Johannesburg, July 26: Chinese President Xi Jinping has said BRICS countries should pursue win-win cooperation to build an open economy. Addressing a business forum on Wednesday here at the 10th BRICS summit scheduled from July 25-27, the Chinese President said different countries can achieve mutual benefit, shared prosperity and sustainable development only by opening themselves up, Xinhua news agency reported. Also Read - Ladakh Standoff: India-China Hold 9th Round of Talks of Military Talks | What to Expect

Openness and cooperation are the sure way to achieve progress in science and technology and growth of productivity, he said. Xi called on BRICS countries to firmly promote an open world economy, be resolute in rejecting unilateralism and protectionism, promote trade and investment liberalisation and facilitation, and jointly steer the global economy toward greater openness, inclusiveness, balanced growth and win-win outcomes for all. Also Read - Bolsonaro Likens COVID-19 Vaccine to 'Sanjeevani Booti', Thanks PM Modi After Consignment of Covishield Arrives in Brazil

“We should ensure that economic globalisation will deliver more benefits,” he said. He also called on BRICS countries to help emerging markets and developing countries, African countries and the least developed countries in particular, fully involve themselves in international division of labour and share in the benefits of economic globalization. Also Read - China Warms Up To Joe Biden, Asks Him To Bring Bilateral Ties Back on Right Track

The Chinese President added that a trade war should be rejected, because there will be no winner, and that economic hegemony is even more objectionable as it will undermine the collective interests of the international community. “Those who pursue this course will only end up hurting themselves,” he said.

BRICS gathers the world’s major emerging economies — Brazil, Russia, India, China and South Africa.