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The eighth BRICS summit was opened in the Indian state Goa on Sunday, October 16
The eight BRICS summit was officially launched in the Indian state Goa by the ceremony of taking collective photos of the leaders of the union countries.

After the photographing the official events, which will take place in Taj Exotica hotel, are scheduled. Presidents of Russia, Brazil, and RSA Vladimir Putin, Michel Temer, and Jacob Zume, as well as Prime-Minister of India Narendra Modi, and the PRC Secretary of State Xi Jinping will meet in the restricted attendance and afterwards will carry out the negotiations with the members of the BRICS Business Council and the plenary session with the participation of the national delegations.

After that the signing of joint documents is expected. They include Goa declaration and the union action plan for the foreseeable future.

President of the RF at taking the collective photos with the BRICS leaders. President of RAS Jacob Zuma is on the right and from the left to the right: President of Brazil Michel Temer, Prime Minister of India Narendra Modi, and the PRC Chairman Xi Jinping.
By evening the leaders of the states will move to Leela hotel, where they will meet with the representatives of BIMSTEC (The Bay and Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation). In addition to India it includes Bangladesh, Bhutan, Myanmar, Nepal, Sri Lanka, and Thailand.
The BRICS countries heads take the point of view of entrepreneurs into account in the development of prospect plans of trade, economic, and investment cooperation within "five", — Putin has stated.

"Russia will continue to promote the drawing of economies of "five" together and to arrange the preconditions for the launch of new business projects. Russia invites the entrepreneurs from all BRICS countries to work at our market and to develop the partnership with the Russian companies," Putin has stated during his speech at the meeting with the BRICS leaders at the business council of "five". The BRICS has a large consumer market, which includes 3 bln. people,
a developed science and technology base, and large reserves of raw materials, the President of Russia has pointed out.

President of Brazil Michel Temer
President of Brazil Michel Temerhas invited the BRICS countries to invest into the infrastructure and energy projects in this South African country.

He has stated that currently the authorities of the country launch about thirty four infrastructure projects in such spheres as the construction of ports, airports, and railways as well as in the energy and gas spheres.

"I can assure that after the measures taken we can state the security of the future investments… Therefore, I invite the companies of the BRICS countries to invest in Brazil and to participate in this new moment of the country. You will see a country with the political stability, legal security, and big consumer market," Temer has stated during his speech at the BRICS summit.


"I will also address the Brazilian entrepreneurs, so that they learn more about the projects being implemented in India, China, RSA, and RF. The cooperation between the entrepreneurs and our countries will become a catalyst for the new projects," he has added.

New Development Bank (NDB) established by the BRICS member countries intends to consult with the Bank for Development and Foreign Economic Activities (VEB) on the issues of entering the Russian debt market with the aim to place the obligations in rubles in 2017, the NDB President Kundapur Kamathhas informed TASS.

"We intend to consult with VEB on the issues connected with the NDB entrance to the Russian debt market and NDB's obligations placement scheduled in 2017," Kamath has stated.

Among the prospect directions of interaction with VEB the bank head has stated "the co-financing of infrastructure projects and engagement of expertise of the Bank for Development and Foreign Economic Activities in the implementation of projects in Russia, which can be financed with the NDB participation.

The bank also hopes to get the Russian state corporation's support in the issues of staffing and technical cooperation taking into account the "considerable experience of VEB participation in the international projects".

The agreement for the arrangement of the New Development Bank with the headquarters in Shanghai was signed during the sixth BRICS summit in Brazil in 2014. The bank is intended to become a platform for the development of mutual investments and trade between the organization member countries as well as for the financing of infrastructure projects in the BRICS and developing countries.

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