The so called Brics countries – Brazil, Russia, India, China and South Africa – have vowed to forge closer trade ties at the end of their annual summit in Goa. <br /><br /> Leaders approved a raft of measures in Goa including a promise to better fight tax evasion. They also agreed to set up a new credit ratings agency. <br /><br /> Earlier, China’s President Xi warned that anti-globalisation and increasing protectionism was putting the world economy at risk. <br /><br /> “The global economic recovery remains fragile. Global trade and investment have slumped. Commodity prices continue to fluctuate. The underlying problems, which could trigger a global financial crisis, have not been solved.”<br /><br /> The Brics leaders also pledged to work closer on combating ‘‘cross border’‘ terrorism. But, India’s guests shied away from criticising arch-rival Pakistan, despite pressure from New Delhi.<br />
