All Eyes On Pm Narendra Modi And Xi Jinping At BRICS Summit

Posted September 03, 2017

"In the past 10 years, BRICS combined GDP has grown by 179%, trade by 94% & urban population by 28%", Xi said on Sunday underlining the growing clout of the bloc.

THE BRICS group of emerging economies must promote trade liberalization and an open world economy, Chinese President Xi Jinping said at a business meeting yesterday at the start of a summit in southeast China.

The MEA on Friday hinted that relevant global challenges including terror are on the table from the Indian side for the Summit. The Chinese president said he looked forward to working with other Brics leaders to ensure the Xiamen summit would deliver results that would inject fresh impetus into cooperation in the group, offer new solutions on improving global governance and make new contributions to world economic growth.

This time the BRICS summit is taking place on September 3 in Xiamen in China, which regards Pakistan as an "all-weather friend".

Interestingly, China's clarion call for "globalisation 2.0" under the aegis of its Belt and Road Initiative (BRI) has invited scepticism due to its undemocratic Communist credentials and the unilateral and hegemonic nature of its Silk Road revival blueprint.

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Of the 2016 figure of 1.46 billion Internet users in the BRICS nations - Brazil, Russia, India, China and South Africa - China accounted for 731 million and India 432 million. "There are certain developments in the world which are important to be addressed, and I'm sure, leaders in the BRICS meeting are bound to look at it, including the scourge of terrorism, which has been the most important subject for India", Secretary (East) in the Ministry of External Affairs Preeti Saran told ANI.

The guest countries are Thailand, Mexico, Guinea, Egypt and Tajikistan.

According to the VEB first deputy chairman, the bank has been seriously considering cooperation with India in the pharmaceutical field.

BRICS has grown into an important platform for cooperation among emerging markets and developing countries.

He added that Russian Federation shares the BRICS countries' concerns over the "unfairness of the global financial and economic architecture, which does not give due regard to the growing weight of the emerging economies".

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"[The meeting will allow us] to expand cooperation among countries, which are looking for new formulas for development, for cooperation, looking for new resources, financial, industrial knowledge and otherwise, that we can join together so as to find this common ground for better opportunities for our peoples", said Bernal Rodriguez in a recent interview with China Central Television.

"Pakistan is at the forefront of counterterror efforts and has made sacrifices for this".

He said the BRICS countries should work to usher in second golden decade.

In a commentary, China's state-run Xinhua news agency said these BRICS countries have shown no fear of the lacklustre world economy but demonstrated to the world what they can achieve more by staying united.

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