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Xi Jinping Attends Informal Meeting of BRICS Leaders, Stressing to Together Implement Outcome of Fortaleza Meeting and Increase Voice of BRICS Countries in Global Economic Governance
2014/11/15

On November 15 local time, the Informal Meeting of BRICS Leaders was held in Brisbane, which was attended by President Xi Jinping, President Dilma Rousseff of Brazil, President Vladimir Putin of Russia, Prime Minister Narendra Modi of India and President Jacob Zuma of South Africa. The five state leaders exchanged in-depth views on cooperation among BRICS countries and major international and regional issues, reaching a high degree of consensus.

Xi Jinping pointed out in his speech that economic cooperation serves as the long-lasting driving force for the development of BRICS countries. We should, on the basis of the spirit of openness, inclusiveness, cooperation and win-win results of the BRICS countries, continuously devote to drafting long-term blueprint for economic cooperation and forging a closer economic partnership by building the large integrated market, facilitating financial integration, improving infrastructure connectivity and forging great people-to-people and cultural exchanges. Establishing the BRICS Development Bank and the Contingent Reserve Arrangement, which is of great significance, should be put into place timely.

Xi Jinping stressed that cooperation among the BRICS countries should be driven by the two "wheels" of economy and politics so that the BRICS can act as not only the world's economic engine, but also a shield for world peace. The BRICS countries should deepen coordination and cooperation in international political and security field and safeguard international justice and fairness.

Xi Jinping noted that BRICS countries should actively participate in international multilateral cooperation and increase their voice in global economic governance. We should strengthen coordination and cooperation at the upcoming G20 Summit in Brisbane to push the Summit for positive results, devote to building an open world economy, implement the reform plan for the International Monetary Fund (IMF) and promote for the resolution of problems facing world development.

Xi Jinping briefed on the Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting held in Beijing. He said that several days ago, China host the 22nd APEC Economic Leaders' Meeting in Beijing. The participants agreed to build a future-oriented Asia-Pacific partnership and an open economic pattern featuring development and innovation, interlinked growth and interests integration and launch the process of the Free Trade Area of the Asia-Pacific (FTAAP), drafted a blueprint for connectivity, and reached consensus on economic innovative development, reform and growth. These results respond to the challenges facing the Asia-Pacific region, embody common expectation of all parties to Asia-Pacific cooperation and are of important significance to long-term development and prosperity in the Asia-Pacific region.

The state leaders present at the Meeting expressed that the current world economy has yet to achieve a robust and sustainable recovery. The emerging markets should strive to maintain growth and actively push forward global economic governance. Relevant developed countries should take a responsible monetary policy, prevent spillover effect, intensify investment and seek an endurable driving force for growth. The plan for IMF quota reform should be put into place as soon as possible. The BRICS countries should enhance all-round cooperation, well implement the outcome of the Fortaleza Meeting in Brazil, speed up relevant construction process of the BRICS Development Bank and the Contingent Reserve Arrangement, enhance communication and coordination, and ensure the success of the G20 Summit to be held in Brisbane, so as to safeguard common interests. The state leaders stressed to continuously enhance international cooperation and support the United Nations, the World Health Organization and others joining hands to address the Ebola epidemic.

Leaders of BRICS countries congratulated on China's successful hosting of the APEC Economic Leaders' Meeting, and appreciated the important role China has played in pushing economic integration in the Asia-Pacific region and economic development in the Asia-Pacific region and the world at large.

Wang Huning, Wang Yang, Li Zhanshu, Yang Jiechi and others were present.

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