Xi: BRICS countries should speak with one voice

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Chinese President Xi Jinping called on BRICS countries - Brazil, Russia, India, China and South Africa - to play a more active part in global governance on Monday at the ninth BRICS summit in Xiamen, a coastal city in southeast China's Fujian Province.

"We should speak with one voice and jointly present our solutions to issues concerning international peace and development," Xi said in a keynote speech at the plenary session of the summit, which was also attended by Brazilian President Michel Temer, Russian President Vladimir Putin, Indian Prime Minister Narendra Modi and South African President Jacob Zuma.

Chinese President Xi Jinping (C), Brazilian President Michel Temer (L1), Russian President Vladimir Putin (L2), South African President Jacob Zuma (R2) and Indian Prime Minister Narendra Modi (R1) attend the 2017 BRICS summit in Xiamen, east China's Fujian Province, September 4, 2017. /Xinhua Photo

With profound and complicated changes taking place in the world, cooperation among BRICS countries has become all the more important, Xi emphasized.

'Inclusive' and 'balanced' globalization

The Chinese president said BRICS countries should "remain committed to multilateralism" and "foster a peaceful and stable environment for the development of all countries."

In response to rising sentiments of anti-globalism and protectionism in recent years, Xi urged BRICS countries to support the multilateral trade regime and oppose protectionism.

Economic globalization should be "open, inclusive, balanced and beneficial to all," he added, underscoring the need to build an "open world economy."

He also called for an increase in the representation and voices of emerging markets and developing countries in global economic governance.

China promises more support to BRICS cooperation

Xi said China will set aside 500 million yuan (about 76 million US dollars) for economic and technological cooperation and exchange between BRICS countries.

The country will also contribute four million US dollars to the New Development Bank projects and support the business operations and long-term development of the bank, he added.

He made the announcement while highlighting the "broad space for cooperation" among BRICS countries.

In 2016, the total outbound investment of BRICS countries reached 197 billion US dollars, but only 5.7 percent of the amount was made among the five countries, Xi said, noting the need to fully tap the potential of BRICS cooperation and seek more practical results.

The five countries need to expand cooperation in trade, investment, currency, finance, connectivity, sustainable development, innovation and industry, while synergizing their development strategies, he said.

Population and GDP of BRICS countries. /CGTN Graphic

Institutionalization of cooperation

"Our practical cooperation has become more institutionalized and substantive and delivered more tangible results," Xi told the leaders of the five BRICS countries, citing the formulation of a series of action plans and the launch of the African regional center of the New Development Bank this year as examples.

On people-to-people exchanges, he said BRICS countries are staging joint art and film festivals, and suggested that these events should be in a regular and institutionalized manner.

According to the Chinese president, the Xiamen summit, themed "A Stronger Partnership for a Brighter Future," aims to usher in the "second gold decade" of BRICS cooperation.

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