Chinese President Hu Jintao Tuesday presented a four-point proposal for dealing with the ongoing global financial crisis at the first summit meeting of BRIC countries which groups Brazil, Russia, India and China.
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Chinese President Hu Jintao (2nd R) poses for a group photo together with Brazilian President Luiz Inacio Lula da Silva (1st L), Russian President Dmitry Medvedev (2nd L), and Indian Prime Minister Manmohan Singh during the first formal meeting of BRIC (Brazil, Russia, India and China) leaders in Yekaterinburg, Russia, on June 16, 2009.
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First, BRIC countries should commit themselves to bringing about an early recovery of the world economy, Hu said.
"We should work hard to overcome the difficulties and try to take the lead in recovering from the global financial crisis," he said, adding "This is not only for our own need, but also contributes to world economic recovery."
BRIC countries should solve the long-existing structural problems in their economic development and change their development pattern in an effort to improve the quality and level of their economic development , while striving to resume world economic growth.
He also urged BRIC countries to continue to open their markets, make use of their mutually complementary strength and expand economic and trade cooperation.
"We should also firmly oppose protectionism, jointly safeguard the normal and orderly flow of commodities, services and personnel worldwide, and help ensure that the Doha round of global trade talks would achieve a comprehensive and balanced outcome as soon as possible," he added.
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The first summit meeting of BRIC (Brazil, Russia, India and China) leaders is held in Yekaterinburg, Russia, on June 16, 2009. [Rao Aimin/Xinhua]
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Second, BRIC countries should commit themselves to pushing forward the reform of international financial system, Hu said.
