China’s defence comes a day after Prime Minister Narendra Modi raised the issue with Chinese President Xi Jinping on the sidelines of the BRICS and Shanghai Cooperation Organisation (SCO) summits in Ufa, Russia.
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Russian President Vladimir Putin said on Thursday that sustainable global management could be reached only on the basis of fair partnership.
In his remarks at a summit and meetings with leaders of the BRICS bloc, which also includes Brazil, Russia, India and South Africa, Xi said the group should work together to protect the interests of emerging markets and developing nations.
The bank will bring great benefits and support specific projects in various areas including industrial cooperation, said Zhu.
Whatever Modi’s intentions behind suggesting the event and volunteering to organize it, demonstrating India’s sporting prowess can not be one of them. The institution’s board of governors will hold its first meeting in Moscow to appoint members of the board of directors and the management.
But Modi’s comments represent the first time India’s Prime Minister has linked unilateral sanctions to the larger volatility in the world economy, effectively laying a part of the blame for the fears of a global crisis on the USA and the EU.
“We call upon all states and the worldwide community to adhere to their commitments and obligations and in this regard to resist political approaches and selective application”, it said.
It is our responsibility that we deal effectively with the current challenge of terrorism, he said.
The declaration signed by BRICS leaders, issued at their meeting in the Russian town of Ufa, is set on confirming the organization’s unified vision on issues of worldwide importance.
Members should promote the development of the bank’s headquarters and a regional center in Africa, said Xi, who urged more countries to support the bank.
“Pakistan’s economic growth has remained steady”.
“The economic and trade cooperation among BRICS nations have entered a critical and important period”.
America and the European Union have imposed a series of sanctions against Putin’s administration after Russian Federation annexed Crimea from Ukraine in March 2014.
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The hostility between Pakistan and India dates back seven decades, but strains have grown since nationalist Indian Prime Minister Narendra Modi took office a year ago.
