Beijing—Chinese President Xi Jinping has urged the BRICS (Brazil, Russia, India, China and South Africa) countries to cement confidence as a “complicated, severe external environment” poses challenges to the emerging-market bloc.
Speaking at an annual BRICS summit in the western Indian state of Goa, Xi called for building up an open economy while warning against all forms of protectionism.
He asked the BRICS countries to implement the outcomes of the 11th summit of the Group of 20 (G20) major economies held in the eastern Chinese city of Hangzhou in September, and to strive for a strong, sustainable, balanced and inclusive global growth. The Chinese leader also made a five-point proposal for the BRICS nations to join hands in tough times, including building an open world, mapping out a shared development vision, coping with the most pressing global challenges, safeguarding fairness and justice in the international community, and deepening partnerships within the bloc.
“We should contribute the wisdom and strength of the BRICS countries and jointly seek ways to respond to challenges,” Xi said. To address economic challenges, Xi proposed that the BRICS countries advance structural reforms, innovate growth patterns, and build up an open economy. He warned against protectionism, saying the BRICS countries should take the lead in opening-up and international cooperation by prioritizing such sectors as economy and trade, financial circulation, infrastructure connectivity and people-to-people exchanges. The president called for enhancing the representation and voice of emerging-market economies and developing countries in the process of global governance reforms, thus helping build new-type international relations of cooperation and mutual benefits as well as safeguarding fairness and justice.
The Chinese leader urged the five countries to strengthen coordination and communication in major international issues and regional hot issues, in a bid to jointly tackle global challenges such as natural disasters, climate change, infectious diseases and terrorism. Xi asked the BRICS member countries to enhance cooperation and deepen their partnerships to seek common development, especially through the BRICS New Development Bank (NDB) and the Contingent Reserve Arrangement (CRA) that were established in 2014. “China is a staunch supporter and participant of the BRICS mechanism, and takes the BRICS cooperation as one of its diplomatic priorities,” he said. “We believe the BRICS cooperation will forcefully promote world peace, stability and prosperity.”
As this year marks the 10th anniversary of the BRICS cooperation mechanism, Xi reviewed the development of the bloc over the past decade, saying the BRICS cooperation platform has grown into an international mechanism of major influence and has actively pushed forward the global economic governance reforms.
The five BRICS countries contributed to more than half of the global growth in the last 10 years, he noted. Also Sunday, Xi announced that China will hold the rotating chair of BRICS next year and host its ninth summit in the southeastern Chinese city of Xiamen in September.
China expects to work with all parties concerned to implement the consensuses reached at previous summits, deepen their partnerships, and write a new chapter for the BRICS cooperation, Xi said. Xiamen, a tourist resort on the southeast coast of China, is known for its mild climate and beautiful scenery. Xi served as vice mayor of Xiamen in the 1980s. Leaders of the five countries discussed BRICS cooperation and other issues of common concern at the Oct. 15-16 summit, themed with “Building Responsive, Inclusive and Collective Solutions.” At the summit, Indian Prime Minister Narendra Modi called on the five nations to play a bigger role within major multilateral frameworks including the G20 and the World Trade Organization.