BRICS making huge contribution into global economy
It is stressed that the parties are strengthening cooperation in such areas as the diversification of supply chains, de-dollarization and transition to national currencies in mutual settlements
Investments made by BRICS (Brazil, Russia, India, China and South Africa) in the global economy increased by a factor of two over the last decade, Russian President Vladimir Putin said via video link at the 15th BRICS summit.
“Investments by BRICS countries in the global economy increased twofold over the past decade and total exports reached 20% of the global total,” Putin said.
The 2025 economic partnership strategy of BRICS member states is being successfully implemented, the Russian President noted. In particular, the parties are strengthening cooperation in such areas as the diversification of supply chains, de-dollarization and transition to national currencies in mutual settlements, the digital economy, support of small and medium-sized enterprises and fair transfer of technologies, Putin stressed.
The contribution of the five BRICS member-states, who have a combined population of over three billion people, to the global GDP “is already above the share of the so-called Group of Seven in terms of purchasing power parity,” the Russian leader added.
