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BRICS Leaders to Push for Bloc's Interests at G20
Working on common agenda on economic growth, trade during G20
By Sudeshna Sarkar | Web Exclusive


Chinese President Xi Jinping (central), Indian Prime Minister Narendra Modi (second left), South African President Jacob Zuma (first right), Brazilian President Michel Temer (first left) and Russian President Vladimir Putin attend a BRICS leaders' meeting on the sidelines of a summit of the G20 major economies in Hangzhou, capital city of east China's Zhejiang Province, on September 4 (XINHUA)

As the leaders of Brazil, Russia, India, China and South Africa (BRICS) held an informal meeting on the sidelines of the G20 Summit in Hangzhou, the consensus was to pursue issues of global and mutual interest to BRICS member countries at the G20.

With global economic recovery remaining uneven, the economy was a major agenda at the meet on September 4.

The five will also focus on the implementation of their respective national growth strategies with innovation as a key driver for mid- and long-term growth, which jells with the G20 Blueprint on Innovative Growth.

BRICS will support the WTO as the cornerstone of inclusive multilateral trade and seek to combat rising protectionism. Their thrust is on an inclusive and open world economy where markets are interlinked.

They will urge the G20 to lobby with the IMF to have the latter increase its quota resources and review the distribution of quotas and votes.

They also agreed on greater dialogue and cooperation with other emerging economies and developing countries.

Corruption, illegal cross-border passage of money and illegal money hoarded abroad remained a major concern. The leaders have called for greater cooperation and effective anti-corruption measures among G20 economies.

The five-member bloc will meet again in Goa in India on October 15-16 for the BRICS Summit where their chairmanship will be assumed by India.

(Reporting from Hangzhou)

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