At the international economic forum in St. Petersburg, Vladimir Putin spoke about trade between BRICS countries exceeding $1 trillion.
Growth of Trade Between BRICS Nations
Vladimir Putin stated that the mutual trade turnover between BRICS countries has already surpassed $1 trillion and is continuing to grow. He emphasized that last year’s BRICS summit in Kazan had 35 countries participating, representing two-thirds of the global population and about half of the global GDP.
BRICS as a New Economic Center
Putin highlighted that BRICS nations are investing in aviation, nuclear energy, robotics, IT, and new materials. He pointed out that the group is open to new members who are willing to work towards shared goals. He also indicated that BRICS now controls 40% of the world economy, and this share is expected to grow.
Economic Challenges and Russia's Future
Regarding the domestic economy, Putin noted that Russia's growth rate outpaces the global average despite a complex external environment. He raised concerns about recession risks and emphasized the importance of technological sovereignty, stating that defense and civilian sectors need to be more interconnected.
By leveraging the forum’s platform, Putin affirmed Russia and BRICS positioning on the global stage, stressing the importance of collective growth and reducing dependence on the West.
