16 Jun 2009 17:30

Russia, Brazil: BRIC summit good chance to develop partnership

YEKATERINBURG. June 16 (Interfax) - The first BRIC summit provides a good chance to strengthen mutual understanding and cooperation between Brazil, Russia, India and China, President Dmitry Medvedev said.

"Life is difficult. Strategic partners like BRIC members must meet more often and seek broader trade and economic relations," Medvedev told Brazilian President Luiz Inacio Lula da Silva before the beginning of the BRIC summit on Tuesday.

Lula da Silva agreed that the BRIC summit and the bilateral meeting are "a good opportunity to strengthen and further develop mutual partnership."

"The crisis is compelling us to act more bravely," the Brazilian president said.

Mutual investments must expand, too, he said.

The first full-format BRIC summit, involving Russian President Dmitry Medvedev, Brazilian President Luiz Inacio Lula da Silva, Chinese leader Hu Jintao and Indian Prime Minister Manmohan Singh is been held in Yekaterinburg on Tuesday.

An agreement to hold the summit was reached by the four state leaders at a G8 summit in Japan in the summer of 2008.

BRIC is an informal association of nations, seen as the main global centers of economic growth, in which more than a half of the world's population lives.

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