BRICs sign agreements and reach a series of understandings

 The four countries in the multilateral group known as BRICs – Brazil, Russia, India and China – held their second summit yesterday in Brasilia. One of the agreements reached was cooperation among development banks for infrastructure projects.

The final declaration by the group called for United Nations reforms so as to turn that organization more “efficient, representative and objective.” However, the document did not clearly come out in favor of a permanent seat on the UN Security Council for Brazil, although president Luiz Inacio Lula da Silva and the prime minister of India, Monmohan Singh, were favorable to the idea.

In a closing statement, Lula declared that the BRICs have a fundamental role to play in building a new international order that is more just, representative and safe.