(a) whether the five emerging economies under the BRICS umbrella met recently in New Delhi;
(b) if so, the agenda discussed in the meeting;
(c) whether an agreement has been signed between BRICS countries to promote trade in local currency;
(d) if so, the details thereof; and
(e) the other issues discussed and agreements signed during BRICS summit and the benefits likely
to accrue to the country as a result thereof?
THE MINISTER OF STATE IN THE MINISTRY OF EXTERNAL AFFAIRS (SHRIMATI PRENEET KAUR)
(a) Yes. The fourth BRICS Summit was held in New Delhi on 29 March 2012.
(b) The BRICS Summit agenda covered two clusters of themes. The cluster `Global Governance`, covered
issues relevant to the global economic situation, the contemporary political situation (including
developments in West Asia), WTO and the international trading regime, and reform of international
institutions of global governance. The second cluster `Sustainable Development` covered issues relevant
to sustainable development particularly in the context of the forthcoming UN Conference of Sustainable
Development (Rio+20), issues of food and energy security and consolidation of intra-BRICS cooperation.
(c) to (e) Two Agreements,
(i) Master Agreement on Extending Credit Facility in Local Currencies, and
(ii) BRICS Multilateral Letter of Credit Confirmation Facility Agreement were signed at the Summit by
BRICS EXIM/Development Banks. Both of these are enabling agreements subject to national country
regulations that would help to enhance cooperation amongst the BRICS Development Banks, reduce intra-
BRICS trade transaction costs and promote intra-BRICS trade.