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List of Things Discussed at the BRICs Summit Is Impressive

  • Cooperation with Mongolia looks set to increase. Putin remarked on the great potential of Chinese-Mongolian-Russian cooperation.

  • Mongolian President has requested that China and Russia rethink the Siberian-2 pipeline, and consider instead running the pipeline through Mongolia, which would be cheaper and faster than build the current plan which would take the pipeline over the mountainous Altai region.

  • BRICS start a reserve currency fund with $100 billion pool.

  • India looks set to officially join the Shanghai Cooperation Organisation (SCO).

  • Some manager agreements have been made on the group's development. This involves nailing out some of the infrastructure and innovation projects planned. These are the projects that fall under the 'new silk roads' mostly. More details likely to come.

  • BRICS are going to be looking at some joint approach to combating terrorism.

  • Are working on strategies for food provisions for most vulnerable communities.

  • Bullet-proofing joint economies against severe fluctuations in oil prices.

  • Agreed to multilateral approach (cooperation) to global challenges (read US hegemony, and NATO).

  • There's hints that the BRICS could be welcoming Iran aboard, or at least looking at increasing cooperation with the nation. Turkey, Indonesia, Mexico, Egypt, Argentina, Nigeria, and Greece are also expressed interested in joining BRICS officially. For Greece, this would be impossible while it remains within the EU.

  • Possibly most important, BRICS set to expand use of national currencies in mutual trade. BRICS nations are involved in 75% of all world trade (either between, or involving a BRICS nation), with a growing percentage of that trade happening between BRICS nations. Trade between Russia and China is set to increase by around $100 billion in 2015. Use of national currencies to settle trade between the two nations has increased by more than 800%.

  • BRICS nations agree to cooperate on preventing 'revision' of history.

  • BRICS Development bank will start launching projects as early as 2016.

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