BRICS Summit to Change Course of 21st Century

Fortaleza (Brazil) July 16: Venezuelan President Maduro has said that the decision made ​​by the BRICS summit will change the course of the 21st century, the media reported Wednesday.

BRICS summit

BRICS Summit


“BRICS countries have made changes in the international political and economic order is very important decision,” Xinhua News Agency quoted Maduro words.


The bloc has “decided to create a development bank with $100 billion, and commercial and financial system among its members to use its local currencies instead of US dollars,” said Maduro.

Brazil, Russia, India, China and South Africa – the leaders of the world’s five emerging economies began their two-day summit Tuesday in the city of Fortaleza, Brazil.

They announced plans to establish a development bank will be headquartered in Shanghai, China’s financial center and a team of reserves arrangement (CRA).

“Our foreign policy is very advanced, it is in the center of all world events continue to deepen our alliance with the BRICS countries,” he said.

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