Brazilian president hails BRICS mechanism for advancing global economic development

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Brazilian president hails BRICS mechanism for advancing global economic development

2025-07-06 16:13 Last Updated At：07-07 00:37

Brazilian President Luiz Inacio Lula da Silva emphasized the significant contributions of the BRICS cooperation mechanism to global economic development and multilateralism at the opening session of the BRICS Business Forum 2025 on Saturday.

The forum, held in Rio de Janeiro, brought together participants to deliberate on topics including sustainable economic development, food security, energy transition, and digital economy of BRICS countries.

Lula stated that 40 percent of the global GDP is contributed by BRICS countries, with the overall GDP growth of BRICS countries reaching four percent in 2024, significantly exceeding the global average of 3.3 percent.

The Brazilian president said the BRICS mechanism will make more contributions to the world.

"As global protectionism is on the rise, emerging economies should jointly defend the global multilateral trading system and reshape the international financial architecture. The BRICS cooperation mechanism will continue to provide guarantees for a better life for the people," Lula said.

Lula also spoke highly of the significant contribution of the New Development Bank (NDB) to the international financial system.

Five BRICS countries -- Brazil, Russia, India, China and South Africa -- established the NDB in 2014. Headquartered in Shanghai, the NDB officially began operations in 2015 to fulfill its mission of mobilizing resources for infrastructure and sustainable development projects in BRICS member nations, as well as other emerging-market economies and developing countries.

The 17th BRICS Summit is being held Sunday and Monday in Rio de Janeiro. As the rotating chair of the bloc, Brazil is hosting the summit under the banner of "Strengthening Global South Cooperation for More Inclusive and Sustainable Governance".

Bogota residents express gratitude to China's quake relief supplies for Colombia

Residents from Colombian capital city of Bogota expressed their gratitude to China's humanitarian aid supplies for the country's quake-affected communities after a shipment of 80-tonne relief supplies arrived on Tuesday.

A magnitude 7.5 earthquake struck western Colombia on Aug 10. The death toll from the quake had risen to 304, with 4,548 people injured and 426 others missing, the country's disaster management agency said Tuesday.

The items, including generators, mobile water purification vehicles, medical disinfection gears, solar-powered lights, tents, and blankets, are urgently needed in the country which is facing the enormous challenge of relief and reconstruction.

"This is excellent. The earthquake was devastating and we are thankful to China and everyone who is helping and putting their grain of sand," said Raimundo Montemiranda, a security guard.

"Thankful to this help, and any help is going to be helpful from people and countries. This is solidarity and the unity of the world," said Eduardo Prieto, an insurance salesman.

Colombian President Abelardo de la Espriella said Monday night that about one-third of Colombia had been affected by the quake, which was centered in San Jose del Palmar in the department of Choco.

He said preliminary estimates put direct economic losses from the earthquake at nearly 30 trillion Colombian pesos (about 9.6 billion U.S. dollars), including 24.5 trillion pesos in building damage and 5.5 trillion pesos in infrastructure damage.

Domestic and international humanitarian aid are both keeping pouring into the hardest-hit areas while search and rescue teams are still working in places where people may remain trapped under the rubble.