Xi says BRICS expansion historic, new starting point for cooperation

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Chinese President Xi Jinping said on Thursday that China will soon launch a special fund of 10 billion U.S. dollars to implement the Global Development Initiative.

Chinese President Xi Jinping said Thursday that the BRICS expansion is historic and a new starting point for BRICS cooperation.

Xi made the remarks at a press conference during the 15th BRICS Summit after South African President Cyril Ramaphosa announced that six countries, namely Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates, were invited to become new BRICS members.

China offers its congratulations to these countries, and expresses its high appreciation for the efforts made by South Africa, the chair of BRICS, and President Ramaphosa, Xi said.

The expansion reflects the resolution of the BRICS countries to unite and cooperate with other developing countries, meets the expectations of the international community, and serves the common interests of emerging markets and developing countries, Xi stressed.

He added that the expansion will also inject fresh vitality into the BRICS cooperation mechanism, and further strengthen the forces for world peace and development.

The BRICS countries all hold important influence and shoulder crucial responsibilities for world peace and development, Xi noted.

During this summit, in-depth discussions were held on the current international situation and BRICS cooperation, among others. Broad consensus was reached, a declaration issued, and fruitful results achieved, he said.

Xi said he believes that as long as the BRICS countries pull together, a lot can be achieved in BRICS cooperation, and a promising future awaits the BRICS countries.

The Chinese president also called on BRICS members to work together to write a new chapter of solidarity and cooperation among emerging markets and developing countries for development.

The press conference was hosted by Ramaphosa, and also attended by Brazilian President Luiz Inacio Lula da Silva and Indian Prime Minister Narendra Modi. Russian President Vladimir Putin participated online

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