China welcomes like-minded partners to join BRICS

 

China welcomes more like-minded partners, including Indonesia, to join BRICS, which is an open and inclusive mechanism, foreign ministry spokesperson Lin Jian said on Monday.

Lin's remarks came after Indonesian Foreign Minister Sugiono last week expressed Indonesia's commitment to joining BRICS, viewing it as a strategic platform to advocate for the interests of developing nations and the Global South.

Lin said that as an important platform for emerging markets and developing countries to enhance solidarity and cooperation and uphold common interests, the BRICS cooperation mechanism has become a positive and stable force for good in international affairs.

Indonesia is an important major developing country and emerging economy, which has actively involved itself in "BRICS Plus" cooperation in recent years, he added.

"BRICS is an open and inclusive mechanism, and we welcome more like-minded partners, including Indonesia, to join the BRICS family," said the spokesperson

BRICS plays a vital role in promoting cooperation among developing nations and emerging markets, said Liang Guoyong, a senior economist with the United Nations Conference on Trade and Development, in a written interview with Xinhua.

Practical cooperation has always been the foundation of the BRICS mechanism. As Xi once put it, "BRICS is not a talking shop, but a task force that gets things done."

A case in point is the New Development Bank (NDB). Headquartered in Shanghai, the NDB was jointly established by Brazil, Russia, India, China, and South Africa in 2014 to mobilize resources for infrastructure and sustainable development projects in BRICS member nations and other emerging market economies and developing countries. By the end of 2023, the NDB has cumulatively approved loans of 35 billion U.S. dollars for around 100 projects.

In a declaration issued at this year's summit, BRICS leaders agreed to develop the NDB into a new type of multilateral development bank for the 21st century, support its membership expansion, and expedite the review of membership applications from BRICS countries in accordance with its general strategy and related policies.

by XINHUA