The changing game of multilateralism

The 2014 World Cup may by now feel like a distant memory – except of course for the Germans and, alas, for the Brazilians. But diplomatic manoeuvres and meetings on the margins of the second major global sporting event of the year (after the Winter Olympic Games in Sochi) also reflected ongoing shifts in economic and political relations ­worldwide.

These shifts, in part epitomised by the launch of the BRICS Development Bank, stand to reverberate on the international scene for some time to come, and will no doubt be felt at the forthcoming annual session of the UN General Assembly in New York.

Brazil hosted, on the 14th, 15th, and 16th July 2014, the 6th Summit of Heads of State and of Government of BRICS, held in Fortaleza and Brasília. The Summit adopted the Fortaleza Declaration and Action Plan, the Agreement on the New Development Bank, the Treaty for the Establishment of a BRICS Contingent Reserve Arrangement and agreements among BRICS Development Banks and Export Credit Insurance Agencies.

Issue Alert by Eva Gross.

Website: 6th BRICS summit, Fortaleza and Brasilia, 14-16 July 2014 http://www.brics6.itamaraty.gov.br/

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