Putin Declares Strengthening of Ties Within BRICS

BRICS countries now constitute approximately 40% of the global economy, and it is evident that this share will inevitably continue to grow — this is a "medical fact," as stated by the Russian president during his speech at the St. Petersburg International Economic Forum.

Vladimir Putin emphasized the need to build a new development model worldwide, one that is free from the principles of neocolonialism.

Vladimir Putin, President of Russia:

"Of course, we are paying particular attention to strengthening ties within BRICS. The mutual trade turnover among our countries has already exceeded $1 trillion and continues to grow. All of this, in essence, forms elements of a global growth platform — built on the key principles of BRICS."

The Russian leader also spoke about the state of Russia’s relations with several key international partners, including Belarus. Specifically, he stated that Russia, together with its Eurasian Economic Union partners, will adjust customs policies to stimulate new production chains and transfer advanced technological solutions to our countries.