Financial observation: the Light of BRICS illuminates multilateral Cooperation
Xinhua News Agency, Brasilia, November 15, by financial observation: the light of BRICS illuminates multilateral cooperation
Xinhua News Agency reporter Peng Hua Ni Ruijie
At a critical moment of world economic development and the evolution of the international pattern, BRICS leaders met in Brasilia, Brazil, from 13 to 14. During the meeting, BRICS leaders reiterated their firm position of upholding multilateralism, affirmed the achievements of mutually beneficial and pragmatic cooperation among BRICS countries, and stressed the common goal of building a peaceful, stable and prosperous world.
BRICS Spirit leads multilateral Cooperation
Entering the second "Golden decade" of BRICS cooperation, the BRICS spirit of openness, inclusiveness and win-win cooperation will still lead to in-depth cooperation among BRICS countries under the multilateral trading system.
In the Brasilia Declaration of the 11th BRICS Summit, issued on the 14th, the BRICS countries reaffirmed their adherence to multilateralism and continued their efforts to promote the multilateral system in a more inclusive, democratic and representative direction. Increase the participation of emerging economies and developing countries in decision-making in international affairs.
During the two-day meeting, multilateralism was mentioned many times by all parties, and the support and maintenance of multilateralism became the unanimous voice of the BRICS countries. Overseas experts generally believe that at a time when the challenges of unilateralism and protectionism are becoming increasingly serious, the BRICS countries hold high the banner of multilateralism and convey a positive signal against protectionism, reflecting the responsibility and responsibility of the BRICS countries. It has injected strong confidence into the development of the world economy.
Argentine international expert Gonzalo Toldini said that at present unilateralism continues to threaten international cooperation, BRICS countries to defend multilateralism is particularly meaningful. The BRICS countries have played a good exemplary role in international events by consultation between the parties concerned to ensure that the voices of the parties concerned are heard and that all parties work together to meet the challenges.
BRICS Power drives the World economy
The BRICS countries are an important emerging force in the world economy and the main engine of global growth in the past decade. Brazilian President Bosonaro said that more than a decade after the outbreak of the international financial crisis, the importance of emerging economies stabilizing and invigorating the global economy is self-evident.
The BRICS account for more than 40% of the world's total population, accounting for 23.52% of the world's total economy and 16.28% of the world's total trade in 2018. Ankarkanwal, representative of India and co-chair of the BRICS Business Council, said that economic cooperation among BRICS countries is still expanding and still has great potential.
Expanding trade cooperation among BRICS member countries is conducive to strengthening international trade exchanges. Jose Luis de la Cruz, director of the Mexican Institute for Industrial Development and Economic growth, believes that BRICS cooperation is a "weight" in the fight against trade protectionism.
Maurizio Santoro, a professor at the State University of Rio de Janeiro in Brazil, said 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.
Juan Carlos Baker, a Mexican economist and former deputy minister of economic affairs, said that if developing countries, represented by the BRICS countries, had the courage to speak out, they could play a leading role in reshaping the global trading system and achieve a new balance.
BRICS mechanism composes win-win prospects
Over the past decade, the BRICS countries have made remarkable achievements and won a good reputation around the world. In the journey of building the second "Golden decade", the BRICS mechanism will help write a new chapter in BRICS cooperation, South-South cooperation, and mutually beneficial cooperation among all countries in the world.
It can be seen from the declaration issued at the meeting that the BRICS mechanism is developing in a more perfect direction, and that multi-field cooperation is deepening under the framework of this mechanism.
The BRICS Business Council cooperates in the areas of infrastructure, manufacturing, energy and agriculture, and works to promote trade and investment among its members; The opening of the regional office of the BRICS New Development Bank will help the bank to expand its business and play a greater role in infrastructure and sustainable development financing. The establishment of the BRICS Women's Business Federation has helped to enhance the role of women as drivers of economic growth. Progress has been made in the establishment of the BRICS Local currency Bond Fund.
Looking to the future, under the guidance of the spirit of openness, inclusiveness and win-win cooperation, the BRICS countries will join hands to make great strides into the next "golden decade." (participating reporters: Pei Jianrong, Gong Ruohan, Zhao Yan, Wu Hao)