While the G20 summit is about to convene in London on Thursday, BRIC and some other emerging economies insist developing countries should have a bigger say in multilateral financial discussion and relevant policy-making process.

They also say the existing international financial system deserves repairing and related countries should restrain from practicing protectionism.

Bigger say

As the global financial crisis unveils defects of the existing international financial system, BRIC, which include Brazil, Russia, India and China, more than ever pointed out a few developed economies simply exercise monopoly in global financial rule making, while developing countries have long been marginalized unfairly.

For instance, the International Monetary Fund (IMF) bears a voting structure dominated by Europeans and Americans, with the United States alone holding 17 percent voting power, a quota big enough to veto any major notion within the IMF.

Earlier this month, Chinese Financial Minister Xie Xuren called for substantial and overall reforms of the international financial system, and endeavor to a new one featuring fairness, justice, rich inclusion and order.

With a candid tone, Brazilian Finance Minister Guido Mantega suggested emerging economies be given more voting rights and bigger say in policy-making process within international financial institutions.

To make the goal more localized, Mexico announced President Felipe Calderon would join hands with his colleagues from Argentina and Brazil at the G20 summit in boosting Latin America's voice and asking more aid from international financial institutions destined for developing nations.

"The relative power of traditional advanced economies is in decline while the importance of emerging economies grows steadily as they increasingly participate in global production chain," Zhang Bing, a senior researcher with the Chinese Academy of Social Sciences, told Xinhua.

He noted, with a changed global economic scenario, it is high time that emerging economies get more involved in global economic governance.