The Global South begins to play a leading role in the world, Vladimir Putin stated at the meeting.
"World trade and economy are actively changing. […] A new system of relations is being built, in which the states of the Global South are beginning to play leading roles," the Russian leader said.
He further noted that these are "dynamically growing countries, participating in promising integration associations such as BRICS."
BRICS countries' contribution to the global economy exceeds indicators of the G7, and it continues to grow, President Putin added.
"The contribution of the BRICS countries to the global economy already exceeds the share of the so-called G7 and continues to rise. The trend is growing; it is not changing," Putin said.