Putin- The goal of BRICS is the sustainable development and prosperity of member states
During an address at the BRICS Business Forum in Moscow on October 18, Russian President Vladimir Putin emphasized that the cooperation among BRICS nations is not aimed at any particular entity. Instead, its primary focus is on the sustainable development and prosperity of its member countries.
According to a statement from the Russian presidential website, Putin highlighted that under Russia’s presidency in BRICS, there has been a concerted effort to promote multilateralism and encourage fair global development and security. He noted that the BRICS nations are working towards comprehensive cooperation in three crucial areas: political and security affairs, economic and financial collaboration, and cultural and humanitarian connections. To date, more than 80% of related initiatives have been successfully implemented, including over 200 events, meetings, and discussions, with the main highlight set for the BRICS Leaders’ Summit next week in Kazan.
Putin also pointed out that in 2023, BRICS countries are projected to account for 37.4% of global GDP, compared to the G7’s 29.3%, with this gap expected to widen further. Over the past decade, BRICS nations have contributed to more than 40% of global GDP growth. This year, the average economic growth rate for BRICS countries is forecasted to be 4%, significantly surpassing the G7’s anticipated rate of 1.7% and the global average of 3.2%.
He further asserted that BRICS nations play a crucial role in the current global economy and will continue to bolster their influence in the future. According to him, BRICS is becoming an engine for global economic growth, with the majority of future GDP increases expected to stem from these nations. He acknowledged that the collaborative efforts of BRICS are yielding tangible results, significantly enhancing the welfare and quality of life for the ordinary citizens across member countries.
One of the key issues identified by Putin regarding the strengthening of internal business partnerships within BRICS is enhancing transportation connectivity. This includes the establishment of new freight routes and corridors that align with business needs, as well as modernizing intermodal and logistics systems. Russia has initiated regular dialogue among BRICS transportation sectors on these matters and is developing flagship projects like the Northern Sea Route and the North-South Corridor. Additionally, Russia is actively collaborating with BRICS nations in the fields of innovation and the digital economy, focusing on e-commerce and the integration of IoT and artificial intelligence technologies. He emphasized the need to create a unified digital infrastructure for BRICS in the future.
Putin reiterated Russia’s open stance on mutually beneficial cooperation, striving to create competitive working conditions for both domestic and foreign enterprises in order to attract foreign capital and technology. He stressed that leveraging the potential of BRICS, particularly given its large population and abundant resources, will yield the greatest benefits for its nations, businesses, and citizens.
