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Golden BRICS
  ·  2019-11-18  ·   Source: NO.47 NOVEMBER 21, 2019
The BRICS leaders pose for a photo at the 11th Summit of BRICS in Brasilia, Brazil, on November 14 (XINHUA)

In a speech at the 11th BRICS Summit in Brasilia, Brazil, on November 14, Chinese President Xi Jinping called on the emerging-market bloc, which groups Brazil, Russia, India, China and South Africa, to undertake obligations in championing and practicing multilateralism. The following is an edited excerpt of Xinhua News Agency reports on the event:

Noting that the summit was held at a time when crucial developments are taking place in the world economy and international landscape, Xi pointed out that a new round of technological revolution and industrial transformation is in the ascendant, and the unstoppable rise of emerging markets and developing countries has injected strong impetus into the reform of the global economic governance system.

Nevertheless, there are also causes for concern, Xi said, referring to rising protectionism and unilateralism; greater deficit of governance, development and trust; and growing uncertainties and destabilizing factors in the world economy.

Faced with profound changes rarely seen in a century, Xi said, the BRICS countries should grasp the trend of the times, respond to the call of the people, and shoulder their responsibilities.

"We must remain true to our unwavering commitment to development and strengthen solidarity and cooperation for the well-being of our people and for the development of our world," he said, before laying out a three-pronged proposal.

First, the BRICS countries should work to foster a security environment of peace and stability, he said, urging the five members to safeguard peace and development for all, uphold fairness and justice, and promote win-win results.

"It is important that we uphold the purposes and principles of the UN Charter and the UN-centered international system, oppose hegemonism and power politics, and take a constructive part in settling geopolitical flashpoints," he said.

The BRICS countries should also maintain close strategic communication and coordination and speak in one voice for a more just and equitable international order, he added.

Second, the BRICS countries should pursue greater development prospects through openness and innovation, said the Chinese president.

The five-member bloc should deepen the BRICS Partnership on New Industrial Revolution, and strive for more productive cooperation in fields such as trade and investment, digital economy and connectivity, so as to achieve high-quality development, Xi said.

He called for the five countries to advocate extensive consultation, joint contribution and shared benefits in global governance, and push for reform of the global economic governance system.

The BRICS countries should stand firm against protectionism, uphold the WTO-centered multilateral trading system, and increase the voice and influence of emerging markets and developing countries in international affairs, Xi said.

The Chinese president also urged the BRICS member states to prioritize development in the global macro policy framework, follow through the UN 2030 Agenda for Sustainable Development and the Paris Agreement on climate change, and promote coordinated progress in the economic, social and environmental spheres.

Third, the BRICS countries should promote mutual learning through people-to-people exchanges and take their people-to-people exchanges to greater breadth and depth, said Xi.

Xi proposed to leverage BRICS Plus cooperation as a platform to increase dialogue with other countries and civilizations to win BRICS more friends and partners.

A panel discussion at the BRICS Forum on People-to-People and Cultural Exchanges in Brasilia on November 13 (XINHUA)

In his speech, the president also stressed that China will open up still wider. "We will import more goods and services, ease market access for foreign investments, and step up intellectual property protection. With these efforts, we will break new ground in pursuing all-dimensional, multi-tiered and all-sectoral opening up in China," he said.

China will continue to act in the principle of extensive consultation, joint contribution and shared benefits, and pursue open, green and clean cooperation within the framework of the Belt and Road Initiative, Xi said.

"We will continue to follow a high-standard, people-centered, and sustainable approach to promote high-quality Belt and Road cooperation with partner countries," he said.

China, added the president, will stay committed to an independent foreign policy of peace and to the path of peaceful development, and continue to enhance friendship and cooperation with all other countries on the basis of the Five Principles of Peaceful Coexistence.

China is committed to working with Africa for an even stronger China-Africa community with a shared future, Xi said, adding that China will pursue closer cooperation with Latin America and the Caribbean (LAC) in various areas and build a China-LAC community with a shared future and common progress.

Meanwhile, China strives for an Asia-Pacific community with a shared future that features openness and inclusiveness, innovation-driven growth, greater connectivity, and mutually beneficial cooperation, Xi said.

"All in all, China will work with the rest of the international community toward the goal of building a new type of international relationship and of building a community with a shared future for humanity," he said.

At a BRICS business forum on November 13, Xi called on the business circles to participate in and promote BRICS economic cooperation so as to make tangible contributions to economic growth and job creation.

"When businesses have confidence, the market will enjoy vitality," Xi told the audience.

As economic globalization faces headwinds, the business community should help the government better understand the industry and the market's demands, and improve its decision-making capacity by identifying difficulties and pressure points that hinder trade and investment between countries and providing suggestions for feasible solutions, Xi said.

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