The leaders of China, India, Brazil, South Africa and Mexico Tuesday reaffirmed their commitment to a stable and orderly international financial system and called for a just, open, reasonable and non-discriminatory trade system.

In a declaration issued at the end of their group meeting held in Sapporo Tuesday, the leaders said the global economy continues to expand, but at a slower rate than in previous years.

"Most emerging and developing economies have proved resilient so far to adverse circumstances. Nevertheless, the international community as a whole faces important policy changes to maintaining financial stability and mitigating global economic risks. Headline inflation is of particular concern," the declaration said.

"We reaffirm our commitment to the establishment of a stable and orderly international financial system, more transparent and legitimate," it said.

"The voice and representation of developing countries in the decision making of international financial institutions should be significantly improved, especially at the International Monetary Fund and the World Bank," the declaration said.

"Given current global macroeconomic imbalances, it is essential to enhance policy coordination not only among advanced economies but also with emerging market economies, including by reinforcing existing multilateral mechanisms for coordination," it said.

"The Financial G-20 is an appropriate forum for this endeavor," the five-nation declaration suggested.

"The global financial architecture and its surveillance capacities must be also strengthened to continue the prevention and resolution of potential financial crises, but more importantly, to support sustainable development," it said.

"In particular, it is necessary to provide international financial institutions with an adequate array of instruments to preserve global financial stability and smoothen the supply shocks derived from higher food and oil prices, especially in support of least developed and middle income countries," the declaration said.

"The world economic outlook lends urgency to the establishment of a just, open, reasonable and non-discriminatory international trade system," it said.

"It is essential to achieve an early conclusion to the Doha Round that fully supports development in accordance with its agreed mandate," said the declaration.

"Developed countries must dismantle barriers and distortions, especially agriculture subsidies and domestic support that affect the overall efforts of developing countries," it said.

"This would provide a much needed impetus to global economic growth and would positively contribute to an enabling environment for development," the declaration said.

Chinese President Hu Jintao arrived in Sapporo, capital of Hokkaido, Monday for the Outreach Session of the Group of Eight (G8) Summit, slated for Wednesday in the northern Japanese resort of Toyako.