China Attaches Great Importance to 4th BRICS Summit

Chinese President Hu Jintao, will attend the 4th summit of BRICS countries in the Indian capital on 28-29 March. 
He attaches great importance to the co-operation among BRICS countries, and China and India, Chinese Ambassador to India Zhang Yan said Tuesday.

In an interview with and other media, Zhang Yan said that during the Summit, the leaders of China, Brazil, Russia, India and South Africa will have in-depth discussions on Global economic management, sustainable development and cooperation among the five BRICS countries on the theme "Partnership for Stability, Security and Prosperity".

Zhang said that the Summit is held against the background of the continuous, deep and complicated changes of international situation, EuroZone debt crisis, the US financial problems and turbulences in West Asia and North Africa, as well as multiple uncertainties of World economic recovery.

According to Zhang, BRICS countries, as keeper and promoters of the interests of developing countries, are playing an increasingly important role in International affairs and their status is also on the rise in international arena.

Over the past few years, the BRICS countries have maintained stable and fast growth on the whole, and have  become an important driver for Global growth.

The 5 BRICS countries play an irreplaceable role in calling for the establishment of a more just, fair and reasonable International economic order, promoting World monetary system reform, realizing sustainable growth, upgrading the right of discourse of developing countries and safeguarding the justifiable rights of the vast developing countries, said the Chinese envoy.

BRICS countries account for 42% of world population and their GDP take up 20% of the World production, while their trade volume occupies 15% of Global trade volume and these countries are contributing to 50% of the current world growth rate.

Zhang said that over the past few years, BRICS countries have won world praise for their achievements in reducing poverty, improving living standard of their people and realizing inclusive growth.

These efforts by BRICS countries have not only benefited their own people, but also contributed greatly to maintaining world peace, promoting development and bringing about prosperity, he said.

Since BRICS countries issued Sanya Declaration of plan of action at their 3rd Summit in the southern Chinese island province of Hainan in Y 2011, they have had frequent co-operative interactions in the fields of economy and trade, financial and monetary sectors, industry, health and sanitation, agriculture, science and technology and humanity, therefore gradually converting the consensus reached by their leaders into concrete actions aimed at pushing forward their own development.

China regards this summit as a new opportunity for BRICS countries to reach consensus and deepen cooperation among BRICS countries, to deliver a message of confidence to world economy, provide dynamics to strengthen global economic management, and contribute more to the Global economic recovery, the Ambassador said.

He added that as a member of BRICS, China actively boosts co-operation among BRICS countries and is contributing to building the mechanism of cooperation. China has already achieved great outcomes from its cooperation with other BRICS countries, with its trade volume with four other BRICS countries attaining US$287-B and becoming the largest partner of the four BRICS countries.

The Ambassador pointed out that BRICS countries own vast markets and have strong economic supplements.

China will continue strengthening mutually beneficial cooperation with other BRICS countries, transforming natural resources, human resources and market resources into economic advantages, while realizing common development and prosperity among BRICS countries.