Dear Mr. M. Rasgotra, President of ORF Centre for International Affairs,

　　Dear Foreign Secretary Mr. Shiv Shankar Menon,

　　Excellencies,

　　Ladies and Gentlemen,

　　I am very glad to be invited to make a short remark at the inaugural session of this preparatory meeting. I would like to take the opportunity to express my appreciation to the Observer Research Foundation (ORF), with the support of the Ministry of External Affairs of India, for its efforts to bring together a group of eminent experts and policymakers from BRIC countries to make a preparation for the upcoming BRIC Summit as well as brainstorm on relevant issues of common concern.

　　Nowadays, BRIC has become a buzz-word, representing the emergence of a changing global reality. The four fast emerging economies, Brazil, Russia, India and China are now connected more than ever. And the expectations on their collective role run high among the international community. It is the call of the time that the four countries should join their efforts to make contributions to the world, especially against the backdrop of the on-going global financial crisis.

　　As we know that the BRIC Summit to be convened in Yekaterinburg in the coming June will be the first of its kind. It signifies a new stage of development of this unique institution. We hope this preparatory meeting will produce interesting, insightful, and innovative ideas and propositions, so as to help our leaders to deliver a successful and fruitful Summit. We also hope this kind of dialogues and interactions can become regular events in the future.

　　It is happy to see that BRIC has developed into an increasingly important and meaningful institution in a relatively short span of time. It has already served many meaningful purposes.

　　First, BRIC is a mechanism that can play a crucial role in tackling the urgent international issues, especially economic issues. It has become a consensus view that in today's world no single country or even a group of countries can successfully handle the challenges the world is facing. During the time of past one year, the BRICs countries have already demonstrated their role in both domestic front and international front in fighting against the financial crisis and worked for common interests of the international community. It is of my view that against the backdrop of the global financial crisis, the four countries should further explore effective ways and means to strengthen their cooperation in the economic, financial fields and complement each other by tapping respective potentials in order to minimize the negative effects of the crisis and to ensure stable and sustainable development at home. At the same time, they should join their efforts to push for the reform of international economic and financial system as well as relevant international institutions within the framework of, such as G20, with a view to increase their rights in decision making and policy making process. With an aggregate GDP accounting for 13% of the global total and more than 40% of the world population, BRICs also share concern over food and energy safety, climate changes, infectious diseases and other non-traditional threats. Together four countries will have a great capacity to influence the international political situation, global security and world economic order.

　　Second, BRIC is a guardian of the interests of developing countries. As a grouping of the newly emerging economies, four countries share a lot in common with other developing countries. We should work for the common good of the developing countries which is also the wish of other developing countries. The four countries enjoy considerable influences over the world affairs and have the capacity and moral responsibility to represent for and safeguard the interests of all developing countries.

　　Third, BRICs is a platform for four countries to build consensus and achieve win-win situation. Like any countries, four countries may have difference in their focus, objectives and even interests on various issues. But interactions within the framework of BRIC can provide the four with opportunities to coordinate and cooperate with each other to build synergy between them. In fact, BRIC countries have more common grounds and interests than difference. The effective coordination before the G20 London Summit has ensured BRICs and other developing countries to achieve their objectives. So long as they can work in a frank and friendly spirit and be sensitive to the interests and aspirations of each party, we will be able to achieve consensus on our common cause and contribute to the enhancement of bilateral relations amongst the four countries as well. It is my belief that with strong political will, effective coordination, and consorted action, BRIC can generate greater influential on the world affairs.

　　Fourth, BRIC is an evolving institution. BRIC is still at its early stage of development. It requires care and support. We believe the institutionalization of BRIC can better serve the long-term interests of the four countries. With the momentum of BRIC being built up, a number of countries have expressed keen interest to be part of the grouping. We should maintain an open-minded and proactive attitude toward the development of BRIC. We hope as time goes by we will be able to define its missions, areas for cooperation, organizational structure, development road map in a step by step manner. In this regard track II can make its invaluable inputs.

　　Ladies and Gentlemen,

　　It is encouraging to see that with the joint efforts of four countries, BRIC has demonstrated its value, strength and potentials to the international community. It has acquired increasing weight in international affairs and become an important institution to be reckoned with. What's more, it is going to make further contributions to the world peace and development and for the well being of four countries and the world as a whole. I am sure the upcoming summit will further lift the status of BRIC in the world stage. China attaches great importance to the BRIC and will work closely with the other three countries to advance its cause. It is our hope that the track II can make its due contribution to the success of the of the Summit meeting and to the future development of BRICs.

　　Having said these, I sincerely wish this preparatory meeting a great success.

　　Thanks.