Moscow/Kazan, Oct 23 (EFE).- The president of Russia, Vladimir Putin, affirmed today that the multipolar model launches a new wave of economic growth, when inaugurating the expanded meeting of the XVI summit of the BRICS group, which will take place celebrated in the Russian city of Kazan.
“A multipolar model is forming that is launching a new wave of growth, mainly thanks to the countries of the global South and East and, of course, the BRICS countries,” the Kremlin chief said.
He stressed that world trade and the global economy as a whole are experiencing “significant changes”, a process whose positive side is the fact that “the focus of business activity is gradually shifting.”
In this sense, he highlighted that this year the countries of the BRICS group will represent 36.7 percent of the world economy, a percentage that exceeds that of the States that make up the G7.
The president hosting the summit indicated that he has proposed creating a “BRICS grain exchange” to contribute to the formation of fair and predictable prices for products and raw materials, taking into account their role in guaranteeing food security.
In addition, he highlighted Russia’s initiative to create a BRICS platform for precious metals and diamonds, which allows it to fight against barriers in this market.
Putin also proposed creating a new BRICS investment platform to support the national economies of the countries of the global South and East.
This is the first summit of the group of emerging economies after its expansion from five to nine members last January.
At the end of the summit, BRICS leaders will approve a joint declaration on a number of global issues, including the conflict in Ukraine.
Subsequently, the Russian president will hold talks with the leaders of Türkiye and Iran, after doing the same this Tuesday with the leaders of China, India and South Africa.
The BRICS group, founded in 2006 and which held its first summit in 2009 in the Russian city of Yekaterinburg, includes countries with a third of the world economy and more than 40% of the population.
According to the Kremlin, around thirty countries have shown their interest in participating in the activities of that group in one way or another. Thirteen of them could become BRICS associate countries.
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Interview with Dr. Elena Gavrilov, Political Analyst on BRICS Summit and Multipolar Economic Growth
Editor: Thank you for joining us today, Dr. Gavrilov. We just heard from President Putin at the BRICS summit in Kazan, where he spoke about the multipolar model and its potential for economic growth. How significant is this shift towards a multipolar world order?
Dr. Gavrilov: Thank you for having me. The shift to a multipolar world is quite significant. It represents a move away from the historically dominant Western-centric powers, particularly the G7, and highlights the growing influence of countries in the Global South and East. This realignment has profound implications for global trade, economics, and even geopolitics.
Editor: Putin mentioned that BRICS countries now represent 36.7% of the world economy, surpassing the G7. What does this mean for international economic dynamics?
Dr. Gavrilov: This statistic is a powerful indicator of the increasing economic clout of BRICS nations. It signals a shift in where economic activity is concentrated, from traditional powers to a more diversified group. It could lead to different standards and practices in global trade, as BRICS nations have different priorities, particularly in sectors like agriculture and resource management.
Editor: One of the proposals that caught attention was the idea of a “BRICS grain exchange.” How could such an initiative impact global food security?
Dr. Gavrilov: A BRICS grain exchange could potentially stabilize food prices and ensure fair access to essential products. By coordinating on agricultural trades and setting fair prices, BRICS could improve food security not just for themselves but also influence the global market. This could be particularly beneficial for food importing nations that are currently facing rising prices.
Editor: Putin also proposed a new investment platform to support the economies of the Global South and East. What would that entail?
Dr. Gavrilov: This investment platform is essentially a mechanism to funnel resources into developing economies within the BRICS framework. It aims to facilitate investment in infrastructure, technology, and other critical areas that can enhance economic stability and growth in these countries. The idea is to create a supportive network that encourages economic collaboration and reduces dependency on traditional Western financial flows.
Editor: with around thirty countries expressing interest in joining BRICS, what does this say about the future of global alliances?
Dr. Gavrilov: This interest underscores a growing desire among many nations to explore alternatives to established alliances like the G7. It reflects a broader search for sovereignty and autonomy in international relations. As more countries join or engage in BRICS, we may see a redefinition of global power structures, with new coalitions emerging that prioritize South-South cooperation.
Editor: Thank you, Dr. Gavrilov, for your insights on this timely and important topic. It will be interesting to see how these developments unfold in the coming months.
Dr. Gavrilov: Thank you for having me! It’s certainly a pivotal moment in global politics.
Editor: Thank you for joining us today, Dr. Gavrilov. We just heard from President Putin at the BRICS summit in Kazan, where he spoke about the multipolar model and its potential for economic growth. How significant is this shift towards a multipolar world order?
Dr. Gavrilov: Thank you for having me. The shift to a multipolar world is quite significant. It represents a move away from historically dominant Western-centric powers, particularly the G7, and highlights the growing influence of countries in the Global South and East. This realignment has profound implications for global trade, economics, and even geopolitics.
Editor: Putin mentioned that BRICS countries now represent 36.7% of the world economy, surpassing the G7. What does this mean for international economic dynamics?
Dr. Gavrilov: This statistic is a powerful indicator of the increasing economic clout of BRICS nations. It signals a shift in where economic activity is concentrated, from traditional powers to a more diversified group. It could lead to different standards and practices in global trade, as BRICS nations have different priorities, particularly in sectors like agriculture and resource management.
Editor: One of the proposals that caught attention was the idea of a “BRICS grain exchange.” How could such an initiative impact global food security?
Dr. Gavrilov: A BRICS grain exchange could potentially stabilize food prices and ensure fair access to essential products. By coordinating on agricultural trades and setting fair prices, BRICS could improve food security not just for themselves but also influence the global market. This could be crucial in times of food shortages or price volatility, promoting a more predictable supply chain.
Editor: Lastly, can you elaborate on the implications of Russia’s proposal for a BRICS investment platform to support national economies in the Global South and East?
Dr. Gavrilov: The proposed BRICS investment platform aims to enhance investment flows within member countries, fostering development projects that align with their specific needs. This could reduce reliance on Western financial systems and empower emerging economies to direct their development. Ultimately, it promotes a more balanced global economic landscape where diverse growth models can flourish.
Editor: Thank you, Dr. Gavrilov, for your insights on the evolving landscape of global economics and the significance of the BRICS summit.
Dr. Gavrilov: Thank you for having me. It’s an exciting time for these emerging economies.
