7/13/2018, 7:59 AM (Source: TeleTrader)
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BRICS to increase cooperation amid Western challenges - China

Chinese Assistant Foreign Minister Zhang Jun stated on Friday that the five member-countries of BRICS (Brazil, Russia, India, China, South Africa) will increase the level of cooperation in the face of challenges and risks stemming from a number of Western countries, including the ongoing trade tensions with the United States. He added that the BRICS nations are determined to uphold international trade rules created by the World Trade Organization (WTO), while promoting cooperation in digital economy and infrastructure construction projects.

"The countries will boost macropolitical coordination to respond to challenges, such as unilateral actions and protectionism, and risks associated with policy changes in some developed Western countries," Jun told reporters.

Jun's comments come ahead of the BRICS summit scheduled for 25-27 July in Johannesburg. The first formal summit of BRIC (South Africa was inducted in 2010) was held in 2009 in the Russian city of Yekaterinburg, where sides agreed to improve the global economic situation and reform financial institutionsm

Breaking the News / FH