Chinese President Hu Jintao and leaders of three other BRIC nations -- Brazil, Russia and India met in Brasilia on Thursday to discuss a wide range of issues, including global economic and financial situation, reform of the world's financial institutions, climate change and cooperation among the BRIC nations.

Chinese President Hu Jintao attends the second summit meeting of BRIC (Brazil, Russia, India and China) leaders in Brasilia, capital of Brazil, April 15, 2010. [Ju Peng/Xinhua]

In a speech delivered at the summit, Hu said the four nations had broadened the scope and increased the levels of dialogue and cooperation among themselves, which had produced fruitful results.

"Our four nations differ in political systems, development modes, religious beliefs and cultural traditions, but we have become good friends and partners," he said.

"We strive to keep up with the trend toward peace and development and answer the call of our time for cooperation and mutual benefit," he added.

The Chinese president pointed out that the BRIC cooperation faced both opportunities and challenges.

"We should base our cooperation on political mutual trust, and treat each other with sincerity, mutual respect, mutual understanding and mutual support," he said.

"We should aim for mutual benefit by combining our respective strengths and sharing the fruits of cooperation to the fullest extent."

He stressed that no matter how the international situation might evolve and what changes the international system might undergo, the BRIC nations should be firmly committed to the goal of mutual benefit, adhere to the principles of democracy, equity, mutual respect and uphold the spirit of solidarity and cooperation.

"The international community coordinated the 'entry' strategy in response to the financial crisis, and we must also act in coordination with respect to the 'exit' strategy and maintain the continuity and stability of macroeconomic policies," Hu said.

The Chinese leader urged all parties to address imbalances in the global economic governance structure, continue to promote trade liberalization and facilitation, properly handle trade disputes and reject trade protectionism.