Address by the President of the Republic, Michel Temer, during a meeting with BRICS Leaders on the sidelines of the 14th G20 Leaders Summit

[...] Preliminary meeting. In fact, it has been very useful because, over time, throughout the BRICS meetings, or rather, the G20 meetings, there has always been a BRICS preliminary meeting. I have, therefore, already attended 6 meetings because we have practically two BRICS meetings per year. And I would like to say to my esteemed colleagues that, a decade ago, an economic crisis was unleashed that would have systemic effects, and to which none of us would remain indifferent. This memory helps us today to revisit the origin of the BRICS and reflect on its significance in the present and in the years to come.

We all know that the BRICS has emerged to offer answers to this serious crisis. We had a clear idea: to join forces and build collective responses to collective problems. Now, as we look back, we can say, that inspired by this simple but powerful idea, we have made great strides in many areas. We have worked to make the Bretton Woods institutions more representative and effective. We have contributed to improving the international financial framework with a new development bank and contingent reserve arrangement. We have also made progress in our collaborations in infrastructure, science and technology, healthcare and many other fields.

We have a heritage to celebrate and cultivate. Well, 10 years after that economic crisis, we face, once again, challenging moments. They are not the same challenges, but they are also collective challenges, which promote protectionism, isolationism and unilateralism and, therefore, requires, as before, collective responses. They demand that we stick to the same idea, simple but powerful, as I said. The simple idea of joining forces. And it is what we have done, under the aegis of what has already become our tradition.

The strength of the BRICS is what keeps us together. It is in those themes around which we can converge and generate concrete results. Individually and together, we raise our voices against protectionism and in defence of a rules-based international trading system. We reaffirm our support for the World Trade Organisation and its dispute settlement mechanism. And we are willing to give our input to debates taking place in the World Trade Organisation itself about the future of an organization that we want to see stronger and more active.

In the same spirit of unity of efforts, we are consolidating a new development bank, perhaps the greatest symbol of our capacity for cooperation. The bank has already proved profitable, having multiplied the more than 4 billion dollars we invested in it.

So far, as it is never too important to repeat, our institution has approved project financing that amounts to almost double that capital. And that is the trend that

must gain new impetus in the coming years, with the creation of the Regional Office for the Americas in São Paulo, precisely in Brazil, in my state. Always joining efforts, we have also made significant advances in science and technology.

In fact, I must say that we are particularly excited about the BRICS partnership for the new industrial revolution, a Chinese initiative that enjoys broad support in Brazilian scientific and business communities.

We think with equal enthusiasm of the Indian suggestion of establishing a joint research platform and innovation network, a BRICS future networks institute.

Another initiative in innovation is linked to the area of energy, which we want to see in full operation: the platform for cooperation in energy research of the BRICS, that is the result of a proposal from Russia. On our side, we have proposed to bring the science and technology organisations of our five countries closer together. Focusing on cutting-edge research, the BRICS innovation network could play a central role in each of our economies, in the development of technology-intensive products.

The cooperation that we carry forward in scientific research has also reverberated the field of healthcare. An important expression of this is the BRICS tuberculosis research network. The network promotes innovation in the study of and fight against this serious disease. And in so doing, it will reduce the costs of medicines and save public resources in combating the evil that affects significant portions of our populations.

In fact, also in healthcare, we are confident in the creation of the BRICS vaccine research centre, a South African project. You can rely on Brazil to shape this initiative further.

That is how, my colleagues, we affirm the ethos that should guide the BRICS. The ethos of development, an ethos that will continue to inspire us in 2019, already under the Brazilian presidency. And by the way, I want to say that in Brazil we are in a process of transition today. I even invited President-elect Jair Bolsonaro to come with me to Buenos Aires for the G20 Summit and for this meeting with the BRICS countries, but unfortunately, he cannot be with us today, as was his wish. And of course, on his behalf, the president-elect, in the most absolute conviction that he will have a very active participation in the BRICS, I convey his greetings and the message that he will be very pleased to receive you in Brazil next year on the occasion of the BRICS Summit.

Finally, if I may have a personal message, I would like to say that this meeting marks my farewell to the meetings of our group. I cannot fail to say a word of thanks, President Ramaphosa, President Xi Jinping, President Putin, Prime Minister Modi, to each one of you. Thank you very much for the invitation, for the friendship and for what we could do together. It was a pleasure and an honour for me. Thank you very much.