This year's BRICS summit has drawn to a close in the southeastern Chinese city of Xiamen with a significant number of practical achievements made during the sessions.
Chinese President Xi Jinping, who chaired the BRICS Xiamen Summit, has met the press to cap off this year's BRICS summit.
Xi Jinping says the leaders of Brazil, Russia, India, China and South Africa have reached consensus on a number of key issues including the current international situation, global governance and BRICS cooperation.
"During the Xiamen summit, the BRICS leaders have adopted the BRICS Leaders Xiamen Declaration, and are calling for an open, cooperative and inclusive spirit of BRICS cooperation. The leaders also have summarized the successful BRICS cooperation over the past decade, providing a blueprint to enhance the BRICS partnership, as well as practical cooperation," said Xi.
China holds the BRICS rotating presidency this year.
Xi Jinping notes that new progress in BRICS institutional building has been made this year, including the first formal foreign minsters' meeting, as well as regular consultations among the UN permanent representatives of BRICS countries.
"In additional to these examples, we've also set up new programs including a model e-port network, a working group on e-commerce, as well as alliances of museums, art galleries, and libraries. These new mechanisms will help deepen political, economic, and cultural cooperation," said Xi.
Chen Fengying, former Director of the Institute for the World Economy with the China Institutes of Contemporary International Relations says this year's BRICS Summit in Xiamen has created unprecedented practical achievements.
"Economic cooperation has become more practical. The political cooperation has also expanded. For example, security cooperation has been institutionalized for the first time. Cultural cooperation also has seen expansion, including the establishment of an industry alliance, the BRICS Games and a BRICS film festival. All of the achievements have put Xi Jinping's view on practical BRICS cooperation into practice," said Chen.
Wang Yizhou, Deputy Dean of the School of International Studies at Peking University, says he has confidence in the future development of BRICS.
"When we face difficulties on international relations which could hurt China or damage the relationship among BRICS countries, BRICS can help us to avoid a crisis and overcome barriers to agreements," said Wang.
The original BRIC grouping of Brazil, Russia, India and China was formally established in 2006.
In 2010, South Africa joined the group, amending the acronym to BRICS.
The next BRICS summit will be held in Johannesburg, South Africa, next year.