Brics Summit Underway in Xiamen, China

Brics Summit Underway in Xiamen, China

Brics Summit Underway in Xiamen, China

The BRICS forum is an important event for BRICS leaders to meet each year to exchange discussions on hot issues of common concern, to rally consensus and to develop policy statements.

The ninth summit meeting of the BRICS group of nations in Xiamen, China, on September 3-5 is an occasion to reflect on how far this unique institution of emerging economies has come, what its key contributions are, and where it is headed.

The MEA on Friday hinted that relevant global challenges including terror are on the table from the Indian side for the Summit.

Ahead of the summit, China has also said BRICS was not an appropriate forum for India to raise the counter-terrorism record of Pakistan, its "all-weather" ally.

Some have questioned the relevance of BRICS and China's commitment to its New Development Bank (NDB) in light of Xi's own global Belt and Road development initiative and the China-led Asian Infrastructure Investment Bank.

BRICS is an informal association of Brazil, Russia, India, China and South Africa.

Also invited by China to participate in the meeting are Tajikstan, Egypt, Kenya, Mexico and Thailand.

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The dispute, which had begun to threaten the success of the BRICS summit, was resolved on Monday.

Xi said as a cooperation platform with global influence, BRICS cooperation is more than about five countries.

The prime minister said he was looking forward to engage with leaders of nine other countries, including BRICS partners, in an Emerging Markets and Developing Countries Dialogue, being hosted by Chinese President Xi Jinping on September 5.

China prefers bilateral instruments to tackle territorial rows and contests because it enjoys a huge conventional military superiority over any single rival, be it India, Vietnam, the Philippines or Japan.

He added that Russian Federation shares the BRICS countries' concerns over the "unfairness of the global financial and economic architecture, which does not give due regard to the growing weight of the emerging economies". "We should get more emerging market and developing countries involved in our concerted endeavours for cooperation and mutual benefits", he said. BRICS countries have endeavoured to fulfil their global responsibility, and have staked out their positions on major regional and worldwide issues and made proposals for addressing them during the past decade, Xi said. New areas to work together will also be explored.

Meanwhile the Indian PM has added that India attaches high importance to the role of BRICS as it is bent on progress and peace.

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