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Fortaleza Summit

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 (available here)
At its 6th Summit, the BRICS emphasized social inclusion and sustainable development. The debate was oriented by the theme "Inclusive growth: sustainable solutions". The Summit inaugurated the second cycle of BRICS. Each member country has hosted one meeting of Leaders.
The Fortaleza Summit showcased BRICS accomplishments and the discussions leading to the realization of its vast potential. Since its first Summit, in 2009, BRICS has consolidated its position as a positive force for the democratization of international relations and for the enhancement of existing institutions of international governance. It has also forged an impressive partnership carrying out cooperation initiatives in more than 30 areas between its members.
Among other topics, the Leaders discussed the Contingent Reserve Arrangement (CRA) and the New Development Bank (NBD). The CRA is an additional line of defense available to the BRICS countries in scenarios of Balance of Payments' difficulties. The NBD will finance infrastructure and sustainable development projects.
In Brasília, on the 16th, a working session was held between the Leaders of BRICS and the Heads of State and/or Government of South America. The dialogue between BRICS Leaders and their South American counterparts reflects the priority accorded to developing countries in the BRICS outreach strategy.
On the 14th, in Fortaleza, as part of the BRICS Summit, the following meetings were held: Finance Ministers and Central Bank Governors meeting, Trade Ministers meeting, Development Bank Presidents meeting, Business Forum and a session of the Business Council of the BRICS.
The Academic Forum of the BRICS was held in Rio de Janeiro, on the 18th and 19th March 2014; the meeting of the Think Tanks Council was also held in Rio de Janeiro, on the 17th March 2014.
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