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BRICS group should strengthen cooperation: official


09:20, December 05, 2012

BEIJING, Dec. 4 (Xinhua) -- The countries that form the BRICS group should deepen cooperation to cope with risks brought by global economic uncertainties, according to Chinese Vice Finance Minister Zhu Guangyao Tuesday.

Despite dynamic economic growth, uncertainties in fiscal, monetary and financial regulation policies of developed countries have brought severe challenges to developing nations, especially the BRICS group, Zhu said at the First Forum on Economic Situations of BRICS Countries.

He called on the bloc of emerging economies to keep vigilant against protectionism and enhance multilateral cooperation especially in infrastructure and trade finance sectors.

Zhu said the BRICS nations should have policies that are better coordinated to increase their representation and voice in global financial institutions, including the International Monetary Fund and the World Bank.

The BRICS group, which include Brazil, Russia, India, China and South Africa, have become an engine of global economic growth in recent years. Their gross domestic product accounts for nearly 20 percent of the world's total and contribute half of the growth in global economy.

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