Putin declares BRICS initiating ambitious development drive

(MENAFN) Russian President Vladimir Putin announced that BRICS nations are advancing major collaborative projects across key sectors such as nuclear energy, aviation, artificial intelligence, and robotics. Speaking at the St. Petersburg International Economic Forum (SPIEF) on Friday, Putin said the bloc is focusing on “human-centric industries” and improving living conditions through technology and innovation.

Putin highlighted the group's commitment to large-scale development initiatives in cutting-edge fields, including IT, new materials, and AI, signaling a broader ambition to reshape global growth dynamics.

BRICS, originally formed in 2006 by Brazil, Russia, India, and China, welcomed South Africa in 2010. In 2024, the alliance expanded further to include Iran, Egypt, Ethiopia, the United Arab Emirates, and later Indonesia. Over 30 more countries have submitted applications to join.

The combined trade volume among BRICS members has surpassed $1 trillion and continues to increase, Putin noted during the forum. He emphasized that the bloc operates on principles of consensus, equality, mutual benefit, and inclusivity—values that, he said, will become even stronger with the group's expansion.

Inviting other countries to take part in shaping a new global development model, Putin stressed the need for cooperative efforts to achieve long-term prosperity and global stability. “No nation can overcome today’s challenges alone or at another’s expense,” he said, urging joint action through platforms like BRICS.

This year’s SPIEF event has drawn participants from 137 countries and regions, including world leaders, multinational corporations, and international experts.

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