World's Energy

RIO DE JANEIRO, June 15, 2009 (RIA Novosti) - A meeting of BRIC (Brazil, Russia, India, China) leaders in Yekaterinburg should lay the groundwork for a new level of cooperation between the countries, the Brazilian president said. "The BRIC summit in Yekaterinburg opens a new stage in political dialogue and diplomatic interaction between our four countries," Luiz Inacio Lula da Silva said in an interview with RIA Novosti ahead of the summit, which opens on Tuesday. He said the countries were playing an increasingly prominent role in international affairs, and showing readiness to assume responsibilities in proportion to their standing in the modern world. "In the case of Brazil, we reaffirmed this readiness by granting a $10 billion loan to the International Monetary Fund," the president said. He said Brazil's economic cooperation with other three countries has been steadily rising. "Brazil's total trade with the other three countries of the bloc in 2008 was $49 billion, almost 500% more than in 2003," Lula da Silva said. He added that there was also strong potential for cooperation in investment, technology, and culture.