BRIC finance ministers coordinate during the financial crisis

The declaration reaffirmed solidarity and a stronger voice for developing countries in global economic governance.

The plan detailed steps to strengthen South–South cooperation after the summit’s declaration.

Ministers of Brazil, Russia, India and China met alongside the UN General Assembly. Their political dialogue turned an economic acronym into a forum for diplomatic coordination.

At their first separate ministerial meeting, the four governments called for multilateral decision making, international law and cooperation on development.

The four leaders met on the margins of the G8 summit in Japan, preparing the way for a stand-alone BRIC summit.

The Horsham communiqué addressed fiscal and financial responses and the need for developing economies to be better represented in international institutions.

Brazil, Russia, India and China held their first formal leaders’ summit amid the financial crisis and called for a more representative world economic order.

The leaders called for reform of international financial institutions, a greater voice for emerging economies and a more diversified monetary system.

At their first meeting in Moscow, agriculture ministers gave particular attention to family farming and food security.

The four leaders met to advance coordination on global governance, trade, development and responses to the financial crisis.