Xi calls for BRICS cooperation, development to tackle challenges

Chinese President Xi Jinping on Thursday called on BRICS countries to stay committed to cooperation and development in joint response to risks and challenges.

Xi made the remarks at the 14th BRICS Summit via video link.

The combined impacts of the COVID-19 pandemic and the Ukraine crisis cast a shadow over the development of countries worldwide, with emerging market and developing countries bearing the brunt, said Xi.

He called on BRICS countries to make full use of new platforms to boost connectivity of their industrial and supply chains, and jointly address challenges in areas such as poverty reduction, agriculture, energy and logistics.

Xi expressed support for the steady admission of new members to the New Development Bank, underscoring efforts to improve the mechanism of Contingent Reserve Arrangement so as to reinforce the financial safety net and firewall.

He also stressed the need to advance BRICS cooperation in cross-border payment and credit rating, as well as further facilitation of trade, investment and financing.

China is ready to work with BRICS partners to advance the Global Development Initiative for concrete outcomes and provide support for global development that is stronger, greener and healthier, Xi said.