The presidents of Brazil and Russia agreed Wednesday that Russia will host a summit of the world's four leading emerging market nations next year.

President Luiz Inacio Lula da Silva said Brazil, Russia, India and China "represent a powerful force," signing a statement on the summit with his visiting Russian counterpart, Dmitry Medvedev.

Silva has been pushed for big developing nations like Brazil to have a major role in drawing up new regulations for international finance, and he wants the IMF and World Bank to give large developing nations more of a voice in decisions.

Russia's ITA-Tass news agency quoted Medvedev as saying that he and Silva discussed the world economic crisis and the creation of a "new financial architecture."

G20 meeting

Finance ministers of the four countries met at a G20 meeting in Sao Paulo this month.

Silva and Medvedev did not say whether China and India have agreed to the 2009 summit.

The two presidents discussed increasing cooperation in the fields of energy, agriculture and railways.

They signed a military technology cooperation accord and agreed that their national space agencies would "cooperate in the use and development of Russia's Global Satellite Navigation System."

In April, Brazil and Russia agreed to work together to build rockets capable of hurling several kinds of satellites into space.

Brazil builds its own small and medium-size rockets that are launched from the Alcantara base in the northeastern Brazilian state of Maranhao.

- AP