Strengthen dialogue, cooperation & coordination with emerging-market countries

Yang said the meeting of the leaders of the BRIC nations -- Brazil, Russia, India and China -- was of historic significance since it was their first official summit.

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. (Xinhua/Yao Dawei)

The BRIC leaders exchanged in-depth views on major economic and development issues and ways to tackle the ongoing global financial crisis. They also laid out a blueprint for BRICs' future dialogue, cooperation and coordination.

President Hu systematically expounded China's view and stance on the BRIC cooperation amid the current financial crisis, saying the BRIC nations were facing new development opportunities as well as unprecedented challenges.

Hu urged the countries to seize historical opportunities and strengthen cooperation and solidarity in a bid to safeguard the overall interests of developing nations.

While calling for closer cooperation among BRIC countries, Hu presented a four-point proposal, urging them to strengthen political mutual trust, deepen economic cooperation, promote cultural exchanges and encourage sharing each other's useful experiences.

The BRIC leaders said the four countries have a great potential for dialogues and cooperation, which should be further strengthened and deepened in an effort to safeguard common interests of emerging-market countries and developing nations.

The BRIC members and countries around the world are now facing a major task of actively tackling the economic crisis and promoting the recovery of the world economic growth, Hu said.

To this end, the BRIC nations should strengthen coordination and effectively implement the results of the G20 Summit, he added.