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                       BRICS Summit Opens in South Africa

   by VOA News

   Leaders from Brazil, Russia, China, India and South Africa are meeting
   in the South African port city of Durban for a summit of the five
   emerging economies known as BRICS.
   The forum is focusing on plans to establish a joint development bank to
   rival the World Bank and IMF.
   Ahead of the official summit opening, finance ministers from China and
   Brazil signed an agreement to use their own currencies in bilateral
   trade. The two countries do tens of billions of dollars in trade each
   year.
   Meanwhile, South African President Jacob Zuma met with his Chinese
   counterpart Xi Jinping to sign bilateral agreements focusing on trade,
   tourism, education and social cooperation.
   Some information for this report was provided by AP, AFP and Reuters.
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   [1]http://www.voanews.com/content/brics-summit-opens-in-south-africa/16
   28899.html

References

   1. http://www.voanews.com/content/brics-summit-opens-in-south-africa/1628899.html