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2012 BRICS summitFrom Wikipedia, the free encyclopedia
2012 BRICS summit
4th BRICS Summit
Official summit logo
Host country India
Date 29 March 2012
Venue(s) Taj Mahal Hotel
Cities New Delhi
Participants BRICS
Follows South Africa summit, 2013
Precedes Sanya summit, 2011
The 2012 BRICS summit was the fourth annualBRICS summit, an
international relations conference
attended by the heads of state or heads of government of the
five member
statesBrazil,Russia,India,ChinaandSouth Africa. The summit was
held at atTaj Mahal Hotel[1]
in New
Delhi, India on 29 March 2012[2]
and began at 10:00Indian Standard Time.[3]
This is the first time that India
has hosted a BRICS summit.[4]
The theme of the summit was "BRICS Partnership for Global
Stability,
Security and Prosperity".
[2]
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Contents
[hide]
1 Preparations
o 1.1 Logo
o 1.2 Security
2 Pre-summit events
3 Attending delegations
4 Common issues
o 4.1 Development bank
o 4.2 Other issues
5 Conclusions
o 5.1 Multilateral financial institutions
o 5.2 Trade and currency
o 5.3 Foreign policy issues
6 Bilateral initiatives
7 Controversies
o 7.1 Protests
o 7.2 Traffic
8 Reactions
9 References
10 External links
[edit]Preparations
[edit]Logo
Preparations for the summit began with the announcement from the
Ministry of External Affairs, Indiaabout
a competition to choose the official logo for the meeting. The
logo was expected to "bring out the essence
of this grouping of countries, which has received unprecedented
global attention in recent years and now
occupies a prominent space in the global political and economic
landscape." A specially-constituted jury
announced the winning design on 10 February 2012 as the
submission of Sonesh Jain, an architecture
student of theIndian Institute of Technology Roorkee. The logo
is a symbolic representation of
apeacockwith "colours suggesting resurgence and renewal".[5]
Officials also commented that the BRICS
logo drew inspiration from thelotusin addition to the
peacock.[6]
The logo caused controversy regarding its similarity to that of
theNational Broadcasting Corporation. The
Ministry of External Affairs said that there should have been a
more careful selection process, but defended
the logo by saying that there were more differences than
similarities.[7][6]
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[edit]Security
Hosting the summit involved elaborate security arrangements in
the city. 2,000 police personnel
andNational Security Guardcommandos were deployed throughout the
city's arterial areas, with special
emphasis on the summit venue. The venue's security involved a
three-tier arrangement handled bytheDelhi Policeand the embassy
officials of the visiting nations, and involved body checks and
metal
detectors. To ensure the security of the attending delegates,
the floors above and below the rooms to be
occupied were left vacant.[8]
In addition, the entire hotel was occupied by the BRICS summit,
and guests
were re-directed to other hotels. Security personnel were posted
even on the rooftops of the venue.[9]
[edit]Pre-summit events
During 46 March 2012, the Delhi-based public policy
organisationObserver Research
Foundationconducted the 4th BRICS Academic Forum, which involved
the participation of approximately
60 scholars from all five states. The forum was held to generate
ideas and proposals, which would be put
forward to the attending state heads for further consideration.
At the end of the forum, 18 recommendations
were put forward for increasing the effectiveness of the
group.[4]
A BRICS business forum, organised by
theFederation of Indian Chamber of Commerce and
Industry,Confederation of Indian
IndustryandAssociated Chambers of Commerce and Industry of
India,[10]
took place the day before the
leaders official summit.[11]
[edit]Attending delegations
Theheads of state/heads of governmentof the five countries
participated in the summit.
Manmohan Singh(host)
Prime Minister of India
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Dilma Rousseff
President of Brazil
Dmitry Medvedev
President of Russia
Hu Jintao
President of China
Jacob Zuma
President of South Africa
Hu arrived in New Delhi on 28 March 2012[12]
along with a delegation of senior ministers which included
Foreign MinisterYang Jiechi, State CouncillorDai Bingguoas well
as business executives.[13]
Zuma's
delegation included the Minister of Trade and Industry,Rob
Daviesand business executives. All five trade
ministers were present as well.[11]
[edit]Common issues
[edit]Development bank
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The BRICS leaders at the summit venue; (from left) Rousseff,
Medvedev, Singh, Hu and Zuma
The main agenda for the summit was the creation of a new
development bank .[14]
The idea for setting up
such a bank was put forward by India,[15]
as a sign of firming the power of the group and increasing
its
influence in global decision-making; Sudhir Vyas, a senior
Indian official, said that the idea for a BRICSbank had been "in
the air for some time."
