BRICS countries’ ministers hold meeting

April 13th, 2011 - 3:17 pm ICT by IANS  

Sanya (China), April 13 (IANS) Ministers from the five BRICS countries were gathered Wednesday in China’s Sanya city to discuss issues of common concern so as to deepen cooperation among the emerging economies.

BRICS is an acronym for Brazil, Russia, India, China and South Africa. BRICS summit is to take place Thursday.

BRICS ministers exchanged views on the global economic situation and each country’s macro-economic policies after the global financial crisis, Xinhua reported.

The meeting was attended by Chinese Minister of Commerce Chen Deming, Indian Minister of Commerce and Industry Anand Sharma, South African Minister of Trade and Industry Rob Davies, Brazilian Deputy Foreign Minister Carneiro Leao, and Russian Vice Minister of Economic Development Oleg Fomichev.

The ministers discussed how to safeguard the interests of developing nations in multilateral cooperation.

They agreed that the world economy was still recovering from the global financial crisis in 2008.

The ministers called on all countries to strengthen coordination in macro-economic policy-making so as to ensure further economic recovery and a robust, sustainable and balanced growth.

They agreed to deepen cooperation among member countries through expanding trade and investment and promised to oppose any kinds of trade protectionism.

The ministers reiterated their support for Russia’s entry into the World Trade Organisation in 2011.

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