4th BRICS Summit – New Delhi, 28 and 29 March 2012

President Dilma Rousseff will take part of the 4th BRICS Summit, on 28 and 29 March 2012 in New Delhi, alongside the Prime Minister of India Manmohan Singh; the President of South Africa, Jacob Zuma; the President of China, Hu Jintao; and the President of Russia, Dmitri Medvedev.

The Summit, whose theme is "BRICS Partnership for Global Stability, Security and Prosperity", will address economic growth, international peace and security, sustainable development, challenges to urbanization and biodiversity as well as the improvement of global governance mechanisms, in order to conform them to the new political and economic reality and broaden the representativeness and legitimacy of the existing institutions.

The meeting will promote the debate on funding mechanism for infrastructure projects, not only in the countries of the group, but also in other emerging and developing countries, with the possibility of assigning a mechanism to study the creation of a South-South Bank, led by the BRICS.

On 28 March, the Ministers of Trade and Foreign Affairs will examine the current state of the global economy and trade and investment opportunities in the BRICS countries, as well as the WTO Doha Round Negotiations. Following up on the 2011 agreement, a new framework agreement will be signed between BRICS development banks to facilitate the implementation of trade exchanges in local currencies. The “BRICS Report: A Study of Brazil, Russia, India, China, and South Africa with Special Focus on Synergies and Complementarities” will also be released.

Trade between the BRICS countries reached US$ 212 billion in 2010, and it is estimated to have exceeded US$ 250 billion in 2011. By way of comparison, trade between the members of the group amounted to mere US$ 27 billion in 2002 and it is estimated to reach more than US$ 500 billion in 2015. Brazil-BRICS trade increased from 10 billion in 2003 to US$ 96 billion in 2011.

The IMF expects the BRICS to contribute with 56% of the world’s GDP in 2012. The BRICS cover around 26% of the world’s land mass and accounts for 41% of the world population and 46% of the global workforce.