Xi urges closer BRICS-South American ties

Updated: 2014-07-17 09:58

By ZHANG FAN in Brasilia (China Daily Latin America)

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BRICS countries and South American countries should strengthen cooperation in all aspects and jointly promote development of the international order to a more just and equitable direction, said Chinese President Xi Jinping in the BRICS Leader-South America Dialogue Forum held in Brasilia on Wednesday.

Xi said as both BRICS and South American countries are developing countries and new emerging economies, the two groups should cooperate to strengthen global economic governance, promote the international society to pay more attention to developing issues and help the South American countries in poverty reduction and sustainable development.

Leaders of the BRICS countries and 11 South American countries participated in the forum and exchanged ideas about sustainable solutions for inclusive growth and agreed to advance ties between the two groups.

Xi stressed that China and South American countries enjoy a long history of interaction. The cooperation with the region is a key part of China's cooperation with developing countries, he said. China is willing to continue to serve as a good friend and partner with South American countries and promote toverall cooperation between China and Latin America together, he added.

Xi called for more active participation of South American countries in the economic cooperation with Asian-Pacific economies as China will host the informal meeting of APEC this year.

Dialogue between BRICS and South American countries is highly valued by all leaders who participated in the meeting. They agreed that cooperation between the two groups has great potential and they should advance practical cooperation and promote regional economic integration.

Leaders of the South American countries also welcomed the establishment of BRICS development bank, and said they hope it can provide financial support to the involved countries and enhance the ability to resist financial risks.

It was the second meeting of the BRICS members with regional countries; the first one was held in South Africa during the fifth BRICS summit last year.

Such meetings show that BRICS is trying to associate with regional groups and serve as a gateway of cooperation for local economies, and such attempt is welcomed by South American states, according to Joao Nogueira, former president of the BRICS Policy Centre in Brazil.

"It is also important for Brazil to reassure its regional partners that its membership in BRICS does not mean less engagement in the region,"said Nogueira.

Nogueira said South American countries' traditional trade partners are the United States and European countries, and a closer tie with BRICS countries, which are among the leading developing countries, can be a major opportunity for regional countries to explore alternative economic partners.

Nogueira's view was echoed by Severino Cabral, chairman of the Brazilian Institute for Chinese & Asia Pacific Studies. He said a close tie between BRICS countries and South American countries fits the current international trend and will help establish the new global order through political and economic cooperation.

"The newly established BRICS development bank will provide significant financial support for the infrastructure construction in South America, which will greatly stimulate the development of local economies,"he said.