Xiamen-China September 04/2017 Chinese President Xi Jinping urged BRICS countries to uphold global peace and stability, while emphasizing the need to take holistic approach in fighting terrorism.
President Xi made the remark while addressing the BRICS Business Forum, kicked off at the Chinese South East coast city of Xiamen.
President Xi noted that though peace and development underpin and reinforce each other in some part of the world, some issues are posing challenges to the global peace.
"The long road to global peace and development will not be a smooth one which more than 700 million people are still living in hunger, tens of millions of people have been displaced and become refugees, while many people including innocent children have been killed in conflicts”, said.
The global economy is still not healthy enough and remains in a period of adjustment featuring weak grace and economic globalization is facing uncertainty, he said revealing concern.
The intertwine threat of terrorism and lack of cyber security among others have cast shadow on the peace and stability of the world.
The president says "I am convinced that as long as we take a holistic approach to fighting terrorism in all its forms, and address both its symptoms and root causes, terrorists will have no place to hide."
Resident Xi said that the block has faced several challenges and influenced by domestic and global scenarios over the past decade.
The block’s formation, which made up of Brazil, Russia, India, China and South Africa, came with the pledge that would change global economic and governance order.
Inconsistencies within and among BRICS member countries, the growing trend of protectionism against globalization, and the sluggish global economic recovery are among the major challenges that the block has facing.
President Xi says “we expect to reach consensus for actions in support of the multilateral trade system and oppose trade protectionism”, as he opposed the move.
He stressed that the BRICS countries should have come to "a crucial stage where we must work harder to overcome difficulties."
In 2006, foreign ministers from China, Russia, India and Brazil gathered in New York City to officially set up the BRIC consortium. Later in 2010 South Africa joined the block and the ellipsis shaped into BRICS. Ever since this mechanism came into existence, member countries have created tremendous opportunities for the world economy to improve.
President Xi said, though the five emerged economies “have encountered headwinds of varying intensity but the growth potential and growth trends of these countries remain unchanged.”
“In the past decade, BRICS’s combined GDP has grown by 179%, trade by 94% and urban population by 28%,” he underscoring the rising influence of the five countries.
“Global economy has resumed growth, with emerging markets and developing countries delivering a strong performance, a new round of technological and industrial revolution is in the making, and reform and innovation are gaining momentum” Xi expressed potential opportunities of BRICS to the world.
The 100 billion USD BRICS CRA has become fully operational following the inaugural meetings of the BRICS CRA Board of Governors and the Standing Committee in the Turkish capital of Ankara in 2015.
BRICS, therefore, should demonstrate its role as an alternative source of power, derived from the combination of global rising powers that can contribute to the stability of the world order and introduce new rules of behavior, and new rules of cooperation on an international scale.