Xi urges BRICS nations to build open economy for mutual benefit

TIL Desk/World/Johannesberg/ Chinese President Xi Jinping has said BRICS countries should pursue win-win cooperation to build an open economy. Addressing a business forum on Wednesday here at the 10th BRICS summit scheduled from July 25-27, the Chinese President said different countries can achieve mutual benefit, shared prosperity and sustainable development only by opening themselves up.

Openness and cooperation are the sure way to achieve progress in science and technology and growth of productivity, he said. Xi called on BRICS countries to firmly promote an open world economy, be resolute in rejecting unilateralism and protectionism, promote trade and investment liberalisation and facilitation, and jointly steer the global economy toward greater openness, inclusiveness, balanced growth and win-win outcomes for all.

“We should ensure that economic globalisation will deliver more benefits,” he said. He also called on BRICS countries to help emerging markets and developing countries, African countries and the least developed countries in particular, fully involve themselves in international division of labour and share in the benefits of economic globalization.