According to a Chinese diplomat, a meeting of all the leaders of the world’s leading economies is expected to increase agreement and mutual aid among them. The group should also yet to determine whether to set up a permanent secretariat.

The said meeting will happen in the Southern Chinese resort of Sanya will comprise of heads of Brazil, Russia, India, China, and South Africa, which will join the assembly for the very first time. The five countries are also known as BRIC with members consisting 40 percent of the overall world population and 15 percent of global trade.

The BRIC countries will discuss trade and finance, political issues, and other things, as stated by Wu Hailong, Assistant Chinese Foreign Minister, during the reporters’ briefing.

Another thing that will be covered during the BRIC countries meeting is whether to establish a formal BRIC secretariat as well as the group’s future development.

Wu also said that the BRIC countries also recognized the existence of oppositions and differing views among the members, but the group would do everything to put off impending problems.

Wu also said that Chinese President Hu Jintao is planning to conduct some bilateral meetings together with his counterparts regarding on the crisis happening in Libya at present.