BRIC nations to coordinate efforts at G20 economic summit in Washington
According to the Russian delegation to the G20 financial conference in the Brazilian city of Sao Paolo ahead of the G20 Economic Summit slated for November 15 in Washington, Brazil, Russia, India and China — commonly grouped together by the BRIC acronym, will coordinate their efforts at the gathering of the leaders of the world’s largest 20 economies that will try to map out a common approach and united measures to tackle the current global crisis and its devastating negative consequences on the global financial markets in the United States later this week.
Alexei Kudrin, the Russian deputy prime minister and finance minister, who headed the Russian delegation to the Sao Paolo conference, said the main goal of the Washington G20 Summit is to restore free and easy access to financial resources. Commenting on the Sao Paulo conference, a preparatory ground for the more influential Washington summit, Kudrin noted that the BRIC finance ministers have worked out common measures for the near future, having agreed to join efforts in boosting the volumes of trade and flows of capital. “The most important thing is that we have agreed to coordinate efforts,” he added.
The BRIC finance ministers, which met separately at the sidelines of the Sao Paolo conference, specifically noted in a communique the fact that despite the current global crisis has affected all nations, the BRIC states have demonstrated ‘significant stability’ compared to the other economies.
“The BRIC states support the resolute measures and unprecedented initiatives being taken by the global community to rein in the current crisis, highlight the importance of coordinated international efforts and actions to protect the global financial system, world economy, levels of revenues and employment,” according to the excerpts from the BRIC communique issued at the end of the conference.
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