BRICS Drives Global Economic Growth: President Putin
Russian President Vladimir Putin, Oct. 18, 2024. X/ @SonjaEnde
October 18, 2024 Hour: 10:15 am
Its share in the global economy surpasses the share of the U.S., Canada, France, Germany, Italy, Japan, and the UK.
On Friday, Russian President Vladimir Putin participated in the opening of the BRICS Business Forum in Moscow, where he emphasized the importance of the economic cooperation group led by Brazil, Russia, India, China, and South Africa.
RELATED:
Thirty-Two Countries Confirm Participation in Kazan BRICS Summit
“The combined GDP of the BRICS exceeds $60 trillion,” he said, highlighting that BRICS’ share in the global economy surpasses that of the Group of Seven (G7), which includes the United States, Canada, France, Germany, Italy, Japan, and the United Kingdom.
“In fact, BRICS countries are the engines of global economic growth. The BRICS will generate the main GDP growth worldwide in the foreseeable future,” Putin stressed.
These forecasts are possible because BRICS countries “will increasingly depend less on external influences or interference,” which signifies an increase in collective economic sovereignty.
The Russian president emphasized that BRICS’ actions “are not directed against anyone, as they have only one common goal: the sustainable development and prosperity of our countries and peoples.”
Given the growing interest in BRICS, Putin announced that this cooperation group will not accept new full members for the time being but will instead welcome associated states.
Between October 22 and 24, the BRICS presidents will hold a summit in the Russian city of Kazan, where they will discuss the criteria for other nations to participate in the group. At this meeting, Brazil will assume the rotating presidency of BRICS.
On January 1, 2024, Egypt, Iran, the United Arab Emirates, Saudi Arabia and Ethiopia became full participants in BRICS. Azerbaijan, Cuba, Turkey, and Venezuela have applied to join the group.
teleSUR/ JF Source: EFE – Russian Presidency
