Today: Thursday, 25 April 2024 year

South Africa to host BRICS 2018 summit

South Africa to host BRICS 2018 summit

South Africa is the future host of the next BRICS summit, in 2018, Brazil, Russia, India, China, South Africa will gather in Johannesburg. The Chinese leader Xi Jinping announced it on Tuesday.

President of China congratulated his South African counterpart with the great honour – the 10th annual BRICS summit will be held in Johannesburg. Mr Jinping made an official announcement after the end of the 9th BRICS. The current edition of BRICS made news after all the members unanimously condemned terror outfits.

Future of BRICS and second “golden decade” of cooperation

The first annual gathering of BRICS members founders (Brazil, Russia, India, China and South Africa) was held in 2008. These five states mean a lot for the world economy, they account for 42 percent of the global population and contribute to more than 50 percent of world’s economic growth.

BRICS countries have developed more than 60 cooperation mechanisms over nine years, its Bank provides financing support for infrastructure and sustainable development of BRICS members.

The powerful group has become an increasingly important and indispensable force in the global economy and economic governance in the different parts of the planet, helping the business find its own way and stimulating de-globalization, protectionism and populism across the globe. According to the experts, the achievements of BRICS group have laid a solid foundation for the group to embark on a second “golden decade” of international cooperation.