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Wang Yi Meets with President of BRICS New Development Bank K.V. Kamath

On February 27, 2016, Foreign Minister Wang Yi met with President of the BRICS New Development Bank (NDB) K. V. Kamath in Shanghai before attending the signing ceremony of the agreement on the headquarters of the NDB.

Wang Yi expressed that in recent years cooperation among BRICS states has become an important platform for cooperation among emerging markets and developing countries. China hopes that the bank, as a flagship project of the BRICS cooperation, will facilitate the development of BRICS states and other developing countries by building a series of longstanding, sustainable, effective and influential projects, advancing the connectivity of all countries concerned, and promoting the international cooperation in production capacity. It is hoped that the bank will become a new type of multilateral development bank in the 21th century featuring professionalism, high-efficiency, transparency and environmental protection, and promote the improvement of and reform on the global economic governance. China will well implement the agreement on the headquarters of the NDB so as to provide full support and create a sound environment for its operation.

K.V. Kamath expressed that the NDB sincerely appreciates the great support of the Chinese government and Shanghai municipal government for its preparations and establishment. The NDB will meet the expectations of the governments and peoples of the five BRICS countries and come into operation at an early date, so as to play a positive role in promoting the development and prosperity of BRICS countries and a vast number of developing countries as well as South-South cooperation.

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