Full text of BRICS Leaders Xiamen Declaration

20. Keenly aware of the negative impact of corruption on sustainable development, we support the efforts to enhance BRICS anti-corruption cooperation. We reaffirm our commitment to intensify dialogue and experience sharing and support compiling a compendium on fighting corruption in BRICS countries. We further acknowledge that illegal flow of the proceeds of corruption impairs economic development and financial stability, and support enhanced cooperation in asset recovery. We support the strengthening of international cooperation against corruption, including through the BRICS Anti-Corruption Working Group, as well as on matters related to asset recovery and persons sought for corruption. We acknowledge that corruption including illicit money and financial flows, and ill-gotten wealth stashed in foreign jurisdictions is a global challenge which may impact negatively on economic growth and sustainable development. We will strive to coordinate our approach in this regard and encourage a stronger global commitment to prevent and combat corruption on the basis of the United Nations Convention against Corruption and other relevant international legal instruments.

21. Living in the era of digital economy, we are ready to use opportunities it provides and address challenges it poses for the global growth. We will act on the basis of principles of innovation, partnership, synergy, flexibility, open and favorable business environment, trust and security, protection of consumer rights in order to ensure the conditions for a thriving and dynamic digital economy, that will foster global economic development and benefit everyone.

22. We appreciate the efforts and contribution of the BRICS Business Council and Business Forum to strengthening our economic cooperation in infrastructure, manufacturing, energy, agriculture, financial services, e-commerce, alignment of technical standards and skills development. We welcome the establishment of a working group on regional aviation within the framework of the Business Council and in this connection acknowledge the Brazil's proposal on an MOU on regional aviation partnership. We encourage business communities and associations to actively participate in BRICS cooperation, and give full play to their role as trade and investment facilitation institutions in promoting mutually beneficial cooperation.

23. We recognize the importance of transformation that is taking place in the labor market and the opportunities and challenges it brings. We note with satisfaction the progress in BRICS cooperation with regard to human resources, employment and social security, fostering strong labor market information systems and networking of BRICS of Labor Research Institutes and BRICS Social Security Cooperation Framework. We welcome the achievement of a BRICS common position on governance in the future of work and agree to further strengthen exchanges and cooperation in ensuring full employment, promoting decent work, advancing poverty alleviation and reduction through skills development and achieving universal and sustainable social security systems.

24. We recognize the importance of competition protection to ensure the efficient social and economic development of our countries, to stimulate innovative processes and to provide quality products to our consumers. We note the significance of the interaction between the Competition Authorities of our countries, in particular, in identifying and suppressing restrictive business practices that are of a transboundary nature.

25. We note with satisfaction the progress made by Customs Administrations in their cooperation on trade facilitation, security and enforcement, capacity building and other issues of mutual interest, including through such mechanisms as BRICS Customs Cooperation Committee and BRICS Customs Working Group. We encourage broadened cooperation under the guiding principles of mutual sharing of information, mutual recognition of customs control, and mutual assistance in enforcement so as to boost growth and promote people's welfare. In order to strengthen mutual cooperation in customs matters, we reaffirm our commitment to finalize BRICS Customs Mutual Assistance Agreement at the earliest.

26. We adhere to the principle of utilizing outer space for peaceful purposes and emphasize the need to strengthen the international cooperation in space activities in order to use space technologies to respond to global climate change, environmental protection, disaster prevention and relief and other challenges faced by humankind.

27. Recalling the Saint-Petersburg and Udaipur Declarations of BRICS Ministers for Disaster Management and the decision to establish a BRICS Joint Taskforce on Disaster Risk Management, we underline the importance of consistent joint work of emergency services of BRICS countries aimed at building a safer future by reducing existing disaster risks, including exchange of information on best practices concerning disaster risk management and cooperation in the field of forecasting and early warning for effective response to natural and human induced disasters.

28. We note with satisfaction the progress in BRICS cooperation in such fields as audit, statistics and export credit and agree to further advance cooperation in these fields.

Global Economic Governance

29. We resolve to foster a global economic governance architecture that is more effective and reflective of current global economic landscape, increasing the voice and representation of emerging markets and developing economies. We reaffirm our commitment to conclude the IMF's 15th General Review of Quotas, including a new quota formula, by the 2019 Spring Meetings and no later than the 2019 Annual Meetings. We will continue to promote the implementation of the World Bank Group Shareholding Review.

30. We emphasize the importance of an open and resilient financial system to sustainable growth and development, and agree to better leverage the benefits of capital flows and manage the risks stemming from excessive cross-border capital flows and fluctuation. The BRICS CRA represents a milestone of BRICS financial cooperation and development, which also contributes to global financial stability. We welcome the establishment of the CRA System of Exchange in Macroeconomic Information (SEMI), and the agreement to further strengthen the research capability of the CRA, and to promote closer cooperation between the IMF and the CRA.

31. We welcome the establishment of the NDB Africa Regional Center launched in South Africa, which is the first regional office of the Bank. We welcome the setting up of the Project Preparation Fund and the approval of the 2nd batch of projects. We congratulate the Bank on the ground-breaking of its permanent headquarters building. We stress the significance of infrastructure connectivity to foster closer economic ties and partnerships among countries. We encourage the NDB to fully leverage its role and enhance cooperation with multilateral development institutions including the World Bank and the Asian Infrastructure Investment Bank as well as with the BRICS Business Council, to forge synergy in mobilizing resources and promote infrastructure construction and sustainable development of BRICS countries.

32. We emphasize the importance of an open and inclusive world economy enabling all countries and peoples to share in the benefits of globalization. We remain firmly committed to a rules-based, transparent, non-discriminatory, open and inclusive multilateral trading system as embodied in the WTO. We reaffirm our commitments to ensure full implementation and enforcement of existing WTO rules and are determined to work together to further strengthen the WTO. We call for the acceleration of the implementation of the Bali and Nairobi MCM outcomes and for the WTO ministerial conference to be held this year in Argentina to produce positive outcomes. We will continue to firmly oppose protectionism. We recommit to our existing pledge for both standstill and rollback of protectionist measures and we call upon other countries to join us in that commitment.

33. Valuing the G20's continued role as the premier forum for international economic cooperation, we reiterate our commitments to the implementation of the outcomes of G20 summits, including the Hamburg Summit and the Hangzhou Summit. We call upon the G20 to further enhance macroeconomic policy coordination to minimize negative spillovers and external shocks to EMDEs. We agree to enhance coordination and cooperation under the Argentina Presidency in 2018, with an aim to make the G20 process and outcomes reflect the interests and priorities of EMDEs.

34. We reaffirm our commitment to achieving a fair and modern global tax system and promoting a more equitable, pro-growth and efficient international tax environment, including to deepening cooperation on addressing Base Erosion and Profit Shifting (BEPS), promoting exchange of tax information and improving capacity-building in developing countries. We will strengthen BRICS tax cooperation to increase BRICS contribution to setting international tax rules and provide, according to each country's priorities, effective and sustainable technical assistance to other developing countries.