"The BRIC countries are at a similar level and stage of economic development and their positions on major international issues are close," said Chinese Foreign Minister Yang Jiechi at a press conference on March 7.

"In the face of increasing global challenges, the BRIC countries have enhanced cooperation among themselves and with other countries in the world in an active, pragmatic, open and transparent manner. I believe that is in the interests of the whole world," he said.

At the first BRIC summit in Yekaterinburg, leaders of the four nations discussed the global financial crisis, the reform of the world's financial institutions, and also prospects for further strengthening collaboration within the BRIC.

At the end of the Brasilia summit, a joint statement is expected to be issued.

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