Prime Minister Narendra Modi on Monday emphasized on enhanced economic cooperation and trade ties between member nations at the 9th BRICS Summit in the Chinese southeastern city Xiamen.

In his Plenary address, Modi stressed that BRICS has developed a “robust framework” for cooperation and contributed stability and growth in a world “drifting towards uncertainty”.

“Our Central Banks must further strengthen their capabilities and promote co-operation between the Contingent Reserve Arrangement and the IMF,” Modi said.

“PM urges early creation of BRICS rating agency to cater to financing needs of sovereign & corporate entities of developing countries,” he added.

“We need to mainstream our youth in our joint initiatives; scaled up cooperation in skill development and exchange of best practices,” Modi said further as he emphasized on the need to “accelerate track of cooperation in smart cities, urbanization and disaster management”.

Modi also praised Chinese President Xi Jinping for the warm reception and excellent organisation of the event. The two leaders will be meeting on the sidelines of the three-day event.

Their meeting will be keenly watched after the resolution of the Doklam border row, which pitted the armies of the two countries against each other for over two months.

Besides, Modi is expected to meet Presidents Vladimir Putin of Russia and Michael Temer of Brazil. Also attending the event will be South African President Jacob Zuma.

The Indian leader will address the BRICS leaders’ dialogue with ‘BRICS Business Council’ meeting.

Modi will take part in an event of the ‘Emerging Markets and Developing Countries’ Dialogue’ on Tuesday morning.

After the BRICS Summit, Modi will travel to Myanmar.