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Chinese delegation says BRICS summit a success

(Xinhua)

08:44, March 30, 2012

NEW DELHI, March 29 (Xinhua) -- Leaders of the five-nation BRICS bloc have reached important consensus in a just-concluded summit here, the Chinese delegation said Thursday.

"The summit is a success as it has again showcased the cooperative partnership among BRICS countries, delivered a positive message to the world that BRICS is a united grouping aimed at win-win cooperation, and the meeting has successfully advanced cooperation among member countries," said Chinese delegation spokesman Qin Gang.

He said the leaders of Brazil, Russia, India, China and South Africa have reached consensus in four aspects.

First, on global governance. The countries reaffirmed their support for the Group of 20 in strengthening international macroeconomic policy coordination and promoting world economic recovery and growth.

They also called for reforms of the international monetary and financial system and for increasing the voice and representation of emerging economies and developing countries. They see it an urgent need to speed up quota and governance reforms in the International Monetary Fund in order to build up a better institutional framework for world economic growth.

"This shows the efforts BRICS has made to boost confidence in world economic stability and recovery, and to add momentum to global economic governance," said Qin.

Second, on world development issues. All five countries in the bloc have pledged to facilitate the implementation of the UN Millennium Development Goals in the international community, work for a successful conclusion of the Doha Round of trade talks, help developing countries relieve poverty, safeguard energy and food security, and support the hosting of the U.N. Conference on Sustainable Development and the U.N. Conference on Biological Diversity by BRICS countries this year.

Leaders of the five countries also discussed the possible establishment of a new development bank to finance infrastructure projects and sustainable development programs in BRICS countries and other developing countries. They have asked finance ministers of member countries to study the possibility and set up a joint working group to conduct further research.

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