Part of: GS Prelims and GS-II – International Relations; Global Groupings
In news
The 5th BRICS Culture Ministers’ Meeting was held through a video conference.
Chairmanship: Russian Federation.
Key takeaways
Impact of the Covid-19 situation on the cultural sphere in the BRICS countries was discussed.
Possible implementation of joint cultural online-projects within BRICS was reviewed.
India also suggested exploring possibilities of hosting a Digital Online Exhibition on a shared theme towards the end of 2021 under the auspices of BRICS Alliance of Museums.
The National Gallery of Modern Arts, New Delhi will host the BRICS Joint Exhibition titled ‘Bonding Regions & Imagining Cultural Synergies’ under the auspices of the BRICS Alliance of Art Museums and Galleries in 2021.
Important value additions
BRICS
BRICS is an association of Brazil, Russia, India, China and South Africa.
All are members of G20.
Represent over 3.1 billion people, 41% of the world population.
As of 2018, BRICS have US $40.55 trillion (32% of World’s GDP PPP).
Bilateral relations among BRICS nations are conducted on the basis of non-interference, equality, and mutual benefit.
There are two components that make up the financial architecture of BRICS: (1) New Development Bank (NDB) (BRICS Development Bank); (2) Contingent Reserve Arrangement (CRA).
Do you know?
The chairmanship of the forum is rotated annually among the members, in accordance with the acronym B-R-I-C-S.
During the Sixth BRICS Summit in Fortaleza (Brazil) in 2014, the leaders signed the Agreement establishing the New Development Bank (NDB – Shanghai, China).
They also signed the BRICS Contingent Reserve Arrangement to provide short-term liquidity support to the members.
