|6th BRICS Summit
Sexta cúpula do BRICS
|Date||14 July 2014–16 July 2014|
|Venue(s)||Centro de Eventos do Ceará|
|Cities||Fortaleza & Brasília|
|Follows||5th BRICS summit|
|Precedes||7th BRICS summit|
The 6th BRICS summit was the sixth annual diplomatic meeting of the BRICS, a grouping of world's major emerging economies that includes Brazil, Russia, India, China and South Africa. It was hosted by Brazil, as the first host country of the current five-year summit cycle; the host city was Fortaleza. Argentine President Cristina Kirchner was a special guest of the summit. Though Brazil hosted a four-member BRIC summit in April 2010, 2014 marked its first full BRICS summit; the 2010 summit in Brasília did not officially include South Africa, who were only invited as guests in a prelude to full membership, which they achieved in December 2010. Most importantly, in this meeting the New Development Bank was officially inaugurated.
Following the 2013 BRICS summit in Durban, South Africa, the BRICS countries released a joint statement summarising the results of their discussions and naming Brazil as the host country for the 2014 summit. Having agreed to set up a new international development bank during the 2013 summit, the member countries intended to complete the arrangements prior to the 2014 summit. The summit was initially scheduled for March 2014, but was shifted to a later date at China's request; it was held on 14–16 July 2014.
India's Narendra Modi made this the first summit of his premiership.
|Core BRICS members
Host state and leader are shown in bold text.
|India||Narendra Modi||Prime Minister|
|South Africa||Jacob Zuma||President|
- Invited leaders
The BRICS Development Bank was due to be inaugurated and Shanghai was selected as its headquarters. On 15 July, the group signed a document to create the US$100 billion BRICS Development Bank and a reserve currency pool worth over another US$100 billion. Documents on cooperation between BRICS export credit agencies and an agreement of cooperation on innovation were also signed. In a press release, the group wrote: "We remain disappointed and seriously concerned with the current non-implementation of the 2010 International Monetary Fund (IMF) reforms, which negatively impacts on the IMF's legitimacy, credibility and effectiveness." It was read as a rival to the IMF and World Bank. The headquarters of the NDB will be in Shanghai, the institution's first president will be from India, the bank's first regional office will be in Johannesburg, the inaugural chairman of the board of governors will be from Russia and the first chairman of the board of directors will be from Brazil. The presidency, with a term of five years, will rotate among the members of the bloc.
Russian President Vladimir Putin said of the summit that it sought to reduce dependency on the U.S. dollar and strengthen the rule of international law:
In the BRICS case we see a whole set of coinciding strategic interests. First of all, this is the common intention to reform the international monetary and financial system. In the present form it is unjust to the BRICS countries and to new economies in general. We should take a more active part in the IMF and the World Bank's decision-making system. The international monetary system itself depends a lot on the US dollar, or, to be precise, on the monetary and financial policy of the US authorities. The BRICS countries want to change this.
Mike Billington of the Executive Intelligence Review said of the creation of the bank that the "BRICS nations have essentially changed world history. They have established a new paradigm for the world..."
- Invited UNASUR heads of state
- Argentina – Cristina Fernández de Kirchner
- Bolivia – Evo Morales
- Chile – Michelle Bachelet
- Colombia – Juan Manuel Santos
- Ecuador – Rafael Correa
- Guyana – Donald Ramotar
- Paraguay – Horacio Cartes
- Peru – Ollanta Humala
- Suriname – Dési Bouterse
- Uruguay _ José Mujica
- Venezuela – Nicolás Maduro
Gallery of participating leaders
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