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Highlights of BRIC summit joint statement

Tue Jun 16, 2009 9:27pm IST
 
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YEKATERINBURG, Russia (Reuters) - Brazil, Russia, India and China concluded their first formal summit as the "BRIC" bloc of emerging economic powers on Tuesday, issuing a joint statement calling for deeper international economic reform.

Here are highlights from that statement:

INTERNATIONAL FINANCIAL REFORM

"We are committed to advance the reform of international financial institutions, so as to reflect changes in the world economy. The emerging and developing economies must have greater voice and representation in international financial institutions, and their heads and senior leadership should be appointed through an open, transparent and merit-based selection process. We also believe there is a strong need for a stable, predictable and more diversified international monetary system."

TRADE AND THE DOHA ROUND OF TRADE TALKS

"We recognise the important role played by international trade and foreign investments in the world economic recovery ... We urge the international community to keep the multilateral trading system stable, curb trade protectionism, and push for comprehensive and balanced results of the WTO's Doha Development Agenda."

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