BEIJING, March 30 (Xinhuanet) -- Leaders of the five BRICS countries, Brazil, Russia, India, China and South Africa, have issued a declaration on a broad range of international issues including stability, security and prosperity. The declaration was issued after the close of their summit in New Delhi. Global governance and sustainable development were on the agenda, as well as coordinating their stands on major world and regional issues.
The BRICS summit comes at a crucial moment for the bloc. The global economic recovery is still struggling against a fragile international financial system, high public and private debt, high unemployment and rising oil prices. Also posing challenges are climate change, food and energy security.
The declaration highlights the roles of the International Monetary Fund and the World Bank and the Doha Round of trade talks. There's also the possibility of establishing a new development bank for emerging economies and developing countries. And it addresses the situation in the Middle East and North Africa, particularly Syria and Iran, the situation in Afghanistan, efforts to fight terrorism, and energy challenges.
President Hu Jintao called on BRICS members to seek ways to promote the group's cooperation to a new level, saying cooperation among them now "stands at a new starting point."
The Chinese president put forward a four-point proposal on BRICS cooperation. He said the five countries should jointly develop their economies, further enhance political trust and expand cooperation within the bloc, as well as strengthen relations with other countries for the common development of the whole world.
Hu Jintao said he was convinced that with further improvement of its mechanism, BRICS cooperation will produce more fruitful results.
President Hu also said China has made well-recognized achievements in development since the adoption of the policy of reform and opening up more than 30 years ago.
He added no matter how the international situation may evolve, China will always hold high the banner of peace, development and cooperation and remain committed to the path of peaceful development and the win-win strategy of opening-up.
The group initially grouped Brazil, Russia, India and China, but was enlarged last year to include South Africa and was renamed BRICS.
With roughly 42 percent of the world's population, BRICS had a combined nominal GDP of 13.6 trillion U.S. dollars in 2011, or 20 percent of the world's total.
The bloc also aims to expand their inter-trade from 230 billion dollars last year to 500 billion dollars by 2015.
(Source: CNTV.cn)
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