BRICS PartNIR Innovation Center signs MoU with BRICS bank

XIAMEN, June 14 (Xinhua) -- The BRICS Partnership on New Industrial Revolution (PartNIR) Innovation Center signed a memorandum of understanding (MoU) on Tuesday with the BRICS New Development Bank (NDB) to facilitate bilateral cooperation and promote the common development of BRICS countries.

BRICS is the acronym for an emerging-market bloc that groups Brazil, Russia, India, China and South Africa. It is home to over 40 percent of the world's population and about a quarter of the global economy.

The MoU was signed at a meeting held via video link in the port city of Xiamen, east China's Fujian Province. Huang Wenhui, executive vice chairman of the BRICS PartNIR Innovation Center council, and Marcos Troyjo, president of the NDB, signed the MoU on behalf of the two sides.

According to the MoU, the two sides will give priority to cooperation in such fields as artificial intelligence, the industrial internet, energy conservation and environmental protection through joint research, personnel training and information sharing on infrastructure and sustainable programs.

Troyjo said that, besides the NDB, the BRICS PartNIR Innovation Center is another concrete mechanism to foster cooperation between BRICS countries. They both aim to promote the sustainable development agenda, including the delivery of the Sustainable Development Goals, in BRICS as well as other emerging markets and developing countries.

"There are lots of potentials for us to collaborate in the areas of information sharing on projects, people training as well as joint research," said the president.

The BRICS PartNIR Innovation Center was launched in Xiamen in December 2020. Headquartered in Shanghai, the NDB was established by BRICS nations. The bank formally opened in July 2015.