The collective West is losing out to the BRICS countries in economics!
Russian President Vladimir Putin spoke at the plenary session of the BRICS Business Forum.
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Russian President Vladimir Putin spoke at the plenary session of the BRICS Business Forum.
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NewsTranscript
00:00Ladies and gentlemen,
00:09dear friends,
00:12I am sincerely pleased to welcome all of you gathered here for the BRICS Business Forum.
00:21The list of participants is quite impressive.
00:24Leading business representatives from all the countries of the association are here.
00:30Your companies have been successfully cooperating with each other for a long time.
00:36They are implementing large joint projects in a variety of industries,
00:40in industry and energy, in transport and infrastructure,
00:44in agriculture and the digital economy.
00:48I would especially like to note that businessmen from those countries
00:54that became full members of BRICS on January 1st of this year have also arrived for this forum.
01:01These are our colleagues and friends from Saudi Arabia, Iran, Egypt, Ethiopia and the United Arab Emirates.
01:08I would like to emphasize, Russia, as the current chair of BRICS,
01:12is striving in every way to promote the integration, excuse the word,
01:17the integration of newcomers into all cooperation mechanisms.
01:20We see that the Business Council has warmly welcomed representatives from new member countries
01:28and they, in turn, have actively joined the work.
01:32The Russian Presidency is held under the general motto
01:39Strengthening Multilateralism for Equitable Global Development and Security.
01:43A substantive action plan is being implemented, aimed at promoting partners in three key areas.
01:48These are politics and security, economics and finance, cultural and humanitarian ties.
01:56To date, the plan has been completed by more than 80%.
02:01Over 200 events, meetings, conferences and industry meetings have been held.
02:07Most expert and ministerial meetings have taken place, but, of course,
02:12the central event will be the BRICS Summit.
02:15It starts next week in the Russian city of Kazan.
02:20It is symbolic that the meeting of leaders in the city of Kazan is preceded by the Business Forum, your meeting.
02:28This emphasizes the importance of close economic partnership between our countries.
02:35The promotion of trade and investment and the deepening of cooperation ties.
02:41Joint work in BRICS to accelerate socio-economic growth and ensure sustainable development brings concrete, tangible results.
02:52This actually contributes to improving the well-being and quality of life of ordinary citizens of our countries.
03:00The numbers speak for themselves. I am sure, of course, that you know these numbers in general,
03:10but I will allow myself to voice some of them.
03:14The combined GDP of the BRICS Association is more than $60 trillion,
03:20and the total share in the world gross product confidently exceeds the corresponding figure of the so-called G7,
03:27and it continues to grow.
03:29I have already spoken about this in public meetings with your Russian colleagues,
03:34but I will still say it again here, in this room, with your participation.
03:39For example, look, in 1992 the G7 GDP was 45.5%.
03:49And in the same 1992, the BRICS countries had 16.7% of the world GDP.
04:00And what now, year 2023, the GDP of our union was 37.4%,
04:12and the GDP of the G7 was 29.3%.
04:17The gap is widening, and it will widen. It is inevitable.
04:22This is already an absolutely clear dynamic.
04:26Moreover, in the last decade, over 40% of the growth of global GDP of the entire world economic dynamics came from the BRICS countries.
04:39According to the results of the current year, the average rate of economic growth in BRICS is projected at 4%.
04:47This is higher than the rates in the G7 countries, where growth is only 1.7%.
04:54And this is higher than the global rates.
04:56The global GDP growth rate will be 3.2%.
05:00This is the forecast. BRICS accounts for about a quarter of the world's goods exports.
05:04At the same time, companies from the countries of the association dominate many key markets, including energy resources, metals, food,
05:14that is, the markets for those goods without which sustainable economic development is impossible.
05:20In short, BRICS already plays a significant role in the global economy not only today,
05:28but this role will obviously increase in the future.
05:34The countries that are part of our association are actually the drivers of global economic growth.
05:42And it is in BRICS that the main increase in global GDP will be generated in the foreseeable future.
05:50Within the framework of the association, corresponding development platforms are being built.
05:55These are communication channels, technological and educational standards, financial systems, payment instruments, and, of course,
06:05these are mechanisms for sustainable, long-term investment.
06:09That is, the economic growth of BRICS members in the future will depend less and less on outside influence or interference.
