Russia: BRICS have huge potential to deepen economic relations - Xi Jinping

BRICS countries have huge potential to deepen economic cooperation within the group, Chinese President Xi Jinping said at the seventh BRICS summit in Ufa, Thursday. Speaking at a meeting of the BRICS leaders and members of the BRICS Business Council, Xi expressed his hope to see more joint business projects emerge through the council's work. Later the leaders of Brazil, Russia, India, China and South Africa are expected to discuss further cooperation between the countries of the bloc, particularly within the context of the newly-formed New Development Bank (NDB). The BRICS summit comes ahead of the 15th meeting of the Council of Heads of State of the Shanghai Cooperation Organisation (SCO) on July 9 and 10, also taking place in Ufa. In total, 10,000 visitors are expected at the two events.