2011 BRICS summit

2011 BRICS summit was the third annual diplomatic meeting of the BRICS nations, which was held in Sanya, Hainan, China on April 14, 2011. The meeting was attended by the leaders of the Brazil, Russia, India, China, and South Africa. The summit was significant as it was the first meeting after the inclusion of South Africa in the BRICS group, which was announced during the 2nd BRICS summit in Brasilia, Brazil. The meeting was also notable for the discussions on the global economic crisis, International Monetary Fund reforms, and the situation in Libya and Ivory Coast.

● Introduction

The 2011 BRICS summit was a significant event in the history of the BRICS nations, as it marked the first meeting of the group with South Africa as a member. The meeting was hosted by China and was attended by the leaders of the five nations, including Dilma Rousseff of Brazil, Dmitry Medvedev of Russia, Manmohan Singh of India, Hu Jintao of China, and Jacob Zuma of South Africa. The summit was also attended by the Shanghai Cooperation Organisation Secretary-General, Muratbek Imanaliyev, and the Association of Southeast Asian Nations Secretary-General, Surin Pitsuwan. The meeting was held in the backdrop of the global economic crisis, which was triggered by the 2008 financial crisis and the subsequent European sovereign-debt crisis. The leaders of the G20 nations, including Barack Obama of the United States, Angela Merkel of Germany, and Nicolas Sarkozy of France, were also closely watching the developments at the summit.

● Background

The 2011 BRICS summit was held in the context of the changing global economic landscape, which was marked by the rise of the Emerging markets and the decline of the developed economies. The BRICS nations, which accounted for over 40% of the world's population and 20% of the global GDP, were increasingly playing a significant role in shaping the global economy. The meeting was also held in the backdrop of the Arab Spring, which was sweeping across the Middle East and North Africa, and the situation in Libya and Ivory Coast, which was marked by conflict and instability. The leaders of the BRICS nations, including Vladimir Putin of Russia, Luiz Inácio Lula da Silva of Brazil, and Wen Jiabao of China, had been holding regular meetings to discuss the global economic crisis and its impact on their economies. The International Monetary Fund and the World Bank were also closely involved in the discussions, with Dominique Strauss-Kahn and Robert Zoellick playing key roles.

● Participating Leaders

The 2011 BRICS summit was attended by the leaders of the five BRICS nations, including Dilma Rousseff of Brazil, Dmitry Medvedev of Russia, Manmohan Singh of India, Hu Jintao of China, and Jacob Zuma of South Africa. The leaders of the BRICS nations were joined by the Shanghai Cooperation Organisation Secretary-General, Muratbek Imanaliyev, and the Association of Southeast Asian Nations Secretary-General, Surin Pitsuwan. The meeting was also attended by other dignitaries, including the United Nations Secretary-General, Ban Ki-moon, and the European Union High Representative, Catherine Ashton. The leaders of the G20 nations, including Barack Obama of the United States, Angela Merkel of Germany, and Nicolas Sarkozy of France, were also closely watching the developments at the summit. The African Union Chairman, Bingu wa Mutharika, and the Non-Aligned Movement Secretary-General, Ali Abdussalam Treki, were also involved in the discussions.

● Agenda and Discussions

The agenda of the 2011 BRICS summit included discussions on the global economic crisis, International Monetary Fund reforms, and the situation in Libya and Ivory Coast. The leaders of the BRICS nations also discussed the issues of Climate change, Sustainable development, and Food security. The meeting also saw discussions on the Doha Development Round and the WTO reforms, with the leaders of the BRICS nations calling for a more equitable and balanced global trade regime. The World Trade Organization Director-General, Pascal Lamy, and the International Labour Organization Director-General, Juan Somavía, were also involved in the discussions. The leaders of the BRICS nations also discussed the issue of Global governance and the need for a more representative and inclusive global governance structure, with the United Nations playing a central role.

● Outcome and Declarations

The 2011 BRICS summit resulted in the adoption of the Sanya Declaration, which outlined the common position of the BRICS nations on the global economic crisis, International Monetary Fund reforms, and the situation in Libya and Ivory Coast. The declaration also called for a more equitable and balanced global trade regime and emphasized the need for Sustainable development and Climate change mitigation. The leaders of the BRICS nations also agreed to establish a BRICS Development Bank to support infrastructure development and Sustainable development projects in the BRICS nations and other Emerging markets. The New Development Bank was later established in 2014, with its headquarters in Shanghai, China. The BRICS nations also agreed to enhance their cooperation in the areas of Science and technology, Innovation, and Education, with the Indian Institute of Technology and the Chinese Academy of Sciences playing key roles.

● Aftermath and Reactions

The 2011 BRICS summit was widely seen as a significant event in the history of the BRICS nations, as it marked the first meeting of the group with South Africa as a member. The summit was also notable for the discussions on the global economic crisis, International Monetary Fund reforms, and the situation in Libya and Ivory Coast. The leaders of the G20 nations, including Barack Obama of the United States, Angela Merkel of Germany, and Nicolas Sarkozy of France, welcomed the outcome of the summit and called for greater cooperation between the BRICS nations and the G20 nations. The European Union also welcomed the outcome of the summit, with the European Commission President, José Manuel Barroso, calling for greater cooperation between the EU and the BRICS nations. The African Union and the Non-Aligned Movement also welcomed the outcome of the summit, with the African Union Chairman, Bingu wa Mutharika, calling for greater cooperation between the AU and the BRICS nations. Category:BRICS