06:18In essence, this is economic sovereignty.
06:22This is a partnership of self-sufficient economies, which multiplies their potential, which opens up new opportunities.
06:30I will add that the new development bank plays a special role in strengthening financial cooperation.
06:37This is a good, powerful, effective structure that has a significant capital base and a team of experienced experts.
06:47As a development institution, this bank already represents an alternative to a significant number of Western financial mechanisms.
06:58And, naturally, we will develop it without opposing it to anyone.
07:04It is simply an independent structure.
07:07We will expand the capabilities of this bank.
07:13The new bank should become one of the main investors in the largest technological and infrastructure projects in the BRICS space and the Global South as a whole.
07:24One of the key issues in strengthening business partnerships within BRICS is increasing transport connectivity,
07:32creating new freight highways and corridors in demand by businesses, modern intermodal solutions and logistics schemes.
07:40The Russian BRICS chairmanship has launched a regular dialogue between transport agencies on these issues.
07:48Initiatives such as opening an electronic coordination platform and forming a BRICS reinsurance pool are being developed.
07:59As far as I know, a separate subgroup on logistics has been established in the Business Council.
08:04I would like to thank the Council members, business representatives for supporting the concept of a permanent logistics platform.
08:12Russia is rapidly switching transport flows to reliable foreign partners.
08:18Our flagship projects include the Northern Sea Route and the North-South Corridor.
08:25These continental arteries are designed to provide short, profitable trade routes,
08:32linking large industrial, agricultural and electric power hubs with consumer markets.
08:40We are implementing a large-scale plan for the development of the Northern Sea Route,
08:46replenishing the icebreaker fleet, including nuclear-powered vessels.
08:50Cabotage voyages have been launched to test the routes.
08:55The satellite constellation is being modernized.
08:58New fuel terminals, shipping safety centers and other coastal infrastructure facilities are being built.
09:07Automobile and rail approaches to seaports are being expanded, in turn.
09:13The North-South Transport Corridor connects Russian ports on the Northern Seas and the Baltic with terminals on the coast of the Persian Gulf and the Indian Ocean.
09:24In particular, this is the key to increasing cargo transportation between the Eurasian and African continents.
09:31We also closely cooperate with our BRICS partners in the field of innovation and the digital economy.
09:38I just talked about our capabilities in the food markets, in the energy markets, and so on.
09:45But, of course, we are looking to the future.
09:47We are working on digital technologies.
09:49We are jointly developing e-commerce.
09:52We are implementing the Internet of Things and artificial intelligence technologies,
10:00processing so-called big data, and to deepen cooperation in the field of industrial digitalization.
10:07A BRICS competence center will be opened at the United Nations Industrial Development Agency, UNIDO.
10:14In the future, it is necessary to create a unified digital infrastructure for BRICS.
10:19And here, of course, it is important to define coordinated approaches of business, the public,
10:27and relevant government bodies on the use of biometrics and ensuring information security.
10:33We are counting on the relevant recommendations from you, dear ladies and gentlemen, from the business forum, dear colleagues.
10:42Russia is maximally open to mutually beneficial business cooperation.
10:47We are creating comfortable global competitive working conditions for business,
10:54for domestic and foreign business, for attracting capital and technology from abroad.
11:01First and foremost, of course, we cooperate with you.
11:04At the same time, I would like to emphasize once again
11:08that our common main efforts should be focused on the development and strengthening of our own platforms
11:13that ensure economic growth, I mean technological solutions, financial and investment mechanisms, expansion of logistics, and so on.
11:22I am confident that the realization of the BRICS potential,
11:26based in particular on a large population and a powerful resource base,
11:32will bring maximum benefit to our countries, businesses, and all our citizens.
11:38And in conclusion, I would like to wish the participants of the business forum fruitful communication,
11:44successful work, and all the best, I assume,
11:47that the current chairman of the BRICS business forum will report on the results of your forum at the meeting of leaders in the city of Kazan,
11:56as your colleague has already said here.
11:59And of course, I very much hope that you will be able to get to know the capital of Russia, Moscow,
12:06which is, of course, we always say with pride, one of the most beautiful cities in the world,
12:12a well-developed and rapidly developing global metropolis.
12:15Thank you for your attention. Thank you.
12:28www.brics.ru