RIO DE JANEIRO, Nov. 13 (Xinhua) -- Brazilian President Jair Bolsonaro said Wednesday that he intends to increase Brazil's trade with other BRICS member countries.

The statement was made at a business forum of the ongoing 11th BRICS summit held in Brazil's capital city Brasilia, attended by the heads of state of BRICS nations -- Brazil, Russia, India, China and South Africa.

In his speech, Bolsonaro highlighted that Brazil's trade with its four BRICS partners amounted to 110 billion U.S. dollars in 2018, and his administration intends to make the country more attractive to foreign businesses and investors by making more reforms.

"The business people gathered here today have great hopes for the new government. We want to improve the business environment and facilitate businesses. There are many opportunities and Brazil has never been at the level it is today," the president said.

"Brazil is one of few countries in the world which has an ample market of varied opportunities to all," he added.

Bolsonaro reaffirmed that the country will open its arms wide open to other BRICS members and take steps to promote economic cooperation within the bloc.

This year's BRICS summit, held from Wednesday to Thursday, is under the theme of "Economic Growth for an Innovative Future."