Brazilian Foreign Minister Aloysio Nunes says BRICS needs to play a larger role in the promotion of global trade and investment.
"We need to remove obstacles and barriers to facilitate more free trade. We need to take practical steps to promote trade facilitation. As for investment, we should make rules within the BRICS grouping to promote investment among each other, so we can boost integration in production. We should make rules to secure the legal rights of investors, especially now."
Russian Foreign Minister Sergey Lavrov says BRICS is taking-on a larger role in global governance, which he suggests is needed at a time when the world's political dynamic is changing.
"We are seeking reforms of an outdated international economic governance system which cannot meet the requirements of the international markets. Important steps in this direction have become part of the implementation of the UFA strategy for BRICS economic partnership, the new development bank and creating the contingency reserve arrangement. These are steps that truly help modernize the global governance architecture."
As part of their meeting, the foreign ministers have also exchanged views on a wide range of political and security issues, as well as issues surrounding climate change and anti-terrorism.
Chinese Foreign Minister Wang Yi says BRICS can set the pace for a more streamlined international order.
"BRICS countries will continue to enhance multi-polarity and democracy in international relations, promote the development of international order, and create systems to make global governance in a more equitable and reasonable direction. We need to promote more BRICS wisdom and BRICS solutions to help the progress of our human society. In this way, we will play a positive and constructive role for the building of a community of shared future for mankind."
The foreign ministers have also reiterated their commitment to helping make the next BRICS Summit a success.
That meeting is due to be held in the city of Xiamen in Fujian in September.
For CRI, this is Xie Cheng.