{The following excerpts are taken from Russian President Vladimir Putin’s remarks to the Oct. 23 Expanded Format Plenary Session and the Oct. 24 BRICS Plus/Outreach session.
Oct. 23: “The center of business activity is gradually shifting towards developing markets…. However, there is still considerable crisis potential, not only due to rising geopolitical tensions but also because of the continuing growth of the debt burden in industrialized countries and the expanding practice of unilateral sanctions, protectionism and unfair competition…. The raw materials prices volatility is high, with individual and corporate revenues declining in many countries due to rising inflation….
“It appears that a trend to retain BRICS’ leading positions in the global economy will be consolidated, primarily due to such objective factors as population growth, the accumulation of capital, urbanization and greater labor productivity, bolstered by technological innovations….
“Efforts to enhance transport connectivity between our countries deserve special attention, since they offer us additional opportunities for expanding and diversifying mutual trade. This year, we started a dialogue on this topic within BRICS…. We are also discussing future projects, such as creating a permanent logistics platform within BRICS, reviewing transport routes, creating an online communications platform for the transport sector, and establishing a reinsurance pool….
“On a separate note, I would like to mention the publication of the BRICS medical journal’s first edition, which offers a platform for doctors, researchers and medical students to publish their innovative ideas…. I would like to underscore Russia’s proposal to establish a BRICS alliance in the realm of artificial intelligence…
“It is essential that all BRICS partners remain committed to working closely together to create a more democratic, inclusive and multipolar international system. We have a shared understanding of the fact that together we can undertake the most ambitious and large-scale projects and initiatives….
“As a founding member of the New Development Bank, Russia wants it to expand its project activities in all the countries which have the status of NDB shareholders and in the countries of the Global South and East….
