Renan will quickly ratify the creation of the BRICS bank.
The commitment was made by the Senate president himself, on the afternoon of Wednesday the 16th, in a solemn session at the Chamber of Deputies; "As president of the Senate, I pledge my commitment to ratify the creation in a swift manner so that it becomes a reality at the beginning of 2016," stated Renan Calheiros (PMDB-AL).
Agency Board - The president of the Senate, Renan Calheiros, pledged this Wednesday afternoon, the 16th, in a solemn session at the Chamber of Deputies, to quickly ratify the creation of the BRICS development bank – Brazil, Russia, India, China and South Africa. "As president of the Senate, I pledge my commitment to ratifying its creation swiftly so that it becomes a reality at the beginning of 2016," he stated.
At a meeting held in Fortaleza this week, representatives from these countries decided to create a bank, with initial resources of $50 billion, primarily for investments in infrastructure. According to Renan, the initiative is the result of intense financial engineering work and political will, and represents "an unequivocal concrete step in the consolidation of the bloc."
The Senate president also praised the increased collaboration between China and Brazil and highlighted that there are "several joint projects" in sectors such as biotechnology, nanotechnology, the environment, and space exploration. Furthermore, he noted that the Asian country "is today Brazil's main trading partner, and in 2013, trade reached US$75,4 billion."
Despite this, he argues that "much can still be done" to diversify the exchange program and increase the integration of production chains. The Brazilian government, he said, gives "high priority" to cooperation in education, especially based on the Science Without Borders program. "200 scholarships have already been granted by the Chinese government, and there are plans for 5 places for Brazilian students in that country," he said.