UPSC Prelims 2015 Q3: Current Affairs – International Organisations & Groupings
The ‘Fortaleza Declaration’, recently in the news, is related to the affairs of
- (a) ASEAN
- (b) BRICS
- (c) OECD
- (d) WTO
Answer: (b) BRICS
Explanation
Fortaleza Declaration
It was issued at the Sixth BRICS Summit held at Fortaleza, Brazil, in July 2014.
| Outcome | Detail |
|---|---|
| New Development Bank | Headquarters Shanghai; first President from India |
| Contingent Reserve Arrangement | 100 billion dollars to help members facing balance of payments stress |
| Theme | Inclusive growth: sustainable solutions |
BRICS at a glance:
| Feature | Detail |
|---|---|
| Original members | Brazil, Russia, India, China, South Africa (joined 2010) |
| Term coined by | Jim O'Neill (as 'BRIC', 2001) |
| First summit | Yekaterinburg, 2009 |
It is not related to ASEAN, the OECD or the WTO.
Answer: (b) BRICS.
Why each option is right or wrong
- (a) Incorrect. ASEAN declarations are named after South-East Asian cities.
- (b) CORRECT. The Fortaleza Declaration came from the Sixth BRICS Summit in Brazil.
- (c) Incorrect. The OECD did not issue any Fortaleza Declaration.
- (d) Incorrect. WTO outcomes are named after ministerial venues such as Bali or Doha.
Key point
Fortaleza Declaration (BRICS, 2014): set up the New Development Bank (Shanghai) and the 100 billion dollar Contingent Reserve Arrangement.
Remember
Fortaleza = BRICS 2014 = New Development Bank.
Common mistakes
- Not knowing that Fortaleza is a city in Brazil.
- Confusing the New Development Bank with the AIIB.
- Forgetting the Contingent Reserve Arrangement agreed at the same summit.
Exam tip
Place the city first. Fortaleza is in Brazil, and Brazil is in BRICS.
Sources
- Ministry of External Affairs — Sixth BRICS Summit: Fortaleza Declaration (15 July 2014)
- New Development Bank — Agreement on the New Development Bank