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BRICS Media Forum held in Beijing & One Million Dollar Fund Established for BRICS Media

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BRICS Media Forum was held in Beijing, China from 7th to 8th June 2017. The forum was attended by the leaders of over 25 media groups from Brazil, Russia, India, China and South Africa.

More Details about BRICS Media Forum:

BRICS Media Forum was held with an objective to improve the high-end dialogue platform for the main stream media of BRICS countries, as well as advance innovation and promote fairness and justice of international public opinion.

  • The attendees discussed range of topics including multimedia innovation for media development, and duty and social responsibility of media outlets.
  • BRICS Media Joint Photo Exhibition highlighting the development and cooperation BRICS Media Forum held in Beijing & One Million Dollar Fund Established for BRICS Mediaachievements of BRICS was also held during the forum.
  • The BRICS media forum is the result of a joint initiative by Brazil’s CMA Group, Russia’s Sputnik News Agency, Xinhua News Agency of China, The Hindu group of publications from India and South Africa’s Independent Media.
  • Forum concluded on June 8, 2017 with an agreement on an action plan to promote media cooperation. The agreement envisages expanding and deepening the content, depth and breadth of BRICS media cooperation.

One Million Dollar Fund Established for BRICS Media

Cai Mingzhao, President of Xinhua News Agency and executive president of the BRICS Media Forum announced that Xinhua will provide 1 million U.S. dollars to establish the BRICS Media Fund.

  • This fund will be utilised for the implementation of the action plan to strengthen cooperation among BRICS Media.
  • The plan will promote six objectives, including balanced reporting, development of BRICS digital media, financial information services and promoting people- to-people contacts.

Quick Facts about BRICS:

Acronym BRICS, refers to five major emerging economies viz. Brazil, Russia, India, China and South Africa.

  • Originally as per term ‘BRIC’ coined in 2001 by then-chairman ofGoldman Sachs Asset Management, Jim O’Neill, South Africa was not a part of this grouping. It joined in 2010 and thereafter these countries have been collectively referred to as BRICS nations.
  • BRICS nations represent about 40% of world’s population and account for nearly 22% of gross world product.