The 5th BRICS summit is to be held in Durban,South Africa next week. The leaders of China and India will meet again on the sidelines of the summit. It is undoubtedly a good opportunity for the two BRICS members to enhance mutual trust and promote cooperation through high-level interactions.
As the two biggest developing countries and emerging economies,relations between China and India have exceeded the bilateral spectrum and assumed global and strategic dimensions. The BRICS mechanism not only serves as a platform for the China-India relationship to raise its global impact,but also helps advance bilateral ties. The leaders of China and India have maintained close contact within the BRICS mechanism. Last March,Chinese President Hu Jintao and Indian Prime Minister Manmohan Singh met each other during the 4th BRICS summit. Meanwhile,senior representatives on security affairs,foreign ministers,finance ministers,governors of the central banks of the two countries also met and exchanged views on political,security,economic and trade cooperation under the BRICS framework. We have every reason to believe that closer personal connection will be forged through the meeting between the newly elected Chinese president and the Indian leader in Durban,which would significantly contribute to the mutual trust and bilateral relations between China and India.
Recent years have witnessed the ever-growing national strength of the BRICS countries. The BRICS countries increasingly speak with one voice on international affairs,enjoy higher international standing and make their presence felt in a larger way globally. Now,the five BRICS countries account for 42 per cent of the global population,make up more than 20 per cent of the world GDP and contribute more than half of the worlds economic growth. It is also noteworthy that the larger share the BRICS have in the world economy,the more important cooperation among the BRICS members will become. Currently,the BRICS countries are the worlds largest market. Each has its own competitive edge in different areas. Some are blessed with abundant natural resources,while others are taking leading roles in manufacturing,IT,biotechnology,telecommunications and aerospace. Among the five BRICS members,China and India are especially complementary in their economies. In this sense,the two should fully tap the huge potentials and deepen substantial cooperation in various fields so as to bring more tangible benefits to the two peoples.
The BRICS countries also play a positive role in addressing issues such as food and energy security,environmental protection and reforms in the global trade system and financial governance. The leaders of the BRICS countries exchange views on important topics relating to sustainable development and discuss possible cooperation areas. Working groups are established and action plans are made on future agricultural cooperation. They have also been working together to tackle climate change and other issues to safeguard the interests of the emerging economies and developing countries. Apart from seeking a larger say in the International Monetary Fund,World Bank and other international financial institutions,the BRICS countries are actively pushing for the establishment of new financial institutions of their own. In this regard,China,with the worlds largest foreign exchange reserves and India,with a long history of financial services development,have plenty of opportunities for close cooperation and great accomplishment. We believe that closer cooperation within the BRICS in international finance will help put in place a more equitable and fair international economic and financial order. We believe that a strong manufacturing sector and large foreign-trade volumes still fall short of what we need. A greater say in international financial governance better serves our interests. To this end,deeper mutual trust and closer cooperation within the BRICS are needed.
China and India are faced with similar historical tasks and challenges to develop the economy and improve peoples livelihood. Since last year,China and India have been conscientiously implementing the Delhi Declaration,which was agreed upon by the 4th BRICS Summit in India. As a result,we have yielded fruitful results in cooperation in economy,finance,trade,culture and people-to-people exchanges between the two countries. The meeting to be held between the newly elected Chinese President Xi Jinping and Indian PM Manmohan Singh in the coming BRICS summit would surely further strengthen political mutual trust and deepen the China-India strategic cooperative partnership.
Last but not least,I sincerely wish the 5th BRICS summit great success. China will join hands with India to safeguard the fundamental interests of developing countries,promote solidarity and cooperation among the BRICS countries,and make unremitting efforts for world peace and prosperity.
The writer is Chinese ambassador to India
