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The BRICS members are also expected to cooperate more in culture, education and sports spheres. “Brazil is a football kingdom, and we are ready to introduce Brazilian football to China,” said Su Guoli, director of the liaison office of Brazilian city Foz do Iguaçu in Xiamen.
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China-Brazil cooperation can serve as a model for BRICS cooperation in terms of both scale and levels, the diplomat praised, citing the fruitful collaboration launched by Chinese enterprises in power, energy, agriculture and equipment manufacturing sectors as an example.
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The NDB, undoubtedly a highlight of the BRICS economic and financial cooperation, is expected to make further progress in the upcoming summit, according to Zhou, saying the bank’s total loans are projected to reach $2.5 billion in 2017.
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I would like to point out that on Russia’s initiative a BRICS Strategy for Economic Partnership was adopted at the Ufa Summit in 2015 and is being successfully implemented. We hope to be able to discuss new large-scale cooperation tasks in trade and investment and industrial cooperation at the Xiame
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Chinese commerce ministry’s most recent report revealed that China’s e-commerce expanded to 26.1 trillion RMB in 2016, accounting for a remarkable 40 percent of the global share. China has much to share with its rich experience in e-commerce platform building, digital payment systems, and logistics,
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Foreign trade with India reached 326.66 billion yuan, a rise of 28.3 percent year-on-year, while foreign trade with South Africa reached 156.23 billion yuan, up 33.7 percent year-on-year. The country’s foreign trade volume with Brazil hit 343.69 billion yuan, a 37.7 percent rise on a year-on-year ba
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In the BRICS trade ministers’ meeting held in August, all five countries reiterated their commitment to safeguarding the multilateral trade system and opposition to protectionism. Such consensus, Zhang believed, would be reinforced in Xiamen next week.
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The establishment of the BRICS Business Council, New Development Bank (NDB), and the BRICS Contingent Reserve Arrangement (CRA) all offered important impetus for development of BRICS cooperation in the future.<br />In addition, it is biased for some media to say that China plays a dominant role in t
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One key reason BRICS remains underdeveloped after 10 years in existence is that it has failed to motivate and unify other emerging economies and developing countries, and no "scale effect" has come into play.
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The global pattern is changing. Developed countries have seen the rising influence of emerging economies. But the world is far from being equal. The majority of core resources in global governance is controlled by developed countries.
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By 2022, gross merchandise volume generated via online shopping portals will reach about $3 trillion in Brazil, Russia, India, China and South Africa, 59 percent of the world’s total, the report projected.
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China’s efforts to propel pragmatic cooperation among the BRICS countries, perfect global governance as well as its appeals to lift position of emerging markets and developing countries have won applause from the international community, the article emphasized.