PM Modi to attend BRICS and SCO summit in Ufa

• After successful visit of two central Asian countries Uzbekistan, Kazakhstan Prime minister Narendra Modi has reached Russia on his 3 days trip.
• He is going to attend 7th BRICS summit and Shanghai Cooperation Organization summits in Ufa, Russia.
• First he is going to attend the BRICS summit for 2 days where five nations- Brazil, Russia, India, China and South Africa are going to participate.

Main agenda on BRICS discussion:-

• Theme:-powerful factor for Global Development
• To enhance the economic cooperation.
• To create a currency pool under Contingent Reserve Arrangement (CRA) in order to reduce the monopoly of global transaction though western currencies.
• CRA to handle all financial risk of the member countries.
• Discussion on new development bank.(NDB)
• Currency swap on member countries.
• India plays as the most important country in BRICS
• BRICS also has a very crucial role of maintaining world peace and security and ensuring leaving behind a better planet for the future generations.

Shanghai Cooperation Organization (SCO) Summits:-

• 6 nations (China, Russia, Kazakhstan, Kyrgyzstan, Uzbekistan and Tajikistan) membered SCO summit, along with India and Pakistan is going to be held on 9-10 July.
• India’s membership along with Pakistan will be confirmed by next year as per the info given by Russia officials making SCO as 8-membered countries.
• Modi expected to meet China president Xi Jinping and Pakistan counterpart Nawaz Sharif during the summit.
• The meeting is expected to be regarding peaceful bilateral relationship, counter- terrorism cooperation, cooperation in energy sector, enhancing trade and dealing with drug trafficking.
• Apart from these India and Pakistan are expected to discuss about bilateral relations, releasing of fishermen on occasion of ramzan.
• India and china too expected to have a meeting on bilateral ties and India’s unhappiness over Beijing constructing an economic corridor with Pakistan passing through PoK , although India has expressed concerns over China’s recent decision to block action against Pakistan in the UN over release of Mumbai attack mastermind Zaki-ur Rehman Lakhvi.