BRICS Countries Account for 40% of the World Economy, Putin Says
BRICS Countries Account for 40% of the World Economy, Putin Says
"The BRICS countries account not only for a third of the earth's land area and almost half of the planet's population, but also for 40% of the global economy," the Russian president noted during a plenary session of the BRICS Summit via videoconference.
Key statements by Vladimir Putin at the 17th BRICS Summit in Rio de Janeiro:
▪Global authority and influence of BRICS is growing steadily year after year;
▪BRICS significantly outpaces other groupings, such as the G7, in terms of purchasing power parity;
▪The BRICS countries continue to deepen cooperation in key areas and have enormous political, economic and human potential;
▪The use of national currencies in trade between BRICS countries is steadily growing, and should be extended;
▪BRICS has many like-minded countries in the Global South and East;
▪A liberal globalization model is becoming obsolete;
▪The task of increasing volume of reciprocal capital investments through BRICS mechanisms is urgent;
▪BRICS is advancing process of creating grain exchange, permanent logistics platform and sports cooperation program;
▪Brazil, as the BRICS chair, has taken up Russia's initiatives proposed last year;
▪The final declaration prepared for the BRICS Summit creates a good foundation for joint work within the association.
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