European international locations and main non-Western financial powers focus on world challenges and growth at separate gatherings
Two main financial integration organizations – the European Union and BRICS – are holding key summits this week. The leaders of EU member states are gathering in Brussels on Thursday for a two-day assembly, whereas BRICS international locations are holding a digital gathering hosted by China on the identical dates.
The state of affairs in Ukraine and its bid to develop into a part of the Union high the agenda on the EU summit. European leaders will focus on financial crises around the globe and the way they have an effect on the continent, in addition to key international coverage points.
In the meantime, Beijing will this week be internet hosting the 14th summit of BRICS rising economies, uniting Brazil, Russia, India, China and South Africa. Member states will chart plans for nearer financial, safety and public well being cooperation, and set targets for reviving the worldwide financial system within the wake of the Covid-19 pandemic.
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Beijing, which holds the rotating presidency of BRICS, has argued for increasing the group by together with Argentina as a full member. The Latin American nation has expressed its need to hitch BRICS and will probably be attending the summit.
The digital assembly of BRICS leaders would be the highest-profile worldwide occasion for Russian President Vladimir Putin since he ordered an assault in opposition to Ukraine in February. As Western nations have sought to punish Moscow with financial sanctions, Russia has prioritized commerce with nations together with China and India, to mitigate the affect of Western commerce restrictions.