South Africa hosted the fifth BRICS Summit in March 2013£¬which completed the first cycle of BRICS summits£¬BRICS is an acronym for the powerful grouping of the world's leading up-and-coming economies£¬namely Brazil£¬Russia£¬India£¬China and South Africa£®The BRICS aims to achieve peace£¬security£¬development and cooperation£®It also seeks to contribute to the development of humanity and build a more stable and fairer world£®

The industry leaders from the business communities of the five countries agreed that the BRICS countries will actively support industrialization on the African continent in order to contribute significantly to its development and to expand trade links between Africa and  BRICS£®The global economic situation£¬though improving£¬continues to remain uncertain with the Euro-crisis a major concern£®The task ahead is to build on these developments and BRICS countries remain committed to the cause of promoting sustainable growth£®Greater economic cooperation among BRICS countries can be significantly important£¬which will prove beneficial for global economic growth£®