FM discusses issues of bilateral cooperation with Russian, Chinese counterparts
These meetings were held on the sidelines of the BRICS Finance Ministers and Central Bank Governors meeting in Rio de Janeiro.
New Delhi, Jul 6 (PTI) Finance Minister Nirmala Sitharaman held a series of bilateral meetings, including with Russian and Chinese counterparts, and discussed issues of bilateral cooperation and interests.
The two leaders discussed India-Russia long-standing partnership.
The finance minister observed that India and Russia enjoy exemplary levels of mutual trust and understanding and our Special and Privileged Strategic Partnership remains resilient and steadfast, it said.
The two sides also discussed issues of bilateral cooperation, including cooperation in the financial sector, along with matters related to NDB.
In another bilateral meeting with her Chinese counterpart Lan Fo'an, both leaders discussed strengthening collaboration across a wide range of areas due to the common rich human capital, deep civilisational ties, and expanding economic influence.
The two leaders recalled their last meeting in Samarkand in September 2024 on the sidelines of the AIIB Annual Meetings, another post by the finance ministry said.
Sitharaman underlined that India and China are uniquely positioned to drive inclusive global growth and innovation as the two nations are the largest and fastest-growing economies in the world.
The finance minister suggested that deeper engagement between the two countries can help amplify the voice of developing economies, and shape global narratives that reflect the priorities and aspirations of the global South, it said.
During bilateral meeting with Thomas Djiwandono, Vice Finance Minister of Indonesia, Sitharaman said India looks forward to hosting the Indonesia Economic and Financial Dialogue soon.
She also thanked Indonesia for their support in the aftermath of the Pahalgam terror attack, a separate post on X by the finance ministry said.
The two leaders also discussed BRICS, UPI, and RuPay, G20, MDB Reforms, bilateral trade, tourism, FinTech and financial markets, it said.
In the bilateral meeting with Finance Minister of Brazil Fernando Haddad, she discussed issues of bilateral interests.
The two leaders discussed issues of mutual interest, including South-South cooperation, amplifying the voice of the Global South, COP30, and climate finance issues, and engagement in regional and global forums such as the United Nations, G20, BRICS, WTO and IBSA, the finance ministry said in another social media post.
Appreciating the deep work by Brazil during its BRICS Chairship, including commitment to a multipolar world order, and expansion of BRICS, Sitharaman said India supports the agenda and priorities set by Brazil, and hopes to carry forward the outcome-oriented cooperation when India takes over the Chairship in January 2026.
She said India and Brazil, as strategic partners, share warm and cordial ties spanning across multiple sectors, and are cooperating closely in multiple sectors to further strengthen strategic partnership. PTI DP TRB
This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
17 minutes ago
- Time of India
‘Mr. Trump, BRICS Doesn't Compete...': South Africa's Ramaphosa Gives U.S. President 'Reality Check'
South African President Cyril Ramaphosa hit back at his U.S. counterpart Donald Trump's criticism of BRICS. He said, "There needs to be greater appreciation of the emergence of various centres of power in the world. This should be seen in a positive light rather than in a negative light [...] BRICS does not seek to compete with any other power." He also reiterated his call for African representation on the United Nations Security Council during BRICS summit in Brazil on Monday, while defending the bloc's importance in 'global governance'. Watch.
Economic Times
18 minutes ago
- Economic Times
Xi Jinping resigning soon? Shocking rumours spark regime change buzz as Chinese Prez goes missing
In a move that's sent shockwaves through global politics, Chinese President Xi Jinping skipped the 17th BRICS Summit, his first absence since taking power in 2012. While Beijing claims it was due to 'scheduling conflicts,' reports say there's much more beneath the surface. Show more 12:43 10:00 01:44 03:14 02:18 03:16 04:30 02:08 03:01 02:29 02:46 03:14 02:47 02:31 04:05 09:42 10:24 02:46 04:39 09:33 08:01 08:14 05:40 04:42 03:46 03:44 04:48 07:34
Time of India
19 minutes ago
- Time of India
How one tiny Myanmar town controls the globe's rare earth supply and is holding the world hostage
Bhamo, a town in the northern hills of Myanmar, home to just 166,000 people, may appear to be a small town, but it is where almost half of the world's heavy rare earths are found, like the minerals essential for electric cars and wind turbines, as per a report. The Civil War That Could Disrupt EVs Worldwide Since December, Kachin Independence Army (KIA), an ethnic militia, has been fiercely fighting Myanmar's junta for control of Bhamo, which is a civil war that started after the military's 2021 coup, as reported by Reuters. The town is within 100 kilometres of the Chinese border and is a strategically vital garrison town, according to the report. The takeover of Bhamo would grant the KIA control of the primary rare-earth mining area, something that has shaken China and caused supply chain disturbances globally, as per the Reuters report. China's Critical Role in Rare Earth Processing The heavy rare earths are usually shipped to China for processing into magnets that power electronic vehicles and wind turbines, as China has a near-monopoly over the processing of the minerals, as reported by Reuters. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo ALSO READ: SoFi stock surges 7% on Trump tax plan hype — earnings buzz builds ahead of July 29 Beijing's Ultimatum China has now reportedly threatened to stop buying the minerals mined in KIA-controlled territory unless the militia stops trying to seize full control of Bhamo, Reuters reported, citing people familiar with the matter. Live Events A KIA official told Reuters that, in May, China had made its demand, and a KIA commander pointed out that Beijing was represented by foreign ministry officials at the talks, according to the report. The ongoing fight in the region has limited mining operations, and rare-earth exports from Myanmar and now China is "using its dominance to shore up Myanmar's beleaguered junta, which China sees as a guarantor of its economic interests in its backyard," wrote Reuters in its report. While China's foreign ministry told Reuters that it was not aware of the specifics of deliberations with the KIA, but said that, "An early ceasefire and peace talks between the Myanmar military and the Kachin Independence Army are in the common interests of China and Myanmar as well as their people," as quoted in the report. ALSO READ: Wolfspeed stock soars over 100% after shock CFO appointment — who is Gregor van Issum? The KIA official revealed that Beijing had offered a greater cross-border trade with KIA-controlled territories if the militia stopped efforts to seize Bhamo, as reported by Reuters. The official said, "And if we did not accept, they would block exports from Kachin State, including rare-earth minerals," as quoted in the report. An independent Myanmar-focused analyst, David Mathieson, pointed out that Beijing is not seeking to resolve the wider civil war, but it wants fighting to stop as it wants to advance its economic interests, and said that, "China's pressure is a more general approach to calming down the conflict," as quoted in the Reuters report. Conflict Disrupts Mining and Exports The ongoing conflict in Bhamo started just after the KIA wrested control of the main rare-earth belt in Kachin last October, and since its takeover, the KIA has increased taxes on miners and throttled production of dysprosium and terbium, sending prices of the latter skyrocketing, as reported by Reuters. FAQs Who is fighting over Bhamo? The Kachin Independence Army is fighting Myanmar's military junta for control of the region, as per the Reuters report. What happens if China follows through on its threat? Global supply chains could be shaken, prices for rare earths could spike, and manufacturers might struggle to get the materials they need, as per the Reuters report.
