YEKATERINBURG, Russia (Reuters) - Brazil, Russia, India and China concluded their first formal summit as the “BRIC” bloc of emerging economic powers on Tuesday, issuing a joint statement calling for deeper international economic reform.
Here are highlights from that statement:
“We are committed to advance the reform of international financial institutions, so as to reflect changes in the world economy. The emerging and developing economies must have greater voice and representation in international financial institutions, and their heads and senior leadership should be appointed through an open, transparent and merit-based selection process. We also believe there is a strong need for a stable, predictable and more diversified international monetary system.”
“We recognize the important role played by international trade and foreign investments in the world economic recovery ... We urge the international community to keep the multilateral trading system stable, curb trade protectionism, and push for comprehensive and balanced results of the WTO’s Doha Development Agenda.”
“We stand for strengthening coordination and cooperation among states in the energy field, including amongst producers and consumers of energy and transit states, in an effort to decrease uncertainty and ensure stability and sustainability.”
“We express our strong commitment to multilateral diplomacy with the United Nations playing the central role in dealing with global challenges and threats. In this respect, we reaffirm the need for a comprehensive reform of the U.N. ... We reiterate the importance we attach to the status of India and Brazil in international affairs, and understand and support their aspirations to play a greater role in the United Nations.”
Editing by Stephen Nisbet