China allays fears over its domination of BRICS 'Bank'
Quotes

China allays fears over its domination of BRICS 'Bank'

Last Updated: Friday, March 30, 2012, 19:33
 
 Comment 0
 
China allays fears over its domination of BRICS 'Bank'
Beijing: Allaying apprehensions that China with its financial muscle would dominate the proposed BRICS Bank, Beijing on Friday said it is a "meaningful endeavour" aimed at achieving a win-win deal for developing countries.

Foreign Ministry spokesman Hong Lei told reporters here that the just concluded New Delhi BRICS summit discussed a proposal to set up such a bank in order to pool financial resources for infrastructure and sustainable development projects in the developing countries.

"The meeting asked Ministers to conduct a feasibility study on the setting up this bank," he said, adding that the proposed bank aims at enhancing the well-being of developing countries.

"I think this is very meaningful endeavour and such a step will contribute to investment, trade and development of the developing countries and will result in win-win outcomes for all countries. China would like to play a positive role in it," he said.

About the summit, Hong said the "successfully concluded" meeting showed the spirit of solidarity and partnership with a message of unity, cooperation and win-win outcome to the world.

China, India, Brazil, Russia and South Africa are members of the BRICS grouping.

He said the meeting has brought about an important consensus on promoting global economic governance besides pushing ahead practical cooperation among the BRICS countries in all fields.

"The leaders reached important and wide ranging consensus on major international and regional issues of common interest," he said.

The meeting has shown that the cooperation among BRICS countries is in line with the trend of peace, development and cooperation.

"China believes that this cooperation will reach higher levels and will continue to play a constructive role in promoting global economic growth, improving global economic governance, strengthening multilateralism and democracy in international relations," he said.

"We are fully confident in the development of BRICS countries and their cooperation," he said.

PTI



First Published: Friday, March 30, 2012, 19:33


Comments


comments powered by Disqus
BRICS Annual Summit 2014
BRICS Annual Summit 2014
Tata Zest Standout Features: In Pics
Tata Zest Standout Features: In Pics
New car launches in July
New car launches in July
Tata Zest first drive review: In pics
Tata Zest first drive review: In pics
Google I/O 2014
Google I/O 2014

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved