Closer S. America relations will add gold bricks to foundation of BRICS

Updated: 2014-07-18 07:48

By Zhang Fan in Brasilia (China Daily)

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Closer S. America relations will add gold bricks to foundation of BRICS
President Xi Jinping pays a visit to an exhibition marking the 40th anniversary of diplomatic relations between China and Brazil in the Brazilian capital of Brasilia on Wednesday. Lan Hongguang / Xinhua

BRICS and South American nations should strengthen cooperation in all endeavors and jointly promote development of the international order in a more just and equitable direction, President Xi Jinping said.

Xi made the comments at the BRICS Leaders-South America Dialogue Forum, held in Brasilia on Wednesday.

Xi said that as both BRICS and South America comprise developing countries and emerging economies, the two groups should cooperate to strengthen global economic governance, promote issues related to developing nations, and help South American countries reduce poverty and achieve sustainable development.

Leaders from BRICS and 11 South American countries participated in the forum. They exchanged ideas on sustainable ways to achieve growth and agreed to advance ties between the two groups.

Xi said that China and South American countries enjoy a long history of cooperation. China is willing to continue to serve as a good friend and partner of South American countries and promote cooperation between China and Latin America, he added.

Xi also called for more active participation of South American countries in economic cooperation with Asia-Pacific economies.

Leaders at the meeting agreed that cooperation between the two groups has great potential.

Leaders of the South American countries also welcomed the establishment of the BRICS development bank, and said they hope it can provide financial support to the participating countries and make it easier for them to avoid financial risks.

It was the second meeting that BRICS members have had with regional countries; the first was 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 attempts are welcomed by South American states, said Joao Nogueira, former president of the BRICS Policy Center 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," Nogueira said.

Nogueira said South American countries' traditional trade partners are the United States and European countries, but establishing closer ties with BRICS countries is 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 close ties between BRICS and South American countries fits the current international trend and will help establish the new global order through political and economic cooperation.

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