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Concrete cooperation seen as key issue for future BRICS development: expert

(Xinhua)

07:56, March 28, 2012

NEW DELHI, March 27 (Xinhua) -- Cooperation among BRICS countries, which is still at early stage, should focus more on concrete projects in the future to better facilitate development of this young and energetic mechanism, said an expert here on Tuesday.

Since the establishment of the BRICS bloc, consisting of five major emerging countries of China, Brazil, Russia, India and South Africa, trading activities among the member countries have been surging, Li Zhongmin, a research fellow specializing in BRICS countries' research from the Chinese Academy of Social Sciences told Xinhua.

Li came to New Delhi as a member of the Chinese delegation for the upcoming fourth BRICS Summit on March 28-29, where leaders of the five nations will meet and exchange views on issues concerning economics, finance and development, as well as significant international issues of mutual concern.

Alongside skyrocketing export and import values, the number of visitors to and from the five countries was also on an uprising trend, Li said. Statistics showed visitors from India to China grew by an annual rate of 16.5 percent in the past ten years.

"After the Sanya Summit held last year, the ministerial officials of the BRICS countries have been communicating more closely. They are looking into cooperation opportunities in areas of commerce, foreign affairs, finance and the likes," Li said. "I think there will be a breakthrough in these areas in the foreseeable future."

On April 15, 2011, the third summit, chaired by Chinese President Hu Jintao, was held in the city of Sanya, China. It was also the first meeting of BRICS leaders after the accession of South Africa in December 2010.

Li also said the bloc can deepen their cooperation in financing for infrastructure construction, trade credit, mutual investment and so on. Li also suggested that member countries could consider about simplifying visa application procedures to further facilitate communications.

Talking about competition within the bloc, Li said since each of BRICS countries are in different needs, competition is quite normal. But he added that alongside competition, the five countries should work together, fully utilizing their advantages, and achieve common prosperity.

"BRICS countries should realize that it is important for each of them to take full use of this platform, voicing as an unity to get a bigger say in international affairs."

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