[16][17]
The aims of the bank would include: funding development and
infrastructure projects in developing and
least developed countries;[18]
lending, in the long term, during global financial crises such
as the Eurozone
crisis;[19]
and issuingconvertible debt, which could be bought by the
central banks of all the member states
and hence act as a vessel for risk-sharing.[17]
Economic experts[which?]
predicted several beneficent effects of such a bank. Such a bank
would allow
successful implementation of regional development projects, with
increased efficiency and
transparency.[17]Brazilian Trade MinisterFernando Pimentelsaid
that the bank "would be a very powerful
financial tool to improve trade opportunities, and may be a
major step to support the EU to overcome its
financial crisis."[11]
In the Delhi Declaration at the end of the summit, the BRICS
announced the setting up of the bank,
described as a "BRICS-led South-South development bank." The
finance ministers of the member states
were directed to conduct feasibility studies of the initiative
and to submit their reports at the next BRICS
summit.[20]
Pimentel said that the proposed bank was not meant as a sign of
abandonment of existing
global financial institutions, but that it was a response to
current economic necessities. Vyas commented
that the BRICS would determine the capital structure and that
the initiative would take some time to get
started.[21]
[edit]Other issues
Zuma's office said that South Africa would seek to advance
African interests in seeking support for
infrastructure projects and industrialisation initiatives, as
well as call for reform in multilateral institutions .[11]
[edit]Conclusions
[edit]Multilateral financial institutions
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RICS_summit#cite_note-14http://en.wikipedia.org/wiki/2012_BRICS_summit#cite_note-13
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All five countries called for an urgent need to implement the
2010 Governance and Quota Reform before
the 2012International Monetary Fund World Bank Annual Meeting.
The countries also want the
comprehensive review of the quota formula to reflect economic
weights and enhance the voice and
representation of emerging market and developing countries by
January 2013.[22][23][24]
All five countries also called for candidatures from developing
world for the position of the President of the
World Bank reiterating that the heads of IMF and the World Bank
should be selected through an open and
merit-based process.[22][23][24]
The call came weeks before theWorld Bank's presidential
electionwhich
would, for the first time, feature non-United States candidates.
China's Hu said: "We are committed to
stepping up exchanges with other countries on global economic
governance reforms and increasing
representation of developing countries." Manmohan Singh added
that "while some progress has been
made in international financial institutions, there is lack of
movement on the political side. BRICS should
speak with one voice on important issues such as the reform of
the UN Security Council."[20]
[edit]Trade and currency
To promote trade in local currencies, the BRICS countries signed
the Master Agreement on Extending
Credit Facility in Local Currency and the Multilateral Letter of
Credit Confirmation Facility Agreement to
replace the United States dollar as the main unit of trade
between them.[25]
The trade ministers also said
that tightening intra-BRICS trade would help as an antidote to
theEuropean sovereign debt crisis.[11]
The
trade ministers also called for collective action to fight the
European and United States economic
downturns. At the BRICS Business Forum, India's Commerce and
Industry MinisterAnand Sharmasaid
that the "adversity of financial crisis is being faced by all.
There is a need to work together to overcome this
problem." His Chinese counterpart Chen Deming added that both
economic problems were affecting all
states and decreased Chinese exports: "I am sure they will
recover. There is a need to prevent the EU
crisis quickly before it gets worse. There has been a decline in
demand in the European markets. Despite
this we have to sustain a high level of growth." Russian
Minister for Economic Development and
TradeElvira Nabioullinaadded that "the world has to stop
accumulating risks. There is a need to work
closer."[10]
In order to bring the economies of BRICS closer, all members
agreed to launch a benchmark equity index
derivative allowing investors in one BRICS country to bet on the
performance of stock markets in the other
four members without currency risk. The indices will be
cross-listed in BRICS' flagship stock exchanges
from 30 March.[26]
[edit]Foreign policy issues
All five countries called for the international community to
continue development projects inAfghanistanfor
10 years after theISAFwithdraws most of its combat troops by the
end of 2014.
They also condemned the Western worlds pressure tactics onIranto
make other countries adhere to their
restrictions on trade ties[27]
and said dialogue alone could resolve the nuclear issues. The
group added that
the2011-2012 Syrian uprisingcould also only be resolved through
dialogue. They warned against any
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RICS_summit#cite_note-BRICS_reform_west-21http://en.wikipedia.org/wiki/2012_BRICS_summit#cite_note-BRICS_reform_west-21http://en.wikipedia.org/wiki/International_Monetary_Fund
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military intervention in Syria by the West or by Israel in Iran
.[28]
They added that a war with Iran would have
"disastrous consequences."[29]
China's Trade MinisterChen Demingsaid that the "rise [in the
price] of
crude oil has impacted all countries. The Iran issue has become
an issue for all. We need to continue with
normal relations with Iran, but, at the same time, we respect UN
resolution. We hope that unilateral
movement by one country will not affect other
countries."[10]
[edit]Bilateral initiatives
India and China launched the "India-China Friendship and
Cooperation" year in the summit. Chinese
President Hu Jintao that it was China's "unswerving policy" to
develop bilateral ties as he put forward a five-
point proposal in an effort to improve strategic ties between
the two states. Chinese Foreign Ministry
spokesman Hong Lei said of Hu's reaction that he thought "there
is a great cooperation potential and
prospect of development for China-India relations. China hopes
to work with India to seize development
opportunities, step up development, jointly respond to
challenges and make greater contribution to peace
and prosperity of Asia and beyond." Indian Prime Minister
Manmohan Singh responded by saying that
"India hopes to maintain high-level exchange of visits with
China, deepen strategic mutual trust, expand
win-win cooperation and hope to make strategic economic dialogue
between the two countries a
success."[30]
Both states agreed to initiate dialogue over issues inWest
Asia,Central Asiaand Africa asconfidence
building measurestowards enhancement of political interaction.
