·President Hu made a 4-point proposal for tackling the financial crisis at BRIC summit.

·BRIC countries should try to take lead in recovering from the financial crisis, Hu said.

·BRIC countries shoul push forward the reform of international financial system.

     YEKATERINBURG, Russia, June 16 (Xinhua) -- Chinese President Hu Jintao Tuesday presented a four-point proposal for dealing with the ongoing global financial crisis at the first summit meeting of BRIC countries which groups Brazil, Russia, India and China.

    First, BRIC countries should commit themselves to bringing about an early recovery of the world economy, Hu said.

Chinese President Hu Jintao (2nd R) poses for a group photo together with Brazilian President Luiz Inacio Lula da Silva (1st L), Russian President Dmitry Medvedev (2nd L), and Indian Prime Minister Manmohan Singh during the first formal meeting of BRIC (Brazil, Russia, India and China) leaders in Yekaterinburg, Russia, on June 16, 2009. Photo Gallery>>>

    "We should work hard to overcome the difficulties and try to take the lead in recovering from the global financial crisis," he said, adding "This is not only for our own need, but also contributes to world economic recovery."

    BRIC countries should solve the long-existing structural problems in their economic development and change their development pattern in an effort to improve the quality and level of their economic development , while striving to resume world economic growth.

    He also urged BRIC countries to continue to open their markets, make use of their mutually complementary strength and expand economic and trade cooperation.

    "We should also firmly oppose protectionism, jointly safeguard the normal and orderly flow of commodities, services and personnel worldwide, and help ensure that the Doha round of global trade talks would achieve a comprehensive and balanced outcome as soon as possible," he added.

The first summit meeting of BRIC (Brazil, Russia, India and China) leaders is held in Yekaterinburg, Russia, on June 16, 2009. (Xinhua/Rao Aimin) Photo Gallery>>>

    Second, BRIC countries should commit themselves to pushing forward the reform of international financial system, Hu said.

    To establish a new international financial order that is fair, equitable, inclusive and well-managed, and provide guarantee for the sustainable development of the global economy in terms of system and mechanism conforms with the trend of the historical development and is in the fundamental interest of all parties, he said.

    BRIC countries should improve the international financial supervision mechanism and ensure the effective participation of the developing countries in world financial supervision organizations such as the Financial Stability Board, Hu said.

    Third, BRIC countries should commit themselves to implementing the UN Millennium Development Goals (MDGs), the president said.

    The international community should not overlook development issues and cut the input for development while dealing with global financial crisis, he said.

    Instead, it should pay close attention to the impact that the crisis has left on developing countries, especially the least developed ones, he added.

Chinese President Hu Jintao attends the first summit meeting of BRIC (Brazil, Russia, India and China) leaders in Yekaterinburg, Russia, on June 16, 2009. (Xinhua/Rao Aimin) Photo Gallery>>>

    The BRIC countries should call on all parties to continue to implement the MDGs and urge the developed economies to fulfil their commitment to assistance, he added.

    Fourth, BRIC countries should commit themselves to ensuring the security of food, energy resource, and public health, he added.

    He said while tackling the ongoing global financial crisis, efforts should be made to properly handle some outstanding problems that hinder development, such as climate change, food, energy, resource and public health security. A long-term approach and overall plan should be adopted to take all factors into consideration as these issues bear on the wellbeing of all peoples in the world and their overall interests, he added.

    He also urged BRIC countries to increase investment in agriculture, develop advanced agricultural technique and curb market speculation. He also called for greater food assistance and closer agricultural and food cooperation.

    "We should also accelerate our efforts in developing clean and renewable energy, and establish advanced research and promotion systems in a bid to diversity our energy supply," Hu said.

    He urged the four countries to strengthen information exchanges and communication, share the experience on epidemics preventions and control, and work together to develop and share vaccines, and cooperate in pandemic control and prevention.



Chinese president calls for closer cooperation, joint efforts to tackle financial crisis at BRIC summit

   YEKATERINBURG, Russia, June 16 (Xinhua) -- Chinese President Hu Jintao called for closer cooperation among BRIC countries and presented a proposal for dealing with the ongoing global financial crisis when he addressed the first BRIC summit here Tuesday.

    "We should seize the historic opportunity, strengthen unity and cooperation, and jointly safeguard the overall interests of developing countries, " Hu said, offering the following proposal for furthering cooperation among the BRIC countries, which groups Brazil, Russia, India and China. Full story

Add BRICs to building a harmonious world 

     YEKATERINBURG, Russia, June 16 (Xinhua) -- Leaders from the BRIC nations -- Brazil, Russia, India and China -- held their first official meeting on Tuesday, marking a crucial step by the emerging countries to seek broader consensus and a greater voice in addressing global issues.

    After the summit in Russia's Ural city of Yekaterinburg, the leaders put their hands firmly together, a move considered symbolic eight years after the term "BRIC" was coined. The four nations have eventually translated an economic concept into tangible dialogue and cooperation.Full story

First summit meeting of BRIC leaders begins in Yekaterinburg

    YEKATERINBURG, Russia, June 16 (Xinhua) -- The first summit meeting of BRIC (Brazil, Russia, India and China) leaders started in Russia's Ural city of Yekaterinburg on Tuesday.

    This was the first full-scale summit of BRIC leaders and the leaders would discuss the world economic situation, Russian President Dmitri Medvedev said at the opening of the meeting. Full story

Chinese president arrives in Moscow for state visit

     MOSCOW, June 16 (Xinhua) -- Chinese President Hu Jintao arrived in Moscow Tuesday night for a state visit aimed at enhancing the Sino-Russian strategic partnership of cooperation.

    The Chinese president flew into the Russian capital from Yekaterinburg, where he attended a summit of the Shanghai Cooperation Organization and a meeting of BRIC countries, namely Brazil, Russia, India and China. Full story