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BRICS pledge to play greater role in world peace, economic growth

Update: July, 10/2015 - 15:36

UFA, Russia — The BRICS group of emerging economies, at the end of a summit in Ufa, Russia, pledged to play bigger roles in ensuring international peace and security and propelling global economic growth.

Leaders of the five BRICS nations – Brazil, Russia, India, China and South Africa – also said on Thursday they are "deeply disappointed" that the US Congress has failed to approve reforms to the International Monetary Fund, agreed in 2010, to raise emerging countries' voting rights within the institution.

In a joint declaration, the leaders said, "We emphasised the importance to strengthen BRICS solidarity and co-operation, and decided to further enhance our strategic partnership."

"We will unite and further contribute" to resolving issues crucial to international security and the global economy, Russian President Vladimir Putin said at a press conference following the summit held in Russia.

Chinese President Xi Jinping said in a statement that the BRICS should pursue "joint efforts to improve the status of emerging countries".

Other attendants were Brazilian President Dilma Rousseff, Indian Prime Minister Narendra Modi and South African President Jacob Zuma.

On the IMF, the leaders said in the declaration, "We remain deeply disappointed with the prolonged failure by the United States to ratify the IMF 2010 reform package, which continues to undermine the credibility, legitimacy and effectiveness of the IMF."

The reforms are designed to give more voting power to countries like China and India while increasing the fund's resources and reducing the influence of European members on its board. — KYODO

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