BRIC-Think Tank Summit starts in Brasilia

08:20, April 15, 2010      

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The BRIC-Think Tank Summit started on Wednesday in the Brazilian capital Brasilia with a call for more cooperation among the participants of the group.

At the event's opening ceremony, representatives of the main research institutes of Brazil, Russia, India and China said that although trade among the four countries has improved significantly in the past few years, it can increase even more.

They said that the international financial crisis offered an opportunity for the BRIC countries to help build a more inclusive world, in which the needs of all countries are addressed. The representatives also stressed that the BRIC countries have managed to minimize the crisis' effects on their economies by applying stimulus plans.

"The proportion of BRIC economic aggregate in the global GDP increased from 13 percent in 2007 to 15 percent in 2009," said Li Yang, vice president of the Chinese Academy of Social Sciences. " What is most important is that the combined contribution of BRIC countries to the world economic growth exceeded 50 percent over the past five years."

Meanwhile, the representatives criticized the concentration of political, economic and military power in the hands of a few countries, and called for more participation of the BRIC members in the global governance organizations, in order to reflect the new multipolar reality of the world.

Secretary-general of Brazil's Ministry of Foreign Affairs Antonio Patriota also stressed that the BRIC countries won't ignore the needs of other countries in the world. He said that the BRIC countries will not repeat the mistakes of the past and will pay attention to the needs of the so-called "G172," or the countries that do not belong to the G20, as well.



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