The leaders of five of the world's rising powers ended a two-day summit Sunday with a pledge to speed global economic recovery as well as fight terrorism and extremism, forces that they said pose a threat to regional and international peace and stability. The BRICS leaders adopted three agreements, including two to set up separate research networks for developing agriculture and railways. "We have agreed to make the BRICS a strong voice on emerging regional and global issues," Modi told reporters. The BRICs leaders stressed the need to strike a balance between economic development and environmental protection, and hailed the early entry into force of the Paris climate agreement. The thrust of the declaration reflected the flagging economic fortunes of the BRICS countries in recent years due to the global slowdown.

Source: ABC News October 16, 2016 06:12 UTC