Chinese president arrives in Yekaterinburg for SCO summit, BRIC meeting

Chinese President Hu Jintao (L) is welcomed by Russian Deputy Foreign  Minister Alexei Borodavkin upon his arrival in Jekaterinburg, Russia,  on June 14, 2009, for a summit of the Shanghai Cooperation Organization  (SCO) and a meeting of BRIC countries, namely Brazil, Russia, India  and China.(Xinhua/Lan Hongguang)

In Yekaterinburg, President Hu will also attend the first formal meeting of BRIC countries, an acronym for the four fast growing developing economies of Brazil, Russia, India and China At the BRIC meeting on Tuesday, the leaders of the four emerging economies will discuss the major issues such as the international financial crisis, reform of the financial institutions, food and energy security, climate change, trade, and the future of BRIC dialogue.

"We expect the BRIC meeting to expand strategic consensus, consolidate mutual trust, coordinate to cope with the global financial and economic crisis and lay out the blueprint for its future development," said Chinese Vice Foreign Minister He Yafei last Tuesday.

Speaking at a meeting of senior BRIC representatives on security issues on May 29, Chinese State Councilor Dai Bingguo said the BRIC countries should work together to enlarge their consensus, exchange views on major international and regional issues of common concern, strengthen coordination and cooperation, and facilitate the settlement of problems.

At present, Dai said, the countries should reinforce their cooperation in dealing with the economic downturn, enhance coordination on macro-economic policies, jointly oppose protectionism in any form, speed up the reform of the international financial system, and advance the creation of an international cooperation mechanism conforming to globalization and multipolarization.

The BRIC countries are all important emerging nations and driving forces for the world's common development. They share the same or similar opinions on many international issues and all have the political desire for further cooperation and communication.

In recent years, the four countries have exchanged views on world economic and developing issues of common concern through various channels.

BRIC countries account for 42 percent of the world's population, 14.6 percent of global Gross Domestic Product (GDP) and 12.8 percent of the global trade volume.

From Yekaterinburg, President Hu will travel to Moscow for a state visit, his first to Russia since President Dmitry Medvedev took office in May of 2008.

Chinese foreign ministry officials said that during the visit, Hu will meet Medvedev and other Russian leaders to exchange views on how to further develop the Sino-Russian strategic partnership of cooperation.

In Moscow, President Hu is also expected to attend the activities marking the 60th anniversary of the establishment of diplomatic relations between China and Russia.

The Chinese president is on a three-nation trip, which will also take him to Slovakia and Croatia.