The first BRICS Friendship Cities and Local Governments Cooperation Forum opens Friday in the beach-side resort of Sanya, focusing on deepening cooperation between the world's five major emerging economies.
Politicians, scholars and business people from the five BRICS countries — Brazil, Russia, India, China and South Africa — will meet at the two-day forum to foster further communications and discuss shared concerns amid global uncertainties.
The decision to hold this forum was announced at the BRICS summit in April this year, when leaders of the five nations jointly issued a declaration to seek shared prosperity.
Under the theme of "Broad Vision, Shared Prosperity, Developing Friendship Cities, Promoting Cooperation," the forum is expected to bring together BRICS cities with regular meetings to foster closer ties and boost local-level cooperation.
The term of BRIC was coined by Goldman Sachs economist Jim O'Neil in 2001 to group four fast-growing economies — Brazil, Russia, India and China.
Formally established in June 2009, BRIC became BRICS when South Africa was inducted into the group during a summit held in Sanya, China, in April 2011.
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