They also discussed border disputes with
a conclusion to maintain the status quo peace and stability. On
the economic front, Hu stated that he would
work towards facilitating Indian exports to China; Singh called
for Chinese investments in the Indian
manufacturing and infrastructure sectors.[31]
[edit]Controversies
[edit]Protests
On 26 March, a Tibetan activist named Jamphel Yeshiset himself
on fireat a rally in Delhi and
subsequently died of his burns two days later. Yeshi was given a
"martyr's funeral" by several Tibetan exile
organisations;[32]
a rally was held inDharamshalain his memory.[33]
On 28 March, protesters attempted to
storm into the hotel where Hu was staying, prompting an increase
in security for the officials. Around ten
Tibetan activists unfurled aTibetan flagnear the hotel, and
attempted to march towards the summit venue
but were detained by the police.[34]
Protesters were also present at the United Nations office
where
theTibetan Youth Congresssubmitted memorandums to the embassies
of the participating states. Similar
protests were also held atKhan Marketand theJantar Mantar,
prompting a heavy police presence in such
areas.[35]
Police camps were set up in certain colonies of Tibetan refugees
in Delhi .[36]
Almost 300
protesters were arrested for breaking laws during their
anti-China protests.[37]
China responded strongly to the protests, and accused the exiles
of pushing "extreme and radical views by
glorifying and instigating extreme behavior." Chinese
spokesperson Luo Zhaohui termed the protests as
"political" and "inconsistent with the teachings ofBuddhism."
Luo expressed regret over the loss of life and
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praised the Indian government's efforts to "[ensure] the safe
and smooth holding" of the summit .[38][39]
The
state-runChina Tibet Onlinemade a number of statements against
the Dalai Lama, claiming that he was
"controlled by USA" and that his relatives worked for the
Central Intelligence Agency. It pointed out
"similarities" between the Dalai Lama's activities and the
"uncontrolled and cruel Nazis" duringWorld War
II. It also claimed that he wanted Tibet to become his
"property" and Tibetans his "slaves", by dividing
China and "restoring Tibetan serfdom."[40]
The report was subsequently relayed byXinhua. TheSimon
Wiesenthal Centercriticised the comparison, calling it a "double
slander", on the premise that the Dalai
Lama's tactics are antithetical to the actions of the Nazi
regime.[41]
Thegovernment of Indiaperceived the
disruptions as aloss of face[42]
and acted to detain protesters, cordon-off areas with Tibetan
populations,
and provide police escorts.[35]
However, despite warnings, the Tibetan Youth Congress announced
that
they would continue to protest in the city.[43]
During theRajya Sabha's Zero Hour, theBharatiya Janata
Party'sBalbir Punjcondemned the arrests of protesters, labeling
it a "violation of people's fundamental
rights".[36]
The day before the summit, theParliament of the Central Tibetan
Administrationcalled on the other BRICS
members to discuss the issue at the summit as they felt that the
situation in Tibet continued to deteriorate
amidst China's use of "brutal methods" against peaceful
protests.[44]
[edit]Traffic
A day prior to the summit, traffic restrictions were imposed in
Sardar Patel Marg so as to allow proper
movement of the visiting dignitaries. Such restrictions were
expected to affect traffic at major city
roads,India GateandRajiv Chowk. However, despite an earlier
announcement stating that restrictions
would be imposed in the evening, the restrictions were placed by
the afternoon. As a result, commuters
were left stranded due to traffic blocks. Despite advisories
from the police, there was confusion on the
roads.[45]
Some people reported that they were held up at the roads for
several hours. The blocked roads
were also used by commuters travelling from satellite towns into
Delhi, thus forcing the people to find
alternate options for traveling. The Delhi Police's advice of
avoiding the blocked routes and finding alternate
routes was met with criticism as such measures would add
considerably to commuting time. Commuter
displeasure was also expressed on social networking sites like
Facebook. The traffic conditions in the city
made many commuters use theDelhi Metroto reach their
destinations.[46]
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