Brics will focus on creating additional currencies other than dollar

 

It is said that BRICS will focus on creating additional currencies other than the dollar for world trade. The known BRICS, which is an  acronym  for a group of powerful grouping of the world’s leading emerging market economies , which are  Brazil, Russia, India, China and South Africa. this group stands in the aim of promoting peace,development and security through out the world, and the upcoming meeting will focus on creating additional currencies other than dollar

The power full group which holds over 3.2 billion number of population ,40% of the world is now trying to turn the world trad exchange to an other currency 

 

Brics will focus on creating additional currencies other than dollar for world trade

 

The member countries of BRICS met in Cape Town, South Africa, and said that BRICS will focus on creating an additional currency for world trade other than the dollar. The group which was established in the year 2009 to resist the influence of the West and balance the world existence.

 

The countries agreed on turning there trade relations to the BRICS countries, this group of five countries, compared to the group of seven countries led by the United States and the European Union, has influential ability  in terms of annual income and population.

The foreign ministers of the BRICS member countries met in Cape Town, South Africa, and discussed twith leading agenda of the need for additional currency and on creating abetter way than puting the existence of te world in few  number of countries palm  and the official  acceptance  of countries which has requested to join this Group.

 

The main petroleum source country saudi arabia, Iran and the United Arab Emirates have  showed there interest and proposed to become BRICS member states, and it is mentioned in the report that the  group  will give permission to these countries soon.

 

Indian Foreign Minister Subramaniam Jeshankar said in his opening speech at the conference, “The world is not ruled by the few, but by the many. We can solve our old problems with new ideas. We are the signs of a new change.”

 

The Minister added that the decision of the economic supremacy to only certain areas has made many countries fall under the pressure of a few. South African Foreign Minister Naledi Pander criticized the fact that Africa is not represented in the Security Council.

The Minister added that the decision of the economic supremacy to only certain areas has made many countries fall under the pressure of a few.

 

South Africa’s Minister of Foreign Affairs, Naledi Pander, criticized  Africa denial of representation in the Security Council.

 

BRICS annual conference is expected to be held in South Africa next August, and discuss on the socio economical issues in detail  and the presence of Russian President Vladimir Putin is also expected.