Leaders of BRICS nations - Brazil, Russia, India, China and South Africa -- will meet on Friday in the western Indian state of Goa for their 8th summit with theme of "Building Responsive, Inclusive and Collective Solutions". [Special coverage]
The summit came on the heels of the leaders' meeting in Hangzhou, China last month, during which they exchanged views on deepening cooperation and the challenges the countries are facing.
FROM HANGZHOU TO GOA
An important aspect of the Goa summit will be the strengthening of the BRICSG20 relationship. Innovation and inclusiveness formed part of G20s agenda and will also be a focus of the BRICS summit, Geethanjali Nataraj, a research fellow from Brookings India, said in an article recently published.
The close BRICS-G20 link and the Goa summit will provide an opportunity to further enhance cooperation in global governance with a focus on innovative and sustainable development, he said.
Coming as a result of the multipolarization of the world, the cooperation mechanism of the BRICS nations provides new possibilities for the birth of new economic growth models and renovation of the global governance system.
Chinese President Xi Jinping pointed out the direction for enhancing the BRICS cooperation by puting forward four proposals at the leaders' Informal Meeting held last month in Hangzhou.
According to the Chinese president, BRICS nations can work together in four aspects, namely, jointly innovating in growth patterns, jointly improving global governance, jointly safeguarding international fairness and justice and building a peaceful and stable development environment, and jointly advancing international cooperation in development and follow the path of sustainable development.
With the world economy still lingering in slowdown and amid a backdrop of hard times for traditional economic sectors, innovation stands out as the remedy and breakthrough point, which has become a consensus among many countries.
China spearheading at the Hangzhou summit of the G20 Blueprint on Innovative Growth, which calls for speeding up innovation-driven development, is a reflection of such consensus.
The financial crisis also exposed the structural shortcomings of the old global governance system. As the major locomotive of recent world economic growth, the emerging economies and developing countries have increasing desire and justified reasons to enhance their representation and say in international organizations.
The BRICS nations, as important members of the G20, should continue to strengthen communication and cooperation within the G20 framework, actively promote the governance structure reform of the International Monetary Fund and the World Bank, and increase the representations and voice of emerging markets and developing countries.
Meanwhile, on the political front, the BRICS nations still have a lot to do in strengthening political security, facilitating the building of constructive and win-win international relations, and helping build a peaceful, stable, just and reasonable international order.
As leading emerging countries, the BRICS nations have also plenty to explore in such agenda as promoting South-South cooperation, propelling developing countries to honor their commitment and leading more other developing countries to the road of sustainable development.
At the Goa summit, there will also be a meeting between BRICS and the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC), an international organization comprising Bangladesh, India, Myanmar, Sri Lanka, Thailand, Bhutan and Nepal.
