STOCK MARKET BSE NSE

BRICS summit promotes unity among emerging economies

Beijing, March 31 (IANS) The fifth BRICS summit has promoted unity among major emerging economies and injected fresh impetus into the cooperation mechanism, Chinese Foreign Minister Wang Yi said Sunday.

Published: 31st March 2013 08:13 PM  |   Last Updated: 31st March 2013 08:14 PM   |  A+A-

The fifth BRICS summit has promoted unity among major emerging economies and injected fresh impetus into the cooperation mechanism, Chinese Foreign Minister Wang Yi said Sunday.

President Xi Jinping attended the summit, which brought together leaders of Brazil, Russia, India, China and South Africa, as part of his first overseas trip since assuming the presidency in March.

The meeting in Durban marked the first time that the high-profile annual gathering had come to Africa.

At the summit, President Xi expounded on China's view on the future direction, principles and areas of BRICS cooperation, and called for the establishment of a global development partnership among the five major emerging economies, Wang said.

The Chinese leader looked forward to deepened cooperation among the BRICS countries on an integrated market for trade and investment, financial and monetary affairs, transportation links, and cultural and people-to-people exchanges, the minister said.

These proposals, winning appreciation and positive responses from other BRICS leaders, outlined the direction of future BRICS cooperation from a strategic perspective, Wang said.

The leaders agreed to set up a BRICS development bank, a Contingent Reserve Arrangement(CRA), a business council and a think tank council.

They also reached broad consensus on jointly dealing with major global and regional issues, reforming the international monetary and financial systems, and promoting the cause of the global development.

The next BRICS summit will be held in Brazil in 2014.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp