India's prime minister, Narendra Modi, called for doubling trade within the BRICS bloc in the next five years to $500 billion, dismantling trade barriers and improving infrastructure.

The BRICS countries stressed the UN's central role in coordinating multilateral approaches against terrorism.

Despite the recent problems that each member state was facing internally and on the worldwide level, it seems that BRICS countries are willing to stand by their principles, showing that with initiatives like the organization's own New Development Bank, and the proposed rating agency for emerging economies, together they can protect their interests and work effectively towards common goals. Of the 109 paragraphs in the document, six deal with the issue of terrorism. The BRICS nations agreed today to fast-track the setting up of their own credit-rating agency to better cater to developing economies, rivalling existing ones based in Western countries.

"Peace and stability in the region is an importnat element for economic prosperity".

He said that BRICS leaders also agreed to focus on institution building within the BRICS with an effective way to pursue the development agenda.

He also said, that in particular, areas of commerce, connectivity, culture, security and disaster management appear promising as far as identifying collaborative possibilities is concerned, adding that India, being a member of both blocs, would be "happy to take a lead in this directiona".

They also called for the blocking of sources of financing terror through money laundering, drug trafficking and other criminal activities.

"BRICS must speak in one voice against this threat", Modi said, without naming Pakistan directly.

The Goa declaration calls for a "holistic approach" and says all counter-terrorism measures should "uphold global law and respect human rights".

Putin's office said in a statement that "international terrorism and the Syria peace process" would be discussed.

The FATF is an intergovernmental organisation founded in 1989 on the initiative of the G7 to develop policies to combat money laundering.

Pakistan, Afghanistan and Maldives are the members of the South Association for Regional Cooperation (Saarc) that are also not members of Bimstec. "We agreed to strengthen cooperation in combating worldwide terrorism both at the bilateral level and at global fora", said the 102-para declaration. Beijing has blocked India's attempt to join the Nuclear Suppliers Group, sought closer ties with Pakistan and has concerned New Delhi with investments in neighboring South Asian countries.

"I guess it does not concern them mainly, BRICS".

Addressing the BRICS and BIMSTEC Summits here, he said Pakistan "embraces and radiates" the darkness of terrorism and pressed for "comprehensive" and "collective" action against the menace and its supporters, warning that any selective approach will be "counter-productive".

He also appeared to be sending out a message to the Chinese President whose country has blocked designation of Pak-based terror group JeM chief Masood Azhar as a global terrorist by the United Nations as he said that those supporting terrorism have to be "punished, not rewarded".