Expanded BRICS cooperation benefits global economy: Israeli experts

Updated 2017-09-08 15:30:36 Xinhua

Israeli experts commend the BRICS bloc of five emerging economies for its seeking expanded cooperation and partnership, which they believe will benefit the global economy.

The just-concluded BRICS summit, held in the Chinese coastal city of Xiamen at a time when the bloc enters its second decade, has attracted a close attention from the Israeli political and economic circles.

The bloc grouping Brazil, Russia, India, China and South Africa is seeking to enhance cooperation in and outside it as well as to expand partnerships with especially developing countries in order to boost global growth and globalization.

Israeli Minister of Economy and Industry Eli Cohen highly agrees with the BRICS initiatives of jointly building an open global economy and establishing diverse development partnerships.

"Every nation in the world is looking forward to expanding and strengthening their economic ability," he told Xinhua Thursday. "We are a globalized world and we need to work together in order to achieve our mutual goals."

Cohen, who had visited China in March, expressed his high expectation, urging China and Israel to make further efforts to push forward the development of their innovative comprehensive relationship.

BRICS cooperation mechanism is "very clever," commented Ziva Eger, CEO of Invest in Israel -- the economic ministry's one-stop-shop for foreign investment in Israel.

"Because you need to push more and more economies all around to get involved," she said.

"Things are going right now (this way), and you cannot be able to survive and leverage yourself (if) you will stand still," she added.

In addition, during the Innovation Festival held in the Israeli city of Tel Aviv, Rick Kaplan, vice chief for the financial service and industry platform of the International Business Machines Corporation (IBM), deemed diverse BRICS partnerships as "wonderful".

"That's a wonderful thought on the part of China and I wish that other countries in the world would think the same way," he said.

Because that will benefit all peoples in the world "if our global leaders will think that way about the importance of multiple relationships between countries," he added.

Citing Israel, he said, "Israel certainly needs (those) because we're a very small country. In order to succeed, we need deep relationships with countries like China."

And "economic development will ultimately be the benefit of all people," he noted.

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