The BRICS mechanism under China's chairmanship this year has entered the second golden decade following 10 years of prosperity, Russian Deputy Foreign Minister Sergei Ryabkov has said.
More than a decade after its establishment, BRICS, grouping five major developing countries from four continents, is recognized by international experts as an irreplaceable force in global governance. Thanks to close cooperation and coordination between Brazil, Russia, India, China and South Africa, BRICS has achieved fruitful results that not only benefit the five member countries, but also contribute to safeguarding the interests of developing countries as a whole and improving the global governance system, according to experts.
BRICS, which boasts 23 percent of the world’s economy and 50 percent of the contribution to global growth, should look within itself to tap the full potential of intra-BRICS trade, urged Chinese experts. “The potential has yet to be fully tapped.
The expansion of BRICS into “BRICS Plus” is necessary to make the organization a model platform for South-South cooperation, Chinese experts argued at a seminar on Monday. Addressing the seminar, which was held in Beijing ahead of the 9th BRICS Summit to be held from Sept.
