion issued after the May 19 BRICS’ international ministers assembly mentioned, “The ministers recalled the BRICS efforts of extending its cooperation to other developing countries and emerging markets and supported further promoting the BRICS Outreach and BRICS Plus Cooperation, in line with the updated Terms of Reference adopted by the BRICS Sherpas in 2021through inclusive and equal-footed and flexible practices and initiatives.”

    “The ministers supported promoting discussions among BRICS members on the BRICS expansion process. They stressed the need to clarify the guiding principles, the standards, criteria and procedures for this expansion process,” in accordance with the joint assertion posted on the Chinese Foreign Ministry web site.