Moscow [Russia], June 23 (ANI): Russian President Vladimir Putin has emphasized the growing economic power of BRICS nations, stating that their share in the global economy has doubled over the past two decades. Speaking at the plenary session of the St. Petersburg International Economic Forum (SPIEF), Putin noted that BRICS countries now contribute nearly 40 percent to global economic output, up from 20 percent at the turn of the century.
Putin described the current moment as one of the most profound shifts in the global economy in decades. He reiterated Russia’s commitment to advancing a new development model anchored in fairness, openness, and respect for national interests.
Reflecting on the outcomes of the 2024 BRICS summit held in Kazan, the Russian leader said that 35 countries had voiced support for the creation of a new international framework better aligned with the multipolar nature of today’s world.
He also highlighted that trade among BRICS nations has already surpassed USD 1 trillion, with collaborative projects expanding rapidly in cutting-edge sectors such as artificial intelligence, nuclear energy, aviation, and information technology, according to a report by TV BRICS.
“Russia invites its partners to contribute to the formation of a new global growth model, to jointly ensure the prosperity of our countries and the stable development of the whole world for many, many years to come,” Putin said.
Global Leaders Echo Support for Multipolar World Order
South African Deputy President Paul Mashatile echoed Putin’s views, calling multipolarity a defining theme of modern global affairs. Praising Russia’s role within BRICS and the G20, he emphasized Africa’s rising strategic importance, particularly its growing population and industrial potential.
“Africa is looking for partnerships based on equality, equal access to capital markets, knowledge, and technology,” Mashatile noted.
Chinese Vice Premier Ding Xuexiang reaffirmed China’s support for open cooperation with the Global South, stating, “The civilisations of the world must develop through mutual enrichment, based on equality, dialogue, and respect for diversity.”
Bahrain’s National Security Advisor, Nasser bin Hamad Al Khalifa, praised Russia’s economic vision, especially in the fields of energy and industry. He also reiterated Bahrain’s commitment to deepening economic cooperation with Moscow.
The SPIEF continues to serve as a key global platform for economic dialogue, especially among emerging powers seeking to reshape global governance and foster a more balanced international order. (ANI)
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