BRICS Informal Meetings

2018 Buenos Aires meeting: Documents

BRICS informal meetings Index

2018 Informal Meeting: November 30, Buenos Aires, Argentina

The 2018 Informal BRICS Meeting convened on November 30 in Buenos Aires, Argentina, in conjunction with the 13th G20 Leaders’ Summit. This was an opportunity for the leaders of the BRICS nations—Brazil, Russia, India, China, and South Africa—to discuss reciprocal issues and strategize on a multilateral level in a more relaxed setting as compared to their formal yearly summit.

Buenos Aires, the capital and largest city of Argentina, served as the setting for this important assembly. Celebrated for its rich cultural heritage, architectural splendor, and vibrant economy, Buenos Aires provided an elegant and cosmopolitan environment where discussions on a variety of critical issues could unfold. As Latin America’s third-largest economy, Argentina’s hosting of the meeting further showcased the continent’s growing role in global economic matters, particularly as it relates to emerging markets.

The timing of the informal meeting was especially relevant, as the global economic landscape in 2018 was characterized by uncertainty due to rising trade tensions, particularly between the United States and China, concerns over the future of multilateral trade agreements, and the continuing need to ensure sustainable economic development amidst such challenges.

At the 2018 informal gathering, the quintet of world leaders likely discussed issues including but not limited to, the reform of international financial and trade systems, fostering a more inclusive approach to global development, and combating protectionism and unilateralist policies that could interfere with the economic growth of developing nations.

One of the main topics for BRICS nations around this period included the need to strengthen cooperation and solidarity among emerging economies in the face of protectionist sentiment and to advocate for a fairer and more equitable international economic order. Additionally, the informal meeting would have served as a perfect opportunity to address shared concerns about global economic risks, to reinforce financial stability, and to discuss how BRICS could contribute to enhancing global governance.

Moreover, discussions undoubtedly touched upon building sustainable pathways for development to tackle climate change, which aligns with the broader international community’s goals under the Paris Agreement. The exchange of ideas at the meeting highlighted the strategic roles BRICS countries play in the transition to a greener global economy, given their significant influence and combined economic power.

The gathering also offered a moment to reflect on the progress of the BRICS-led initiatives like the New Development Bank, and the Contingency Reserve Arrangement, which serve as instruments for financial and economic collaboration between the member states.

In summary, the 2018 Informal BRICS Meeting in Buenos Aires was pivotal as it brought together influential leaders of emerging economies to deliberate on pressing global issues, champion a multilateral approach to international challenges, and consolidate their collaborative endeavors for proactive engagement in the G20 Summit. It underscored BRICS’ commitment to enhancing policy coordination to bolster economic growth, development, and stability in a rapidly changing world environment.

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