Russian President Vladimir Putin has underlined the growing economic weight of BRICS nations,
stating that they have become a major force in the global economy.

Speaking at the plenary session of the 29th St. Petersburg International Economic Forum, he emphasised that BRICS countries have accounted for nearly half of annual global GDP growth over the past five years and have significantly expanded their share of high‑tech exports. He noted that the bloc now contributes around 40 per cent of global GDP in purchasing power parity terms.

Putin highlighted that during the existence of BRICS, its share of global merchandise trade has more than doubled, while intra‑BRICS trade has already exceeded USD 1 trillion.

Putin drew attention to the technological strength of the grouping, pointing out that BRICS countries now account for more than one‑third of global high‑tech exports. He cited China’s leadership in artificial intelligence patents, India’s strong position in the global software industry, and Russia’s advances in digital platforms, financial technologies, and nuclear energy.

He remarked that the world becomes fairer when economic growth embraces billions of people who were previously on the periphery of the global economy, adding that 49 per cent of global GDP growth in recent years has come from BRICS countries.

Uzbekistan’s President Shavkat Mirziyoyev also addressed the session, noting that cooperation with Russia has evolved beyond trade into technological alliances, industrial chains, and joint production projects.

He revealed that the portfolio of joint Russia‑Uzbekistan projects now exceeds USD 50 billion, reflecting the depth of bilateral economic engagement. His comments underscored the importance of regional partnerships in driving innovation and industrial development.

Tanzanian President Samia Suluhu Hassan highlighted Africa’s growing economic importance, stressing that by 2050 one in four people globally will be African. She added that the continent will host nine of the world’s 20 fastest‑growing economies, underlining Africa’s role as a key driver of future global growth. Her remarks pointed to the demographic and economic transformation that will shape the global economy in the coming decades.

Chinese Vice President Han Zheng emphasised the need for a fairer system of global governance. He stated that China and Russia remain committed to promoting a multipolar world order based on sovereign equality, international law, and genuine multilateral cooperation. His intervention reflected Beijing’s consistent advocacy for reforms to global institutions and its alignment with Moscow on the principle of multipolarity.

The session as a whole focused on the transformation of the global economy and the growing role of emerging markets in shaping future growth. The contributions of leaders from Russia, Uzbekistan, Tanzania, and China highlighted the diverse perspectives within the BRICS framework and its extended partnerships. The discussions reinforced the idea that BRICS and its partners are not only reshaping trade and technology but also influencing the architecture of global governance.

ANI