The BRICS countries are agreeing on the cooperation in finance as well as strengthening policy coordination in order to facilitate global economic recovery, that’s a key message from this year’s first BRICS Finance Ministers and Central Bank Governors Meeting held on Friday. BRICS is an emerging-market bloc that includes Brazil, Russia, India, China and South Africa. CGTN’s Gao Ang reports.
The economic outlook, policy coordination and infrastructure investment. Key issues discussed at a meeting of finance ministers and central bank governors from the five BRICS countries. China’s Minister of Finance Liu Kun and the Governor of the People’s Bank of China Yi Gang co-chaired the meeting.
LIU KUN China’s Minister of Finance “The BRICS members have maintained good momentum of cooperation in financial fields in recent years, strengthened macro policy coordination, jointly responded to the challenges of the pandemic, improved global economic governance, and effectively driven forward a global economic recovery and high-quality development.”
China took over the BRICS chairmanship at the beginning of 2022 and will host the 14th BRICS Summit later this year.
The economic bloc, involving Brazil, Russia, India, China, and South Africa, represents over 40 percent of the global population and over 20 percent of global GDP. And this year’s theme is forming a high-quality partnership and creating a new era of global development.
Facing a disrupted global supply chain and inflationary pressure, officials stressed the increasing importance of cooperation.
LIU KUN China’s Minister of Finance “Focusing on this year’s theme, China will continue to promote financial cooperation among BRICS countries, and promote the recovery and sustainable growth of the global economy and the economies of different countries.”
GAO ANG Beijing “Under a complex international situation, China’s finance minister is calling on the BRICS countries to strengthen policy coordination and facilitate economic recovery, with the aim of stronger, greener and healthier global development. GA, CGTN, Beijing.”