BRICS File photo: VCG

China called on BRICS members to strengthen cooperation and uphold multilateralism in trade, injecting impetus into the global economic recovery, according to a recent meeting of BRICS ministers of trade and economy.

"China will take concrete steps to make its contributions to cooperation among BRICS members and the world's economy," Commerce Minister Wang Wentao said at the virtual meeting held late Monday, according to the Commerce Ministry's official WeChat account.

China, the world's second largest economy, is ramping up efforts to promote high-quality economic development, improving the opening-up level in a firm way and building up a world-class, market-driven and law-based business environment, the process of which is bound to create plentiful market opportunities for newly-emerging market economies and the developing countries, Wang said.

The Chinese minister called on BRICS members to strengthen coordination based on the consensus that has been reached in defending multilateral cooperation formats, facilitating digitalization and environmental development across emerging markets, and creating better business environment for small and micro enterprises.

BRICS, an emerging-market group that includes Brazil, Russia, India, China and South Africa, represents approximately 40 percent of the global population and accounts for about 25 percent of the global economy.

More countries are now showing interest in joining the group, demonstrating their confidence in the group's capabilities to provide development tools based on close partnership and shared growth, in comparison with the Western model that pursues its own interests.

In June, Russian Ambassador to Egypt Georgy Borisenko confirmed in an interview with Russian News Agency TASS that Cairo had submitted its application to join BRICS.

Egypt joined BRICS' New Development Bank in March this year.

The bank, headquartered in Shanghai, is also in talks with Saudi Arabia on admitting the country as its ninth member, the Financial Times reported.

South Africa will host the BRICS 2023 summit from August 22 to 24, after the country took up the one-year rotating chairmanship of the BRICS group in January.

It will be the first in-person BRICS summit since the COVID-19 pandemic.

The expansion of BRICS, a common currency within the bloc and ensuring food and energy security are among key topics of the agenda, according to media reports.

China supports South Africa in hosting the summit and stands ready to work with South Africa and other BRICS partners to make the BRICS mechanism bigger and stronger, top Chinese diplomat Wang Yi said when meeting with Khumbudzo Ntshavheni, minister in the Presidency of South Africa and the country's coordinator of BRICS National Security Advisers and High Representatives on National Security in July, according to the Xinhua News Agency.

The BRICS mechanism is the most important cooperation platform for emerging markets and developing countries, and it is in line with the trend of the times and the aspirations of most countries, Wang said, adding that the BRICS mechanism also represents the correct way forward.

Global Times