7th BRICS Meeting Concluded
Recently, India has organized the 7th BRICS ‘Labour & Employment Ministers’ Meeting. The meeting is chaired by the Union Minister of Labor and Employment of India.
The objective of the event is to deliberate on the impact of COVID-19 on the global labor market and to reach consensus on specific areas of cooperation among BRICS member countries.
An important aspect of the meeting was the adoption of the manifesto of the BRICS Labor and Employment Ministers. It focuses on the following 4 key areas:
- To promote social security agreements among BRICS nations.
- The formalization of labor markets.
- Women’s participation in the labor force.
- Gig and platform workers.
- The first meeting of the leaders of BRIC (Brazil, Russia, India and China) countries was held in St. Petersburg, Russia in July 2006. The first BRIC summit was held in 2009 in Yekaterinburg, Russia.
- After South Africa was accepted as a full member in 2010, the name of the BRIC grouping was changed to BRICS (Brazil, Russia, India, China and South Africa).
- BRICS is a forum uniting major emerging economies of the world. This group accounts for 41 percent of the global population, 24 percent of the global GDP and more than 16 percent of world trade (based on World Bank 2019 data).
Source – The Hindu