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First BRIC summit. Yekaterinburg, June 2009

    First BRIC summit. Yekaterinburg, June 2009

Cooperation within BRIC

BRIC is a loose group of countries including Brazil, Russia, India and China, the largest economic growth and political influence centres among emerging economies. These countries have a substantial integration potential in their respective regions. The global problems of international terrorism and multinational crime, environmental degradation and climate change, plus food and energy security cannot be effectively solved without the involvement of the BRIC countries.

BRIC partnership is becoming increasingly important amid the global economic and financial downturn, when the four countries should coordinate their efforts with the international community to weather the crisis on global financial markets and reform the world financial system.

Political dialogue within the BRIC format began in New York in September 2006, when their foreign ministers conferred during the 61st UN General Assembly. Since then, the BRIC foreign ministers have met four times, including at a full-scale meeting in Yekaterinburg on May 16, 2008. The joint statement adopted as a result of the latter meeting formulated common approaches to crucial issues on the international agenda.

Ties between the BRIC foreign ministers were completed by the meetings between their finance ministers in Sao Paulo, Brazil, on November 7, 2008 and in London on March 13, 2009. The finance ministers adopted joint statements on their meetings, which reflected common views of global economic problems, including the reasons for and ways to weather the global financial crisis.

At the initiative of Russia, the four leaders had a short meeting on July 9, 2008, during the G8 summit in Japan, to agree on drafting a full-scale BRIC summit.

Official contacts in the BRIC format have been buttressed by interaction between the respective regional authorities and public organisations.

Russia would like the cooperation between the BRIC countries to become a major factor of multilateral diplomacy and to make a substantial contribution to promoting the nascent multipolarity and development of collective leadership by the worlds leading countries.


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