Close cooperation expected at BRIC summit

Because of their vigorous economies and huge growth potential, the four major rising economies -- Brazil, Russia, India and China -- are now major players on the world stage. Leaders of the four nations met for the first time in Russia in June last year.

Currently, the world economy has not fully recovered from the global economic crisis and developed economies such as the United States, European countries and Japan are yet to escape the aftereffects. However, the BRIC nations' economies are generally in good condition and their stronger financial, trade and economic cooperation may well contribute to the recovery of the world economy.

Wang Hongmiao, assistant researcher with the Chinese Academy of Social Sciences, said the second BRIC summit would be conducive to further intensifying the coordination among the BRIC nations in global economic affairs, and guiding the international economic relations to a more reasonable and more balanced development.

"The summit will deliver to the world the emerging and developing economies' voice on global economic matters, including the reform of the international financial system, the improvement of global economic governance and the prevention of a repetition of the ongoing financial crisis, so as to gradually push for the positive adjustments in the international economic relations," Wang said.