China’s tropical island has hosted the leaders of the five BRICS countries during a summit that focused on global developments and international cooperation.

The meeting was held in Sanya on Hainan Island on April 14 and consisted of small group talks and press conferences as well as a luncheon hosted by China’s President Hu Jintao.

President Hu chaired the meetings that were attended by Brazilian President Dilma Rousseff, Rusian President Dmitry Medvedev, Indian Prime Minister Manmohan Singh and South African President Jacob Zuma.

Bilateral meetings were also held to discuss issues of common concern both regionally and in the international arena.

President Hu shared his ideas on maintaining global peace and stability through common development of all countries in a speech entitled ‘Broad Vision, Shared Prosperity.’

He also insisted on the importance of strengthening BRICS relationships and reinforcing international cooperation.

Current world issues were discussed, and the five leaders of emerging economic powers issued a statement saying that the use of force in Libya and across the Arab world ‘should be avoided’.

BRICS is a grouping of Brazil, Russia, India and China with South Africa as its newest member. The third BRICS Summit aimed to help boost the world economy and bridge cooperation between developed and developing nations.

In recent years, BRICS nations have maintained regular meetings and close coordination on major international issues, particularly with economic and financial issues, and have cooperated in specific industries including agriculture, public health and scientific research and development. 

Assistant Foreign Minister Wu Hailong said that the third BRICS meeting was a sign of confidence, solidarity and cooperation to the international community, particularly to countries of the developing world.

Trade volumes for BRICS countries have increased with an annual growth rate of 28 per cent from 2001 to 2010, said Wu, highlighting the increasingly important role of these emerging economies in the world economy.

Previous BRIC summits were held in Russia in 2009 and Brazil in 2010. The summit in Hainan set the island out as a key locale in the global economic discourse. 

The island, dubbed ‘the new Phuket’, has been in the international spotlight in recent years, attracting political visitors including former Prime Minister Kevin Rudd and former US President George W. Bush who remembers Hainan as ‘that Hawaii type place, but with better golf.’