Russia hails South Africa's accession to BRIC

16:19, 30 December 2010

MOSCOW. December 30. KAZINFORM Moscow on Wednesday hailed South Africa's accession to BRIC, a grouping of major emerging economies that previously includes Brazil, Russia, India and China; Kazinform refers to Xinhua.

Russia's Foreign Ministry said in a statement that as a " leading African country", South Africa's entry to BRIC is "in line with sustainable trends of global development, including the emergence of a polycentric international system."

"The entry of (South Africa), an active participant in the G20 and the largest economic power in Africa, will not only increase the total economic weight of our association but also will help build up opportunities for mutually beneficial practical cooperation within BRIC," the ministry said, as quoted by Interfax news agency.

BRIC is a term coined by Goldman Sachs economist Jim O'Neill in 2001 to describe the growing influence of large emerging economies; Kazinform cites Xinhua.

See www.xinhuanet.com/english2010 for full version

World News