Trade between BRICS countries exceeds 1 trillion USD.
Trade among BRICS member countries has surpassed 1 trillion USD, with continuous growth according to Russian President Vladimir Putin.
At the St. Petersburg International Economic Forum, Putin emphasized the growing economic ties of the BRICS group. According to TASS, he stated: “Trade turnover between our countries has exceeded 1 trillion USD and continues to grow.”
Putin referred to the BRICS summit in Kazan, where 35 countries participated, accounting for nearly two-thirds of the global population and about half of the world's GDP. These countries share a common vision for the direction of global development and how to achieve it.
The BRICS cooperation program also extends to areas such as aviation, nuclear energy, robotics, artificial intelligence, information technology, and new materials. The group does not limit the number of members, as long as they commit to the common goals.
Putin promotes BRICS as an economic driver beyond the Western model.
Putin declared that the BRICS group currently controls about 40% of the world's economy, and this number continues to rise. He said: “This is the truth in terms of medicine,” while predicting that most of the growth will come from the Global South.
Emphasizing the benefits of comprehensive cooperation, Putin stressed that the group upholds the principle of consensus and equality. He believes that expanding the number of participating countries will nurture future generations, making this group a dominant force in the global economy, beyond the influence of Western models.
Before Putin took the stage, a video depicted the weakening of the United States, while BRICS emerged as a new force in global development. The burning Hollywood sign reflects America's loss of control, while the BRICS group rises as a counterweight navigating the new world.
The program started about 45 minutes late, but the impressive guest list included leaders such as Indonesia’s President Prabowo Subianto, China's Vice Premier Ding Xuexiang, Bahrain's Crown Prince Nasser bin Hamad Al-Khalifa, and South Africa's Vice President Paul Mashatile.
In his speech, Putin confidently spoke about the domestic economy. He stated that Russia's GDP has grown faster than the global average despite a complex external environment. Russia is becoming increasingly less dependent on oil and gas exports, turning to markets like China and India, reflecting significant progress toward emission-free energy.
Russia aims to restructure its economy despite the war, minimizing the influence of military strategy.
Putin asserted: “Our economy is of higher quality, more complex, and more multifaceted.” He stated that the government is collaborating with businesses and scientists to gradually promote this transition. Without directly mentioning Ukraine, Putin emphasized global “tectonic shifts,” including in the Middle East.
He also warned of the risk of recession, emphasizing: “Some experts warn of the risk of stagnation or recession, but that cannot happen in any form.” Niche markets such as 20% interest rates and nearly 10% inflation are putting pressure on Russia's economic growth, according to senior officials like Finance Minister Maxim Reshetnikov and Sberbank CEO Gref.
Putin sought to clarify that defense is not the main reason why the Russian economy has not collapsed. He emphasized the development of “technological sovereignty,” maintaining progress without dependence on the West. The defense and civilian sectors are increasingly interconnected.
The SPIEF forum was once known as “Russia's Davos,” gathering names from Western businesses. However, since 2022, the event has shifted focus, concentrating on building relationships with Asia and Africa, moving away from Western influence. For Putin, this cooperation is a clear strategy aimed at countries that are not sanctioned and are less connected to Washington.
Source: https://tintucbitcoin.com/brics-vuot-1-nghin-ty-usd-thuong-mai-dien-tu/
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