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The Meeting of BRIC Leaders Is Held in Yekaterinburg and President Hu Jintao Attends the Meeting and Delivers an Important Speech


On June 16, 2009, the meeting of BRIC (Brazil, Russia, India and China) leaders was held in Yekaterinburg, Russia. Chinese President Hu Jintao, Russian President Dmitri Medvedev, Brazilian President Luiz Inacio Lula da Silva and Indian Prime Minister Manmohan Singh attended the meeting. President Hu delivered an important speech at the meeting.

This is the first formal meeting of "BRIC" leaders. The meeting was held in Sevastyanov's House.

At about 18:30 local time, the meeting was started. Russian President Medvedev presided over the meeting. The leaders exchanged views on a number of key issues such as the response to the international financial crisis, G-20 summits, the reform of international financial institutions, food security, energy security, climate change, and future development of "BRIC" dialogue.

President Hu delivered an important speech at the meeting. He pointed out that in the current situation the four countries are facing new development opportunities as well as unprecedented challenges. “We should seize the historic opportunity to strengthen unity and cooperation and jointly safeguard the overall interests of developing countries.”

First, to strengthen political trust in each other. Our four countries are emerging countries with great influence in global affairs and are important forces for the maintenance of regional and international peace and stability. We should make full use of existing mechanisms, deepen political trust in each other through dialogues and exchanges, and become a model of mutual respect and equal consultation in the world.

Second, to deepen economic cooperation. Our four countries have respective advantages in terms of resources, markets, labor, science and technology and we are highly complementary to each other. We should step up economic cooperation, enrich connotations of cooperation, broaden areas of cooperation, explore innovative ways of cooperation, and enhance the effectiveness of cooperation.

Third, to promote people-to-people and cultural exchanges. We all have a long history and rich cultural heritage. We also have a long history of friendship between the people. We should actively develop exchanges and cooperation in culture, education, health, tourism, sports and other areas, promote mutual understanding between the people, and encourage different communities to become good friends and good partners so as to lay a solid social foundation for the deepening of all-round cooperation.

Fourth, to advocate mutual learning. Our four countries have discovered development paths suited to our own national conditions. This is the common wealth of human society. We should respect development paths chosen by different countries, exchange experiences relating to development and learn from each other’s development mode, and share experiences with other developing countries on a voluntary basis.

Hu stressed that the world economy is experiencing a rare challenge. Actively responding to international financial crisis and promoting the early recovery of world economy is a major topic before us and other countries in the world. To this end, we propose our efforts be placed in the following areas:

- Committed to promoting the early recovery of world economy. We must strive to overcome difficulties and take lead in the recovery from the international financial crisis. We have to, in the course of tackling the international financial crisis, solve long-term structural problems that existed in our economic development, change our development modes, and strive to improve the quality and level of our economic development while promoting the recovery of world economic growth. We should adhere to open markets, give play to our complementary advantages and expand economic and trade cooperation.

- Committed to promoting the reform of international financial system. We need to jointly push forward the development of plans regarding the reform of the International Monetary Fund and the World Bank and effectively increase the say and representation of developing countries so as to objectively reflect the changes in world economy.

- Committed to executing the United Nations Millennium Development Goals. We need to continue to call upon the international community not to neglect development issues or reduce development investment just because of the international financial crisis. The international community should give particular attention to the impact of the international financial crisis on developing countries, especially the least developed countries. We need to call on all parties to continue to execute the Millennium Development Goals and urge developed countries to fulfill their official development assistance commitments.

- Committed to ensuring food security, energy and resources security, and public health security. We are all trying our best to cope with the international financial crisis, but at the same time, it is necessary to have a long-term perspective, make overall planning, and properly handle other outstanding issues that affect development, especially climate change, food security, energy and resources security, and public health security. These problems have a direct bearing on the well-being and overall interests of the people in the world.

Hu stressed, “in the face of complex international challenges, let us, with a strong sense of responsibility and mission, make concerted efforts, deepen cooperation and stay committed to building a harmonious world featuring lasting peace and common prosperity.”

Russian President Medvedev said that "BRIC" countries have great economic strength. The four countries should strengthen coordination and make proposals on major international financial issues, execute the consensus reached at the G-20 financial summits in Washington and London, improve the international financial system, strengthen the multilateral and bilateral cooperation and jointly cope with energy security, food security, climate change and other issues.

Brazilian President Luiz Inacio Lula da Silva said that the successful convening of the meeting is of great significance. China, Russia, India, Brazil are all important countries. The four countries sitting together is a historic moment. The international financial crisis made the international community aware of the importance of emerging countries. Strengthening cooperation between emerging countries will greatly influence international relations. "BRIC" countries have enormous room for cooperation. Therefore "BRIC" countries should expand bilateral trade, increase coordination and cooperation in finance and other areas, and be committed to building a better world.

Indian Prime Minister Manmohan Singh said that the G-20 Financial Summit in London reached a wide range of consensus, which identified the direction for the reform on international financial system. We must resolutely oppose protectionism, promote the reform of international economic and financial management structure, strengthen economic cooperation between entities, enhance mutual trade and investment, and expand cooperation in science, technology, energy, agriculture and other areas.

The meeting issued a Joint Statement of the BRIC Countries’ Leaders in Yekaterinburg and a statement on food issue.

After the meeting, the leaders of the four countries met with the media collectively.

The evening, Hu attended the work dinner hosted by President Medvedev for the "BRIC" leaders.

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