BRICS members to implement outcomes from G20 Summit
People’s Daily calls for BRICS members to implement outcomes from G20 Summit
The two-day BRICS Summit kicked off in Goa, India on Saturday. People’s Daily said on Sunday in a commentary that as the gathering of BRICS leaders after the G20 Hangzhou Summit, the meeting will significantly encourage BRICS countries to take a lead in implementing the outcomes from the Hangzhou Summit and advance cooperation among emerging markets and developing countries.
Born after the international financial crisis, both the BRICS Summit and the G20 Summit are important platforms to bolster world economic growth and improve global economic governance, the commentary noted.
“During the Hangzhou Summit, the G20 leaders depicted a vision to boost global growth by pursuing an innovative, invigorated, interconnected and inclusive world economy. If the BRICS members, as an engine of global economic growth, take an initiative in implementing such ‘Hangzhou Consensus’, their cooperation will be endowed with stronger vitality,” read the commentary.
Currently, the world economy is suffering from a headache with weak growth and new driving forces are yet to replace old ones. BRICS countries are facing a slowdown of economic growth and even negative growth.
Given such difficulties, the editorial said that the BRICS countries should advance economic structural reform, explore new growth sources by prioritizing innovation and focus more on green and sustainable development.
“By supporting the G20 blueprint for innovative growth and its agenda on structural reform as well as taking the lead in implementing relevant outcomes, BRICS countries will generate late-developing advantages in the new round of technological and industrial revolution,” read the commentary, adding that the impetus for world economic growth will be stronger if the five countries strengthen macro-economic policy coordination, implement their economic partnership strategy and complement their advantages for interconnected growth.
Over the past few years, BRICS countries have established dialogues with African countries, South American countries and member states of the Eurasian Economic Union and the Shanghai Cooperation Organization. Such gestures have not only improved global development partnerships, but facilitated South-South cooperation, said the People’s Daily.
“BRICS countries will make new contributions to international development cooperation by implementing the Hangzhou Summit results,” the People’s Daily piece noted, adding that with outcomes like the action plan on implementing the 2030 Agenda for Sustainable Development and the initiative on supporting the industrialization of African and least-developed countries, the G20 Hangzhou Summit gives more emphasis than ever to development-related agendas and yields richest development outcomes.
Rising in an international order dominated by the West, the BRICS mechanism aims to seek a new path centered on peaceful and cooperative development for major countries. “The five countries cherish a peaceful environment and value the significance of cooperation since their own development is closely related to world peace,” the article pointed out.
BRICS countries participate in the settlement of hotspot issues in a constructive manner, always advocate peaceful dialogues and pursue political settlement of disputes.
“As protectors of world peace, promoters of global security and builders of international security order, BRICS countries contribute to maintaining the international security cooperation system with UN as the core,” the commentary noted.
The editorial emphasized in the end that the BRICS nations have been pursuing the spirit featuring openness, inclusiveness, cooperation and win-win results in the last 7 years and will continue to do so in the future.
“As long as they persist in such spirit despite of difficulties and distractions, they will shine brighter and bring more benefits to their own people as well as the international community,” the paper concluded.