BRICS must coordinate in key areas of development: Manmohan

Cautioning that the traditional sources of economic growth are under stress coupled with fresh uncertainties around the globe, the Prime Minister, Dr Manmohan Singh, has said that it would be to the advantage of five-nation BRICS grouping to coordinate in key areas of development.

“The traditional sources of economic growth are still under stress, even as fresh uncertainties have emerged as a result of recent developments in different parts of the world,” he said in a statement today ahead of his departure for a two-nation tour to China and Kazakhstan.

Dr Manmohan Singh, who would be attending the BRICS — Brazil, Russia, India, China and South Africa — leaders meeting at Sanya in China, said if the member nations can cooperate, “our positions on some key areas such as sustainable development, balanced growth, energy and food security, reforms of international financial institutions and balanced trade, that will be to our advantage.”

The Prime Minister, who would be attending the third summit of BRICS grouping since the first standalone meeting in 2009, said the conclave would see the participation of South Africa for the first time.

“India welcomes South Africa’s membership of BRICS, which will provide an African perspective to our deliberations”, he said.

The Prime Minister said he looked forward to a wide-ranging exchange of views with the BRICS leaders on the state of the world economy and the contribution which the grouping can make in sustaining the process of global economic and financial recovery.

Noting that all BRICS countries are members of the G-20 and the United Nations Security Council, he said that the experience of working with each other in these forums has been positive and holds promise.

“This gives the Sanya Summit, whose theme is ‘Broad Vision and Shared Prosperity’, special significance,” he said.

Dr Manmohan said during his stay in Sanya, he looked forward to his meeting with the Chinese President, Mr Hu Jintao.

“The India-China relationship is a key relationship which has now acquired global significance,” the Prime Minister said.

On the sidelines of the BRICS Summit, he said he would have bilateral talks with the Russian President, Mr Dmitry Medvedev, the Brazilian President, Mr Dilma Rouseff, and the South African President, Mr Jacob Zuma.

“Our relations with these countries are very warm and substantive”, he said.

During the five-day tour, Dr Manmohan will also pay a two-day bilateral visit from April 15 to Kazakhstan where the two countries are expected to sign at least six pacts, including an inter-governmental agreement on civil nuclear cooperation.

The Prime Minister, who will be visiting Kazakhstan for the first time, said: “It is an important partner of India in a region which has always displayed special empathy and goodwill towards India.’’

Dr Manmohan said he would build upon the successful visit of the President, Mr Nursultan Nazarbayev, to India in 2009 and seek to expand the frontiers of cooperation with “that great country’’.

There was immense potential for moving forward in areas such as political and security cooperation, trade and investment, energy, pharmaceuticals, agriculture, information technology and capacity building, he said.

“My visit signals India’s abiding interest in Central Asia that is rooted in the history and culture of this region,” the Prime Minister said.

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