Brazilian president hails BRICS mechanism for advancing global economic development

China

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".

China ready to work for steady, sound ties with Canada: FM

China is willing to strengthen communication, enhance trust, eliminate interference, and deepen cooperation with Canada to bring bilateral relations forward on a steady and sound track in solid strides under the new circumstances, said Chinese Foreign Minister Wang Yi on Thursday.

Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, met with Canadian Foreign Minister Anita Anand in Beijing on the day.

Referring to Canadian Prime Minister Mark Carney's visit to China, the first by a Canadian prime minister in eight years, Wang said the trip marks a milestone in bilateral ties and signals a turning point in the relationship.

The leaders of the two countries will hold meetings and talks, which are expected to open up new prospects for bilateral relations, said Wang.

The world today is undergoing profound and complex changes, and the impact of China-Canada relations transcends the bilateral scope, Wang noted.

Wang said that China and Canada have different social systems, stemming from different historical and cultural heritage, and based on the choices of their respective people.

He urged both sides to view each other in a rational and amicable manner with an inclusive mindset, handle issues on the basis of mutual respect, focus on the agenda of cooperation, and send positive messages so as to foster optimism, inject greater confidence into the development of bilateral relations, and jointly build a new type of strategic partnership between China and Canada.

Anand said the new Canadian government attaches great importance to relations with China. She also added that Prime Minister Carney looks forward to engaging in in-depth exchanges with Chinese leaders during the visit to set the course for the development of bilateral relations, resume dialogue in various fields, pursue more mutually beneficial outcomes, enhance coordination and cooperation in multilateral affairs, and further advance the strategic partnership between the two countries.