They also called for a peaceful resolution of the conflict in syria and recognized iran’s right to a peaceful nuclear program.
The heads of state and government of the brics countries also expressed their concern about the crisis in the euro zone and the tense situation of the global economy on thursday in the indian capital. The joint development bank is intended to support projects in the brics countries and other emerging markets that are not supported by the international monetary fund (IMF) and the world bank. "We have instructed the finance ministers to assess the feasibility of this proposal by the next summit (in a year)," said indian prime minister manmohan singh.
In addition, agreements were signed to facilitate trade within the brics network. This includes the simplification of lending in the respective national sovereigns by the national development banks. According to experts, the agreement could more than double the volume of trade between the five countries to about 500 billion dollars (375 billion euros) by 2015.