Russia hosts summits of new powers

Other News Materials 15 June 2009 06:49 (UTC +04:00)

The global spotlight falls on the Russian city of Yekaterinburg in the Urals this week as it hosts two significant events in terms of the new world order, Financial Times reported.

Dmitry Medvedev, Russia's president (above), today hosts the two-day heads of state summit of the Shanghai Co-operation Organisation , the Eurasian security grouping comprising China, Russia, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan.

As well as President Hu Jintao of China and the leaders of the other five full members, the event will also be attended by representatives from the organisation's four observer states: India, Iran, Mongolia and Pakistan. The SCO was formed as a loose security body eight years ago, but has broadened its compass to include trade and political issues.

And tomorrow , the city also hosts the first official summit of the so-called Bric nations, the rapidly growing economies of Brazil, Russia, India and China. The staging of the meeting, at which mutual trade and economic issues will be discussed, demonstrates the four's desire for a greater voice in global economic affairs.