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Greater role for BRICS

China Daily | Updated: 2013-03-28 07:16

The fifth summit of the BRICS countries, which concluded in Durban, South Africa on Wednesday, has sent positive signals of solidarity, partnership and win-win cooperation. With their pledge to enhance cooperation and coordination in such fields as international politics, economy, finance, trade and development, the group is poised to play a bigger role on the world stage, which should be interpreted as a good trend.

Among the many initiatives that were approved by leaders of the BRICS countries - Brazil, Russia, India, China and South Africa - at the end of the summit, the creation of a development bank, the founding of a foreign reserve pool and the establishment of a business council are eye-catching. These are not just instrumental to the bloc's healthy growth, they are also good news for the rest of the world.

President Xi Jinping elaborated China's position on further cementing its partnerships with the other BRICS countries during the summit, and exchanged views with other BRICS leaders on issues of mutual concern.

As an active participant in BRICS' cooperation, China has played a constructive role in the bloc and is willing to see it make more contributions to improving global economic governance, promoting the democratization of international relations and gearing up world economic development.

Since its first summit in 2009, the group's influence has gone beyond the economic sphere. Amid profound changes in geopolitical landscape and rising uncertainties in the global economy, the bloc is increasingly looked upon as an important force safeguarding the interests of the developing world.

But both the trend of the times and the rising economic clout of the group indicate it is time for the bloc to rise above its role as representative of emerging economies and play a larger part in regional and international arenas.

Given the accusations and criticism that have emerged over the group's intention to enhance cooperation with other regional partners, the rest of the world, Western countries in particular, need to view the rise of emerging economies on the world stage through the prism of rationality. Concerns and suspicions are unnecessary and bad-mouthing the group will only squander the opportunity for positive interaction with groupings of emerging economies like the BRICS.

(China Daily 03/28/2013 page8)

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