Commentary: BRICS set for another glittering decade

Source: Xinhua| 2017-05-27 21:38:33|Editor: Zhang Dongmiao
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BEIJING, May 27 (Xinhua) -- The BRICS Summit to be held in China in about 100 days will start another golden decade for the five nations as well as the global economy.

After ten years of development, BRICS has helped unite five single countries to become a shining representative for emerging economies, leading growth in developing countries and contributing to global economic governance.

The past decade was not without challenges for the five nations. Economic slowdown, rising trade protectionism and a volatile international security situation were common problems facing the whole world, but the BRICS countries have shown remarkable resilience with its abundant resources, vast markets, huge growth potential and enhanced cooperation.

Growth is the touchstone of BRICS. The five countries' share in global GDP increased from about 12 percent to 23 percent in the past decade while contributing to more than half of global growth.

Cooperation in economic and political fields has been a major theme of BRICS development. The BRICS Development Bank is another pioneering innovation that further boosts economic integration among Brazil, Russia, India, China and South Africa.

The main theme of the next decade will be a stronger partnership featuring more concrete cooperation in a string of fields.

In line with progress on the Belt and Road Initiative, BRICS countries have much potential for cooperation in infrastructure, trade and investment, and financial markets.

People-to-people exchanges will be a highlight of the agenda at this year's summit, with many cultural activities such as art weeks and film festivals to encourage mutual understanding.

Meanwhile, more industrial and commercial conferences will be held during the summit, inviting business leaders not just from the five nations, but many other countries.

Building on the success of the past ten years, the BRICS now eyes starting a new decade with a more expansive partnership to seek inclusive growth.

China's attempt to explore expansion with "BRICS Plus" and build a wider partnership by holding dialogues with other major developing countries and organizations will help turn BRICS into the most-influential platform for South-South cooperation in the world.

The idea of "BRICS Plus" is for the BRICS countries to stand firm against the rising wave of protectionism.

With growing global uncertainties, the next decade might not be a smooth journey but the BRICS countries will sail through and even enlighten the rest of the world as long as they can stick to a strong and expansive partnership.