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BRICS economic cooperation promising: analyst

Xinhua | Updated: 2017-08-30 09:33

BEIJING - BRICS have broad prospects for economic cooperation and will make bigger contribution to the global economy in the future, an analyst said ahead of a business forum in early September.

"There is enormous potential for cooperation in trade, investment, finance and infrastructure among the five countries," said Jiang Zengwei, head of the China Council for the Promotion of International Trade.

Jiang cited factors including huge markets, rich natural resources, economic disparities, favorable policies and active businesses.

"Uncertainties and unstable factors exist, but opportunities outshine challenges."

BRICS Business Forum, a major side-event of BRICS Summit, is expected to gather a record 1,200 attendees in Xiamen, East China's Fujian province on Sept 3 and 4, including executives from more than 50 Fortune 500 multinationals.

The meeting will focus on global economic growth, including trade and investment, financial cooperation, connectivity, and the blue economy.

BRICS accounts for 23 percent of the world economy, 16 percent of foreign trade and 12 percent of outbound investment, and contribute to more than 50 percent of the global economic growth.

With ample room for more cooperation, the five countries will generate more growth impetus for the world, Jiang said.

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