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Published: 20:45, June 23, 2022 | Updated: 23:45, June 23, 2022
Xi emphasizes shared responsibility at BRICS Summit
By Cao Desheng
Published:20:45, June 23, 2022 Updated:23:45, June 23, 2022 By Cao Desheng

BRICS countries, as important emerging markets and major developing countries, need to act with a sense of responsibility to bring positive, stabilizing and constructive strength to the world, President Xi Jinping said on Thursday.

Xi made the remarks while chairing the 14th BRICS Summit via video link in Beijing. BRICS is a group of countries which includes Brazil, Russia, India, China and South Africa.

Facing formidable and complex circumstances, BRICS countries need to speak out for equity and justice and jointly encourage the international community to practice true multilateralism, Xi said

The summit, titled "Fostering High-quality Partnership and Ushering in a New Era of Global Development", comes as the world faces the continued spread of COVID-19, a tortuous world economic recovery and increasingly salient peace and security issues.

Facing formidable and complex circumstances, BRICS countries need to speak out for equity and justice and jointly encourage the international community to practice true multilateralism, Xi said.

He underlined the need to reject a Cold War mentality and bloc confrontation, oppose unilateral sanctions and abuse of sanctions and reject small circles built around hegemonism by forming one big family in a community with a shared future for mankind.

ALSO READ: Xi urges business leaders to boost BRICS cooperation

He called for enhancing international cooperation on COVID-19, pooling strength for economic recovery, stepping up macro policy coordination and keeping industrial and supply chains secure and unclogged.

While stressing the need to build an open world economy, Xi also emphasized the importance of forestalling and defusing major risks and challenges in global development and working for more inclusive and resilient economic growth.

"We need to advocate sustainable and people-centered development, invest more in poverty alleviation, food, education, health and so on, and promote the implementation of the UN's 2030 Agenda for Sustainable Development to bring stronger, greener and healthier global development," he said.

High-quality partnership

Xi called on BRICS countries to work together to foster a high-quality partnership and start a new journey of BRICS cooperation.

At this historical crossroads, BRICS shall not only look back at the journey behind and keep in mind why the BRICS mechanism was started, but also work together for a shared future, Xi said.

Safeguard world peace

Xi noted that the shadows of Cold War mentality and power politics linger on in today's world.

Certain countries, in attempts to expand military alliances to pursue absolute security, have coerced others to pick sides and created confrontation, Xi said, adding that they ignored other countries' rights and interests while seeking supremacy.

"The world will become even more volatile and unstable if we allow the dangerous trend to continue," Xi said.

ALSO READ: Full Text: President Xi's keynote speech at BRICS Business Forum

BRICS countries should support each other on issues concerning their respective core interests, practice true multilateralism, uphold justice, fairness and unity, and oppose hegemony, bullying and division, Xi said.

Xi said China is willing to work with BRICS members to promote the effective implementation of the Global Security Initiative to contribute to global stability.

Global Development Initiative

China is ready to work with BRICS partners to advance the Global Development Initiative for concrete outcomes and push for the UN 2030 Agenda for Sustainable Development to provide support for global development that is stronger, greener and healthier, Xi said.

Xi expressed support for the steady admission of new members to the New Development Bank, underscoring efforts to improve the mechanism of Contingent Reserve Arrangement so as to reinforce the financial safety net and firewall.

ALSO READ: Xi: China to work with BRICS to promote common development

He also stressed the need to advance BRICS cooperation in cross-border payment and credit rating, as well as further facilitation of trade, investment and financing.

Stay open, inclusive

BRICS countries do not form a closed club or an exclusive "clique." Rather, they are members of a family and partners for win-win cooperation, Xi said.

Over the past five years, the "BRICS Plus" approach has set a fine example for emerging markets and developing countries to advance South-South cooperation and gain strength through unity, Xi said.

Xi added that the expansion process of the BRICS cooperation mechanism should be pushed forward to allow like-minded partners to join the big BRICS family at an early date.

READ MORE: BRICS set to grow trade on improving relations

He highlighted progress in efforts to blaze a new path for synergizing the five countries' industrial policies this year, including the accelerated development of the BRICS Partnership on New Industrial Revolution Innovation Center launched in Xiamen of east China's Fujian province.

Moves have also been taken to build a talent pool to enhance cooperation on innovation and entrepreneurship, Xi added.

With Xinhua inputs

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