The host Chinese President Xi Jinping told other member nations that there is utmost importance for closer ties between BRICS members and said five countries need to play a more active role in world governance. "Without us, ... many challenges cannot be effectively resolved," media reports said quoting Chinese president. On the occasion, Chinese President also said that his country will soon unveil a economic cooperation plan for the BRICS countries. The BRICS summit come close on the heels after India and China decided on "expeditious disengagement" of their border troops in the disputed Doklam. The session began with a warm handshake between Prime Minister Modi and Chinese president Xi Jinping. The five leaders also joined hands among each other and posed for photographs. Russian President Vladimir Putin, Brazilian President Michel Temer, and South African President Jacob Zuma are also participating in the meet. PM Modi was the third leader to reach the convention centre, venue of the 9th BRICS Summit in this port city of China.
BRICS was formed as an association of fast-growing large economies to advocate for better representation for developing countries and seeks to end the monopoly of the Western-dominated world order. In his address, PM Modi said trade and economy were the foundations of the cooperation among BRICS. He called for the creation of a BRICS rating agency to cater to financing needs of sovereign and corporate entities of developing countries. BRICS as a bloc has developed a robust framework for cooperation and contributed to the stability in a world “drifting towards uncertainty,” he said.
PM Modi said that central banks of BRICS countries must further strengthen their capabilities and promote co-operation between the Contingent Reserve Arrangement and the International Monetary Fund. Prime Minister said the women’s empowerment programmes are productivity multipliers that mainstream women in nation building and said the cooperation amongst BRICS touch diverse areas of agriculture, culture, environment, energy and sports. "We are in mission-mode to eradicate poverty; to ensure health, sanitation, skills, food security, gender equality, energy and education," he said. (UNI)