Russian President Vladimir Putin said Sunday that trade between BRICS member countries has reached $1.2 trillion, highlighting the bloc’s growing economic importance.
Speaking at the BRICS Outreach meeting in New Delhi, Putin said rising populations, stronger domestic markets and expanding infrastructure across member states were creating favourable conditions for further economic cooperation.
He noted that BRICS countries now account for nearly a quarter of global exports and contribute significantly to worldwide economic growth. Putin argued that the bloc still has substantial untapped potential, particularly because its members have different economic structures and areas of specialisation.
According to Putin, these differences could create opportunities to establish new production chains, technologies, services and markets. He said BRICS could develop a common growth platform that combines the competitive strengths of its diverse economies.
The Russian president also pointed to the bloc’s growing international appeal, saying its principles of equal opportunities and unrestricted economic and social development were attracting increasing global attention.
Putin added that BRICS was playing an active role in promoting a fairer and more multipolar international order.
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