Foreign and Military Affairs

Hu urges bigger say for emerging economies

(Xinhua)
Updated: 2011-04-14 14:23

SANYA - Chinese President Hu Jintao said Thursday that reforming and improving the global economic governance and increasing the say and representation of emerging economies and developing nations would be conducive to world peace and common prosperity.

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Hu made the remarks while meeting the media with leaders of other BRICS countries after a meeting in China's southern beach side resort of Sanya.

"We (BRICS countries) decide to continue strengthening dialogue, coordination and cooperation on global economy, finance and development while deepening exchanges and cooperation in fields such as finance, think tank, industry and commerce, science and technology as well as agriculture," Hu said.

BRICS is an acronym for five fast-growing emerging economies - Brazil, Russia, India, China and South Africa. Combined gross domestic product of the nations accounted for 18 percent of the world's total in 2010.

Hu noted that the five nations agreed to further develop cooperation potentials on economy and trade, health-care and culture.

They also agreed to hold the next BRICS summit in India next year, he said.

Thursday's summit was chaired by President Hu and attended by Brazilian President Dilma Rousseff, Russian President Dmitry Medvedev, Indian Prime Minister Manmohan Singh and South African President Jacob Zuma.

Documents adopted at the summit indicated the leaders' consensus on major issues like global economy, finance and development and outlined the countries' future cooperation, he said.

Recognizing the BRICS countries' positive contribution in promoting global economic recovery, Hu said the countries would continue to push for a robust, sustainable and balanced growth in the world's economy.