Kathmandu. Chinese President Xi Jinping has proposed five important initiatives for ‘Extended BRICS’ cooperation in the fields of artificial intelligence (AI), trade and investment facilitation, digital industry, smart manufacturing and talent development.

Addressing the second day of the BRICS Summit in New Delhi, President Xi stressed that the expanded BRICS should play a more effective role in the world, achieve further development and build a strong foundation for practical cooperation.

He said that the ‘Expanded BRICS’ should make effective use of its characteristics based on emerging markets and closely linked to the Global South. He also

stressed the need to continue openness and cooperation for mutual benefit and common win.

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President Xi said that the development of integrated market should be promoted by keeping the industrial and supply chains stable and uninterrupted.

According to him, ‘Extended BRICS’ needs to establish incubators for innovation, upgrade traditional industries, develop emerging industries and make a visionary plan for future industries.

Stating that emerging technologies could illuminate the path to shared prosperity, President Xi called for further strengthening the collaboration based on technology, innovation and talent development.