The BRICS (Brazil-Russia-India-China-South Africa) block has taken a similar approach to the governance of the global economy and the mutual cooperation among the member countries has helped in useful contribution to the post-Covid economic recovery, Prime Minister Narendra Modi said on Thursday.

The five-nation annual BRICS summit, hosted by China this year, kicked off today.  

“''Regarding the governance of the global economy, we BRICS member countries have a very similar approach. And so our mutual cooperation can make a useful contribution in the global post-COVID recovery,'' Prime Minister Narendra Modi said at BRICS summit,” Modi said in the presence of Chinese President Xi Jinping and Russian President Vladimir Putin. Brazilian President Jair Messias Bolsonaro and South African President Cyril Ramaphosa were also present at the virtual summit.

Modi, in his opening statement at the 14th BRICS summit, also said that though the Covid 19 pandemic is not as severe as it was, its adverse impact on the economy is continuing.

The Prime Minister also said that the contours of the BRICS framework were further strengthened.

The people to people contact have also improved among the BRICS members, he said, noting that the International Yoga Day was observed in all the BRICS countries.

“There are multiple areas wherein through cooperation between BRICS nations, the citizens have benefitted,” he said.

Earlier, addressing the regular press conference, Wang Wenbin, Chinese Foreign Ministry Spokesperson said that BRICS is an important platform for cooperation among emerging markets and developing countries and that BRICS countries have become engines driving world economic recovery and growth.

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