INDUSTRY NEWS
BRICS Cooperation Injects Strong Confidence In World Economic Development
At the critical moment of the development of the world economy and the evolution of the international pattern, the eleventh meeting of BRICS leaders was held in Brasilia, Brazil, from 13th to 14th. During the meeting, the leaders of the BRICS countries reaffirmed their firm stance on adhering to multilateralism, affirmed the results of mutually beneficial and pragmatic cooperation between the BRICS countries, and emphasized the common goal of building a peaceful, stable and prosperous world.
Entering the second "Golden Decade" of BRICS cooperation, the spirit of openness, inclusiveness and win-win cooperation will continue to lead the BRICS countries to cooperate in depth under the multilateral trading system.
In the "Brazil Declaration of the Eleventh Meeting of the BRICS Leaders" issued on the 14th, the BRICS countries reaffirmed their adherence to multilateralism and continued to work hard to promote the development of the multilateral system in a more inclusive, democratic and representative manner. Enhance the participation of emerging economies and developing countries in international affairs decision-making.
During the two-day meeting, multilateralism was repeatedly mentioned by all parties, and support and maintenance of multilateralism became the unanimous voice of the BRICS. Overseas experts generally believe that in the current unilateralist and protectionist challenges, the BRICS countries hold high the banner of multilateralism and pass a positive signal against protectionism, reflecting the responsibility and responsibility of the BRICS countries and injecting into the world economic development. Strong confidence.
The BRICS countries are important emerging forces in the world economy and the main engine of global growth in the past decade. Brazilian President Bossanoro said that the significance of the emerging economies' stability and vitality in the global economy for more than a decade has been self-evident.
The population of the BRICS countries accounts for more than 40% of the world's total population. In 2018, the five countries' total economic output accounted for 23.52% of the world's total economy, and the total trade volume accounted for 16.28% of the world's total. The representative of India and the co-chairman of the BRICS Business Council, Ankar Canwall, said that the economic cooperation between the BRICS countries is still expanding and there is still great potential.
Expanding trade cooperation among BRICS members is conducive to strengthening international trade. Jose Luis de la Cruz, director of the Mexican Institute for Industrial Development and Economic Growth, believes that BRICS cooperation is a "weight" against trade protectionism.
Mauricio Santoro, a professor at Rio de Janeiro State University in Brazil, believes that the BRICS countries play an important role in the global economy and will play an important role in the reform of the World Trade Organization and the World Bank in the future.
In the past decade, the BRICS countries have achieved remarkable results and won a good reputation worldwide. In the journey of creating the second "Golden Decade", the BRICS mechanism will help to compose a new chapter in BRICS cooperation, South-South cooperation, and mutually beneficial cooperation between countries around the world.
It can be seen from the declaration issued at this meeting that the BRICS mechanism is developing in a more perfect direction. At the same time, under the framework of this mechanism, cooperation in various fields is continuously deepening.
The BRICS Business Council cooperates in the fields of infrastructure, manufacturing, energy, agriculture, etc., and strives to promote trade and investment among members; the opening of the BRICS Regional Office of the New Development Bank will help the bank expand its business. Infrastructure and sustainable development finance play a greater role; the establishment of the BRICS Women’s Business Alliance helps to strengthen women’s role as a driver of economic growth; the establishment of the BRICS local currency bond fund has made progress...
Looking forward to the future, under the guidance of the spirit of openness, inclusiveness and win-win cooperation, the BRICS countries will jointly march forward into the next “Golden Decade”.
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