Chinese president attends BRICS summit in Russia's Ufa

UFA, Russia -- Chinese President Xi Jinping attended the seventh BRICS summit in the southwestern Russian city of Ufa on Thursday.

It is the third time for Xi to attend the annual summit of the emerging-market bloc that groups Brazil, Russia, India, China and South Africa.

Russian President Vladimir Putin, Brazilian President Dilma Rousseff, Indian Prime Minister Narendra Modi and South African President Jacob Zuma also attended this year's meeting, which is themed "BRICS partnership: A powerful factor for global development."

The five leaders are expected to exchange views on enhancing cooperation among BRICS countries and on international and regional issues of common concern. Their consensuses will be included in the Ufa Declaration issued afterwards.

The BRICS leaders are also to hold dialogues with leaders from member states and observer states of the Shanghai Cooperation Organization and the Eurasia Economic Union, joined by heads of international agencies and representatives of the BRICS Business Council.

According to Chinese Vice Foreign Minister Cheng Guoping, the BRICS leaders will draft a blueprint for economic and trade cooperation of the bloc by passing a "BRICS Economic Partnership Strategy."

China looks forward to positive outcomes on issues concerning the BRICS New Development Bank (NDB), a contingent reserve arrangement, the China-proposed Belt and Road initiative, as well as the Asian Infrastructure Investment Bank, said Cheng.

By Tuesday, all member countries had ratified the agreement to build the NDB and deposited their share of the initial capital.

The bank will begin operation in January 2016. The priority projects to be financed are expected to be reviewed at the summit.