China conveys invitation for South Africa to join BRIC

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.

The joint statement called for a multipolar and more equitable world order, greater representation in international finance and continued cooperation against poverty.

After the invitation, South Africa became the fifth member and the forum adopted the name BRICS. Its entry gave Africa a direct place in the leaders’ meetings.

Ministers met in Sanya before the summit, opening a regular forum for trade policy and economic cooperation.

The Sanya summit formally welcomed South Africa in the leaders’ forum and stressed solidarity, development and broader dialogue with emerging and developing countries.

BRICS leaders asked for more representative international institutions, including the UN Security Council, and stronger developing-country voices in economic governance.

Health ministers proposed cooperation and technology transfer to improve access to affordable medicines and other public-health goods.