Full text of President Xi's address to BRICS Business Forum

Economic cooperation is the foundation of the BRICS mechanism. With this focus in mind, we should implement the Strategy for BRICS Economic Partnership, institutionalize and substantiate cooperation in various sectors, and continue to enhance the performance of BRICS cooperation. This year, we have made progress in the operation of the New Development Bank and Contingent Reserve Arrangement, and in e-commerce, trade and investment facilitation, trade in services, local currency bond issuance, scientific and technological innovation, industrial cooperation and public-private partnership, thus expanding and intensifying economic cooperation. We should continue to implement agreements and consensus already reached and better leverage the role of current mechanisms. We should also actively explore new ways and new areas of practical cooperation and strengthen our ties to ensure durable and fruitful BRICS cooperation.

Secondly, we BRICS countries should shoulder our responsibilities to uphold global peace and stability. Peace and development underpin and reinforce each other. People around the world want peace and cooperation, not conflict or confrontation. Thanks to the joint efforts of all countries, global peace has reigned for more than half a century. However, incessant conflicts in some parts of the world and hotspot issues are posing challenges to world peace. The intertwined threats of terrorism and lack of cybersecurity, among others, have cast a dark shadow over the world.

We BRICS countries are committed to upholding global peace and contributing to the international security order. This year, we have held the Meeting of High Representatives for Security Issues and the Meeting of Ministers of Foreign Affairs/International Relations. We have put in place the regular meeting mechanism for our permanent representatives to the multilateral institutions, and convened the Foreign Policy Planning Dialogue, the Meeting of Counter-Terrorism Working Group, the Meeting of Cybersecurity Working Group, and the Consultation on Peacekeeping Operations. These efforts aim to strengthen consultation and coordination on major international and regional issues and build synergy among the BRICS countries. We should uphold the purposes and principles of the UN Charter and basic norms governing international relations, firmly support multilateralism, work for greater democracy in international relations, and oppose hegemonism and power politics. We should foster the vision of common, comprehensive, cooperative and sustainable security, and take a constructive part in the process of resolving geopolitical hotspot issues and make our due contributions.

I am convinced that as long as we take a holistic approach to fighting  terrorism in all its forms, and address both its symptoms and root causes, terrorists will have no place to hide. When dialogue, consultation and negotiation are conducted to create conditions for achieving political settlement of issues such as Syria, Libya and the Palestine-Israel conflict, the flame of war can be put out, and displaced refugees will eventually return to their homes.

Thirdly, we BRICS countries should contribute to enhancing global economic governance. Only openness delivers progress, and only inclusiveness sustains such progress. Due to sluggish global growth in recent years, such issues as uneven development, inadequate governance and deficit of fairness have become more acute, and protectionism and inward-looking mentality are on the rise. The global economy and global economic governance system, having entered a period of adjustment, face new challenges.