BRICS Should Play Bigger Role in Int'l Affairs: President Xi

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Chinese President Xi Jinping said Sunday that BRICS members should enhance coordination to make emerging-market economies and developing countries play a bigger role in international affairs.

Since the beginning of this year, cooperation among BRICS countries -- Brazil, Russia, India, China and South Africa -- has maintained sound momentum with an expanded scope and more outcomes, Xi said while addressing a BRICS leaders' meeting on the sidelines of G20 Summit in Hangzhou.

Participating in the informal meeting were Indian Prime Minister Narendra Modi, South African President Jacob Zuma, Brazilian President Michel Temer, and Russian President Vladimir Putin.

BRICS nations are leaders among emerging-market economies and developing countries, and also important members of the G20, Xi said, noting that they should reinforce coordination to build, maintain and develop the BRICS and G20 platforms.

At the meeting, BRICS leaders exchanged views on a wide range of important global issues of common concern, including political, security, economic and global governance sectors.

Xi proposed four suggestions on how to enhance cooperation and deepen mutual trust among BRICS countries.

First, Xi urged BRICS countries to take innovative measures to promote the economic growth.

The president called on the BRICS members to expand the domestic demands, deepen the structural reform, enhance the traditional comparative advantages and promote the growth potential in the mid-to-long term.

The five countries should implement the Strategy for BRICS Economic Partnerships reached at the Ufa meeting in 2015, and enhance cooperation in trade, investment, finance, infrastructure, and culture.

Second, Xi urged BRICS countries to make joint efforts to improve global governance.

The president called on the BRICS members to promote the reform of the governance structure of the International Monetary Fund and the World Bank, so that emerging-market and developing countries would have greater representation and greater say.

The five countries should also work to safeguard the position of multilateral trade system as the key channel, jointly build an open world economy and oppose all kinds of protectionism and exclusionism, to ensure that all countries will be equal in terms of development rights, opportunities, and rules, Xi said.

The president also called upon members of the emerging-market bloc to drive the BRICS New Development Bank to implement the first batch of projects and boost the bank's management level and financing capabilities.

The bank should promote the capabilities of macro research on the contingent reserve arrangement in order to enhance financial security for BRICS countries, he said.

Third, Xi urged BRICS members to jointly work to safeguard international equity and justice and build a peaceful and stable environment for development.

The president called upon the emerging-market bloc to help build new-type international relations featuring win-win cooperation and cultivate a peaceful, stable, equitable and reasonable international order.

The BRICS members should insist that each country chooses its own development path in accordance with its national conditions, and resolutely opposes the interference in its internal affairs by external forces, Xi said.

The president also called for increased cooperation in the fields of counter-terrorism, outer space, energy security, and cyber security under the framework of BRICS.

Fourth, Xi urged BRICS countries to build new-type global development partnership in line with the G20's action plan for implementing 2030 Agenda for Sustainable Development, and push developed countries to fulfill their commitments and provide strong support for developing countries to reach development goals.

Despite challenges in their respective economies, BRICS members recognized that they are still critical engines for global economic growth due to positive growth momentum and prospects, according to a statement issued after the meeting.

The nations should strengthen BRICS strategic partnership guided by principles of openness, solidarity, equality, mutual understanding, inclusiveness and win-win cooperation.

BRICS leaders appreciated the emphasis on development at the G20 under China's presidency, encouraging G20 members to strengthen macro-economic cooperation, innovation, robust and sustainable trade, and investment growth. More on:!language=1

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