BRICS summit and 4 state visits for President Xi
Source: Bloomberg News |
March 19, 2013, Tuesday
|
Print Edition
Print Edition
CHINESE President Xi Jinping is to pay state visits to Russia, Tanzania, South Africa and the Republic of Congo during a trip abroad that will begin on Friday and end on March 30.
Xi will attend the fifth leaders' summit of BRICS countries in Durban, South Africa, on March 26 and 27, foreign ministry spokesman Qin Gang said yesterday.
Brazil, Russia, India, China and South Africa will move toward setting up a development bank during the summit to speed up the makeover of the world's financial system, a Kremlin envoy said.
Leaders of the BRICS group of the world's biggest developing economies will discuss the size of the bank's starting capital, said Mikhail Margelov, President Vladimir Putin's envoy to Africa. An agreement on the exact amount of resources to be committed isn't likely and Russia favors capping each side's contribution to US$10 billion at first, he said last Friday.
"Better we start with something small and beautiful," said Margelov, who will join Putin at the summit. "Our strategic goal is to transform the aging international financial architecture."
Setting up a development bank is part of a push to win greater influence in international institutions to match the BRICS' rising economic heft.
The group, which accounts for more than 40 percent of the world's population, authorized a study into the feasibility of establishing a multilateral bank for funding projects in the developing world at a summit in New Delhi last year.
The BRIC nations held their first summit in 2009 and invited South Africa to join the group in December 2010.
A framework agreement that BRICS leaders plan to sign in Durban will outline a strategic interest shared by the five countries to invest in infrastructure, energy and telecommunication projects, Margelov said.
South Africa is proposing investing in construction of a rail link to Namibia through Botswana, he added.
Another accord may be signed on cooperation between stock exchanges to unify trading platforms and time standards, Margelov, who also heads the international affairs committee of Russia's upper house of parliament, said.
Xi will attend the fifth leaders' summit of BRICS countries in Durban, South Africa, on March 26 and 27, foreign ministry spokesman Qin Gang said yesterday.
Brazil, Russia, India, China and South Africa will move toward setting up a development bank during the summit to speed up the makeover of the world's financial system, a Kremlin envoy said.
Leaders of the BRICS group of the world's biggest developing economies will discuss the size of the bank's starting capital, said Mikhail Margelov, President Vladimir Putin's envoy to Africa. An agreement on the exact amount of resources to be committed isn't likely and Russia favors capping each side's contribution to US$10 billion at first, he said last Friday.
"Better we start with something small and beautiful," said Margelov, who will join Putin at the summit. "Our strategic goal is to transform the aging international financial architecture."
Setting up a development bank is part of a push to win greater influence in international institutions to match the BRICS' rising economic heft.
The group, which accounts for more than 40 percent of the world's population, authorized a study into the feasibility of establishing a multilateral bank for funding projects in the developing world at a summit in New Delhi last year.
The BRIC nations held their first summit in 2009 and invited South Africa to join the group in December 2010.
A framework agreement that BRICS leaders plan to sign in Durban will outline a strategic interest shared by the five countries to invest in infrastructure, energy and telecommunication projects, Margelov said.
South Africa is proposing investing in construction of a rail link to Namibia through Botswana, he added.
Another accord may be signed on cooperation between stock exchanges to unify trading platforms and time standards, Margelov, who also heads the international affairs committee of Russia's upper house of parliament, said.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
