The President of Russia stated at the BRICS+ meeting that the volume of trade between the member states of the union has currently reached $1.2 trillion. This information was voiced by Vladimir Putin during the BRICS+ summit in New Delhi.
According to the president, BRICS countries account for almost a quarter of global exports. Furthermore, these nations have contributed 49 percent to the growth of global gross domestic product in recent years.
Putin emphasized that one of the key, yet not fully realized, reserves of BRICS is the complementarity of the economies of the participating countries. This opens up opportunities for forming chains of new products, technologies, services, and markets.
The head of Russia called this process the platform for common BRICS growth. He believes that such a platform should be open not only to members of the union but also to partner countries.
He also noted that channels for the movement of goods, services, and capital have been established within BRICS countries, independent of external conditions. These mechanisms allow for trade, banking, financial, and investment operations despite external pressure.
Putin drew attention to practical initiatives promoted by Russia. Among them are the creation of BRICS payment and depositary infrastructure, the introduction of a reinsurance mechanism, and the establishment of a grain exchange. These proposals were previously put forward, but at the BRICS+ summit on September 13, the Russian President called again for their support.