Putin Specifies Future Role for BRICS
According to the Russian president, the members of the bloc are expected to contribute significantly to the growth of global GDP in the coming years. Read Full Article at RT.com
TroibNews 
The BRICS nations are emerging as the primary catalysts for global economic growth, and their influence is set to expand further through enhanced collaboration within the group, according to Russian President Vladimir Putin.
During his address at the plenary session of the BRICS Business Forum in Moscow on Friday, he highlighted that the bloc’s share of global GDP has already surpassed that of the Group of Seven, the leading economies of the West, and continues to grow.
Currently, BRICS constitutes 37.4% of global GDP, compared to the G7's 29.3%. “And this gap is widening. And it will keep widening even further. It is inevitable,” Putin emphasized.
He asserted that “the BRICS countries are in fact the drivers of the global economic growth. It is within BRICS that the main increase in global GDP will be generated in the foreseeable future.”
According to Putin, the bloc "accounts for about a quarter of the world’s exports of goods,” and its members lead many critical markets, including those for energy, metals, and food.
Putin also mentioned that various “development platforms” are being established within BRICS, including “communications channels, technological and educational standards, financial systems, payment instruments and, of course, mechanisms for sustainable long-term investment.”
These initiatives aim to ensure that “the economic growth of BRICS members in the future will depend less and less on external influence or interference.” This vision encapsulates the bloc's goal of achieving “economic sovereignty,” which would cultivate “a partnership of self-sufficient economies, which greatly increases their potential, opens up new opportunities,” he added.
He reaffirmed that “the work of BRICS is not directed against anyone. It is solely aimed at one common task, which is the sustainable development and prosperity of our countries and people.”
As the current chair of BRICS, Russia is set to host the annual summit in Kazan from October 22 to 24. Starting January 1, 2024, Iran, Egypt, Ethiopia, and the UAE will officially join the existing members Brazil, Russia, India, China, and South Africa.
James del Carmen contributed to this report for TROIB News
During his address at the plenary session of the BRICS Business Forum in Moscow on Friday, he highlighted that the bloc’s share of global GDP has already surpassed that of the Group of Seven, the leading economies of the West, and continues to grow.
Currently, BRICS constitutes 37.4% of global GDP, compared to the G7's 29.3%. “And this gap is widening. And it will keep widening even further. It is inevitable,” Putin emphasized.
He asserted that “the BRICS countries are in fact the drivers of the global economic growth. It is within BRICS that the main increase in global GDP will be generated in the foreseeable future.”
According to Putin, the bloc "accounts for about a quarter of the world’s exports of goods,” and its members lead many critical markets, including those for energy, metals, and food.
Putin also mentioned that various “development platforms” are being established within BRICS, including “communications channels, technological and educational standards, financial systems, payment instruments and, of course, mechanisms for sustainable long-term investment.”
These initiatives aim to ensure that “the economic growth of BRICS members in the future will depend less and less on external influence or interference.” This vision encapsulates the bloc's goal of achieving “economic sovereignty,” which would cultivate “a partnership of self-sufficient economies, which greatly increases their potential, opens up new opportunities,” he added.
He reaffirmed that “the work of BRICS is not directed against anyone. It is solely aimed at one common task, which is the sustainable development and prosperity of our countries and people.”
As the current chair of BRICS, Russia is set to host the annual summit in Kazan from October 22 to 24. Starting January 1, 2024, Iran, Egypt, Ethiopia, and the UAE will officially join the existing members Brazil, Russia, India, China, and South Africa.
James del Carmen contributed to this report for TROIB News
