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European nations and main non-Western financial powers talk about 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 nations are holding a digital gathering hosted by China on the identical dates.
The scenario in Ukraine and its bid to turn out to be a part of the Union high the agenda on the EU summit. European leaders will talk about financial crises world wide 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 economic system within the wake of the Covid-19 pandemic.
READ MORE: Russian SWIFT substitute prepared for BRICS – Putin
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 affix BRICS and shall 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 towards 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.
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