Addressing the Plenary session of the Summit Prime Minister Manmohan Singh urged BRICS nations to jointly work towards responding to the foremost challenge of overcoming the global economic slowdown. Dr. Manmohan Singh said the impact of the financial crisis still persists and BRICS nations will continue to be key drivers of global economic growth.

He also urged BRICS nations to impress upon international bodies including the United Nations and the IMF for reform of global institutions of political and economic governance in tune with the contemporary realities.

Handing over the BRICS Chairmanship to South Africa Dr. Singh expressed satisfaction at the progress during India's Chairmanship over the past years. Dr. Singh said he was confident that under South African President Jacob Zuma's leadership, intra-BRICS cooperation will be further strengthened and BRICS will emerge successful in its global role and relevance.

AIR correspondent reports, Agreements signed at Durban on day also include a multi-lateral agreement on financing green economic project and also an agreement for infra structural co-financing for Africa. A think tank Forum was also formed to support BRICS initiatives.