BRIC summit calls for overhaul of global governance

Leaders of the BRIC countries - Brazil, Russia, India and China - who met at their second summit in the Brazilian capital Brasilia, have called for major transformations in all relevant areas of global governance in tune with changing scenario.

The leaders underlined their support for a multipolar, equitable and democratic world order, based on international law, equality, mutual respect, cooperation, coordinated action and collective decision-making of all states.

BRIC countries stressed the role of the G-20 in combating the global financial crisis through unprecedented levels of coordinated action and welcomed the due recognition it received. G-20 is now the premier forum for international economic coordination and cooperation and it is broader, more inclusive, diverse, representative and effective.

"We advocate the need for the G-20 to be proactive and formulate a coherent strategy for the post-crisis period. We stand ready to make a joint contribution to this effort," they said in their joint declaration.

BRIC reaffirmed the need for a comprehensive reform of the United Nations, with a view to making it more effective, efficient and representative, so that it can deal with today's global challenges more effectively.

In this context, they stressed the importance of the status of India and Brazil in international affairs and their due role in the UN.