A common saying · Let’s work together to achieve great results丨 “Work together to write a new chapter of high-quality development of the ‘Greater BRICS Cooperation’”

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In northern Mumbai, the launch of urban rail services has significantly alleviated local traffic congestion. In northeastern Brazil, abundant wind energy resources are being harnessed to convert into green electricity, illuminating cities. Meanwhile, accelerated road construction projects in regions like Guangxi and Anhui, China are paving the way for rapid economic growth. All these initiatives are funded by the New Development Bank, which is operated by emerging economies and developing nations. As a key milestone in the BRICS cooperation mechanism, the New Development Bank is expanding the multilateral cooperation initiated by BRICS nations through mutually beneficial infrastructure projects.

At the end of August of this year, the New Development Bank signed a loan agreement worth 5 billion rand with a South African transportation company aimed at modernizing the local freight railway sector. By financing development projects in South Africa using its own currency, the rand, the New Development Bank is exploring new avenues to support and promote local currency financing among its member nations. This approach aligns more closely with the interests of emerging market nations and developing countries, while also enhancing their financial resilience.

The BRICS nations are demonstrating a strong commitment to efficient, pragmatic, and mutually beneficial cooperation, continuously writing new chapters in South-South collaboration. They are taking solid steps toward improving global governance.

From October 22 to 24, the 16th BRICS Leaders’ Meeting took place in Kazan, Russia. This marked the first in-person gathering of leaders following the recent expansion of the BRICS family and garnered notable attention.

During the meeting, Chinese President Xi Jinping delivered an important speech on October 23, introducing five key points under the themes of “Peaceful BRICS,” “Innovative BRICS,” “Green BRICS,” “Fair BRICS,” and “Cultural BRICS.” He expressed China’s sincere desire to foster a new phase of high-quality development in “Big BRICS Cooperation” alongside BRICS member states, while also hoping to collaborate with more countries in the Global South to build a community with a shared future for humanity.

Given the profound and complex changes unfolding in the international environment and economic order, the inclusive and cooperative spirit of “BRICS” is becoming increasingly valuable. It has received widespread support from numerous emerging market nations and developing countries.

The BRICS organization continues to deepen strategic trust, practical cooperation, and international collaboration while strengthening unity with Global South nations to promote peaceful development. This collective effort is pivotal in fostering a more equitable and orderly multipolar world and inclusive economic globalization. The BRICS nations now account for over one-fifth of global trade. According to recently released data from the General Administration of Customs of China, during the first three quarters of this year, China’s trade with other BRICS countries reached 4.62 trillion yuan, a year-on-year increase of 5.1%, achieving trade complementarity across various sectors, including industry and agriculture.

Using the New Development Bank, which President Xi has actively supported, as an example: by mid-2023, the bank had provided approximately $36 billion for around 108 projects across BRICS nations, covering infrastructure, clean energy, environmental protection, and digital infrastructure. This includes initiatives to provide clean and safe drinking water to remote areas in South Africa and stabilize power supply for energy-deficient regions in Brazil through the “North-to-South Electricity Transmission” project.

With a vision for the future, amid the complex and turbulent international landscape, the BRICS community must leverage the “BRICS+” cooperation platform. By strengthening solidarity and collaboration, they can enhance mutual understanding and trust, seek common development, and write a new chapter in high-quality development for “Big BRICS Cooperation,” steering global governance reforms toward a more equitable and just direction while injecting certainty and positive energy into the world.