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The 6th Summit of the BRICS countries (Brazil, Russia, India, China, South Africa) was held on 17/07/2014 in Brazil. In the business meetings that were organized, 602 companies participated that are estimated to have contracted agreements amounting to 3,9 billion dollars in the sectors of agriculture, infrastructure, transport, mining, machinery, IT, pharmaceuticals, medical device, and energy. The development banks of the partners signed a five-year partnership agreement for long-term promotion with the option of extension for another five years.
The agreement also provides for investing in emerging technologies and the joint funding of the development of mutual-interest technology. In addition, the leaders of BRICKS confirmed the founding of the investment bank, New Development Bank (NDB), and the incorporation of a joint reserve fund, Contingency Reserves Arrangement (CRA). |