Leaders of five BRICS countries, Brazil, Russia, India, China and South Africa, released on Thursday a joint document, Sanya Declaration, at the BRICS Leaders Meeting in south China's resort city of Sanya.
The following is the full text of the document.
Sanya Declaration
(BRICS Leaders Meeting, Sanya, Hainan, China, 14 April 2011)
1. We, the Heads of State and Government of the Federative Republic of Brazil, the Russian Federation, the Republic of India, the People's Republic of China and the Republic of South Africa, met in Sanya, Hainan, China for the BRICS Leaders Meeting on 14 April 2011.
2. The Heads of State and Government of Brazil, Russia, India and China welcome South Africa joining the BRICS and look forward to strengthening dialogue and cooperation with South Africa within the forum.
3. It is the overarching objective and strong shared desire for peace, security, development and cooperation that brought together BRICS countries with a total population of nearly 3 billion from different continents. BRICS aims at contributing significantly to the development of humanity and establishing a more equitable and fair world.
4. The 21st century should be marked by peace, harmony, cooperation and scientific development. Under the theme "Broad Vision, Shared Prosperity", we conducted candid and in-depth discussions and reached broad consensus on strengthening BRICS cooperation as well as on promoting coordination on international and regional issues of common interest.
5. We affirm that the BRICS and other emerging countries have played an important role in contributing to world peace, security and stability, boosting global economic growth, enhancing multilateralism and promoting greater democracy in international relations.
"Excessive volatility in commodity prices, particularly those for food and energy, poses new risks for the ongoing recovery of the world economy," said the joint statement released after BRICS Summit said here.
The declaration also highlighted issues concerning excessive capital flows to emerging nations. "We call for more attention to the risks of massive cross-border capital flows now faced by the emerging economies", it added.
The statement was issued after the Summit, which was attended by Indian Prime Minister Manmohan Singh , Russian President Dmitry Medvedev , Chinese President Hu Jintao, Brazil's Dilma Rousseff and South Africa's Jacob Zuma .
BRICS which is a grouping of Brazil, Russia, India, China and South Africa represents 3 billion people from different continents of the world and account for 18 per cent of the global GDP.
Early this week, the International Monetary Fund ( IMF )) too had warned that rising food and commodity prices pose a threat to poor households, adding to social and economic tensions, notably in the Middle East and North Africa.
"The international community should work together to increase production capacity, strengthen producer-consumer dialogue to balance supply and demand, and increase support to the developing countries in terms of funding and technologies", it added.
BRICS also called for a mechanism to address the problem of inadequate reliable and timely information on demand and supply at international, regional and national levels.
"The BRICS will carry out closer cooperation on food security," the statement added.
Noting the world economy still faces "uncertainties", the declaration, stressed that the international community needed to step up efforts to reduce distortion, further regulate financial market and promote sound banking systems.
The following is the full text of the document.
Sanya Declaration
(BRICS Leaders Meeting, Sanya, Hainan, China, 14 April 2011)
1. We, the Heads of State and Government of the Federative Republic of Brazil, the Russian Federation, the Republic of India, the People's Republic of China and the Republic of South Africa, met in Sanya, Hainan, China for the BRICS Leaders Meeting on 14 April 2011.
2. The Heads of State and Government of Brazil, Russia, India and China welcome South Africa joining the BRICS and look forward to strengthening dialogue and cooperation with South Africa within the forum.
3. It is the overarching objective and strong shared desire for peace, security, development and cooperation that brought together BRICS countries with a total population of nearly 3 billion from different continents. BRICS aims at contributing significantly to the development of humanity and establishing a more equitable and fair world.
4. The 21st century should be marked by peace, harmony, cooperation and scientific development. Under the theme "Broad Vision, Shared Prosperity", we conducted candid and in-depth discussions and reached broad consensus on strengthening BRICS cooperation as well as on promoting coordination on international and regional issues of common interest.
5. We affirm that the BRICS and other emerging countries have played an important role in contributing to world peace, security and stability, boosting global economic growth, enhancing multilateralism and promoting greater democracy in international relations.
"Excessive volatility in commodity prices, particularly those for food and energy, poses new risks for the ongoing recovery of the world economy," said the joint statement released after BRICS Summit said here.
The declaration also highlighted issues concerning excessive capital flows to emerging nations. "We call for more attention to the risks of massive cross-border capital flows now faced by the emerging economies", it added.
The statement was issued after the Summit, which was attended by Indian Prime Minister Manmohan Singh , Russian President Dmitry Medvedev , Chinese President Hu Jintao, Brazil's Dilma Rousseff and South Africa's Jacob Zuma .
BRICS which is a grouping of Brazil, Russia, India, China and South Africa represents 3 billion people from different continents of the world and account for 18 per cent of the global GDP.
Early this week, the International Monetary Fund ( IMF )) too had warned that rising food and commodity prices pose a threat to poor households, adding to social and economic tensions, notably in the Middle East and North Africa.
"The international community should work together to increase production capacity, strengthen producer-consumer dialogue to balance supply and demand, and increase support to the developing countries in terms of funding and technologies", it added.
BRICS also called for a mechanism to address the problem of inadequate reliable and timely information on demand and supply at international, regional and national levels.
"The BRICS will carry out closer cooperation on food security," the statement added.
Noting the world economy still faces "uncertainties", the declaration, stressed that the international community needed to step up efforts to reduce distortion, further regulate financial market and promote sound banking systems.
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