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BRICS to discuss expanding role in world economic revival: Brazilian diplomat

03-23-2012 13:47 BJT Special Report:President Hu Visits India, Cambodia, Attends BRICS Summit |

BRASILIA, March 23 (Xinhua) -- BRICS members will discuss how to expand the bloc's role in reviving the global economic growth at the upcoming summit in New Delhi, a senior Brazilian diplomat told Xinhua on Thursday.

"According to the IMF (International Monetary Fund), BRICS is responsible for 56 percent of global growth, while the G7 (Group of Seven major industrialized nations) is responsible for only 9 percent," said Maria Edileuza Fontenele Reis, undersecretary for political affairs at Brazil's Foreign Ministry.

She added that trade among the group's five members, namely Brazil, Russia, India, China and South Africa, has seen huge increases over the past decade, rising from 27 billion U.S. dollars in 2002 to 250 billion dollars last year.

Noting that the concerns over the consequences of the crisis in the developed nations are still hovering, she pointed out that the upcoming BRICS summit "occurs in a moment when the global economy requires a lot of attention."

"Because of that, the consequences of the crisis will be discussed again in this meeting, and we should defend the reforms in the IMF and the criteria of nomination for posts in the World Bank," she said.

Meanwhile, she said the conversations between the group's central bank governors have contributed to stimulating intra-BRICS trade since the economic forum was held in 2010.

Peace and international security are also on the summit's discussion list, she said, adding that a statement calling for peace and condemning violence in such areas as the Middle East and North Africa is expected.

According to Fontenele, BRICS played an important role in major international issues in 2011, including their actions in the UN Security Council concerning Syria.

Editor:Wang Lingfei |Source: Xinhua

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