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Brazil expects more coordination with other BRIC countries
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19:58, June 09, 2009

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Brazil said on Monday it hopes for more political, economic and commercial coordination with Russia, India and China, the three other BRIC countries.

Many expect BRIC to become the engine of the world economy in coming years.

The presidents of the four countries will hold a summit on June 16 in the Russian city of Yekaterinburg to map out a strategy for long-term dialogue and an agreement mechanism.

Brazilia's undersecretary general of political affairs responsible for BRIC issues, at the Foreign Ministry, Roberto Jaguaribe, told Xinhua on Monday that the summit at Yekaterinburg will not have a defined agenda, but topics to be discussed will be related to financial and economic issues.

Jaguaribe said it was evident the hot topics currently were those concerning the global financial crisis, while the proposal made by China's central bank on an alternative international currency was also an important issue to be discussed.

Jaguaribe said Brazil has never abandoned the prospect of gaining satisfactory results from the Doha round talks, and has insisted on the need for more regulation of the financial markets.

Jaguaribe said the final declaration of the summit possibly would be something general, but it would deal with the most important economic and financial issues.

The fundamental element is to start an integration mechanism among BRIC, which would eventuate in a timetable for future coordination, Jaguaribe said.

Source: Xinhua

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