Summit over substance : 10 POINTS : BRICS

LEAD : THE HINDU : Summit over substance 18/09/2016 : 10 POINTS :

  1. 8th Annual summit of BRICS in Goa on October 15-16, 2016. India’s Act East policy.

  2. Theme of the India summit : “Building Responsive, Inclusive and Collective Solutions”

TRICK TO REMEMBER THE HOSTS OF SUMMITS : Interchange the first two words of BRICS. i.e., RB-CI-S-BRI.

  1. India - instead of calling SAARC mems, asked the BIMSTEC members to host. But why? to avoid having to invite Pakistan.

  2. BIMSTEC + SAARC summits have been somnolent(inactive/sleepy) since its inception.

  3. The China-Russia dynamic : Greater world attention on this summit coz., China + Russia they defied the U.S. and the West .

  • Sino-Russian joint naval exercises= South China Sea off the coast of Guangdong province.

  • china rejected international tribunal award on SCS dispute.

  • India-Russia-China trilateral Foreign Ministers’ meeting in Moscow (04/2016) : respecting Principles of International law + UNCLOS ; Declaration on the Conduct of Parties in the South China Sea (DOC) and the Guidelines for the implementation of the DOC.

  • But this happened before the NSG issue - in which china denied our membership to NSG + blocking at the UN of naming the Pakistani Jaish-e-Mohammed chief Masood Azhar as a terrorist.

  1. A triangular game : Brazil + Africa : both suffering from both political and economic turmoil. We cannot expect any notable initiatives from them.

  • strong and categorical statement on counter-terrorism by india - would be hardly acknowledged by CHINA OR RUS. BRAZ OR AFR = no role to play.

  1. Outcomes of the summits :

  • New Development Bank + its indian prez K.V. Kamath = we received $300 million from this bank. But Asian Infrastructure Investment Bank (AIIB) led by the Chinese is more powerful.

  • The Contingent Reserve Arrangement (CRA) = but not implemented yet.

  • BRICS Credit Rating Agency = to challenge the monopoly of the West ; less value.

  • Possibility of BRICS trade Agreement V. Trans-Pacific Partnership (TPP) and the Transatlantic Trade and Investment Partnership (TTIP)

  1. Mekong-Ganga Cooperation (MGC), which is a platform for India’s exclusive engagement with the countries of Indo-China (Thailand, Laos, Cambodia and Vietnam) and Myanmar + BIMSTEC = India - due to involvement in geopolitical issues - unable to play a significant role in shaping its emerging economic and security architecture.

  2. Trailing on connectivity : Our capacities and institutions continue to lag behind our ambitions. If we open up any connectivity plans, it may not seem as “fresh initiatives” + end up supplementing China's ambitious One Belt, One Road initiative.

  3. it is time to move from an event-oriented to a process-driven approach = to become regionally and as a globally significant player.

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