South Africa's accession to BRIC good for emerging economies: China

21:05, December 28, 2010      

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China on Tuesday said South Africa's accession to the BRIC, which currently includes Brazil, Russia, India and China, will boost cooperation between emerging economies.

"We believe that South Africa's accession will promote the development of the BRIC and enhance cooperation between emerging economies," Chinese Foreign Ministry spokesperson Jiang Yu told a regular briefing on Tuesday.

Jiang's comments came as the BRIC countries accepted South Africa as a full member of the group last week. China now holds the rotating chairmanship of the group.

Chinese President Hu Jintao had issued an invitation letter to South African President Jacob Zuma, inviting him to attend the third BRIC leaders' meeting to be held in Beijing next year, Jiang said.

She said cooperation among BRIC countries was stable, mutually beneficial, open and transparent.

BRIC is a term coined by Goldman Sachs economist Jim O'Neill in 2001 to describe the growing influence of large emerging economies.

Source: Xinhua
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