Building the BRICS: Xi: BRICS economy not fading away

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This year's BRICS Business Forum has opened, providing opportunities for greater economic collaboration between the five emerging economies. President Xi Jinping delivered a keynote speech at the opening ceremony, reviewing progress made by the BRICS nations and looking to the future. Our reporter Han Peng has more.

The largest ever gathering in BRICS history. More than 1,200 business representatives from 25 countries are at this year's BRICS Business Forum in the southeastern Chinese city of Xiamen. President Xi Jinping gave a keynote address, reviewing the achievements of the past decade.

XI JINPING CHINESE PRESIDENT We 5 nations come together with the same wish in pursuing peace and development, and have become the new highlight of the global economy during the past 10 years. In the 10 years, the 5 countries' GDP has grown 179 per cent, with a 94 percent increase in the total trade volume, which has made extraordinary contributions to the stabilization and revival of the world economy.

President Xi says the BRICS cooperation has become a positive energy for the international community.

HAN PENG XIAMEN Opposition against trade protectionism, this comes as some people question that BRICS is losing its influence.

XI JINPING CHINESE PRESIDENT Seeing ups and downs in its growth, some made the judgement that the BRICS economy is fading. Of course, due to the complexity of both the internal and external environment, the development of the BRICS countries is facing different pressures, but the trend and potentials of moving forward remain unchanged. We are fully confident of this.

On the following day, representatives will discuss issues such as facilitating trade and investment, and strengthening BRICS financial cooperation and development.

Topics also include enhancing connectivity, as well as cooperation in the maritime sector, from transportation, to energy cultivation and ship-building. Han Peng, CGTN Xiamen.