Cabinet Approves Signing of MoU Amongst BRICS Nations On RAPC

The Union Cabinet has approved the signing of MoU amongst BRICS Nations on the Regional Aviation Partnership Cooperation (RAPC). The objective is that BRICS countries will benefit from the establishment of an institutional framework to cooperate in the field of civil aviation. 
The MoU signifies an important landmark in the civil aviation relations between India and other BRICS Member States and has the potential to spur greater trade, investment, tourism and cultural exchanges amongst the BRICS Nations. 
Source- Press Information Bureau (PIB)

Static/Current Takeaways Important for SBI PO/Clerk Exam 2018- 
  • BRICS is made up of China, Brazil, Russia, India and South Africa.
  • In December 2010, China, as the Chair, invited South Africa to join BRIC and attend the Summit in Sanya, China. 
  • The 1st BRIC Summit was held in June 2009 in Yekaterinburg, Russia.