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updated 2:24 PM UTC, May 10, 2017

Speech at BRICS summit talks in expanded format

Russian_Summit

PRESIDENT OF RUSSIA VLADIMIR PUTIN:

Colleagues, ladies and gentlemen,

Work in the BRICS group is one of Russia’s foreign policy priorities.

The medium- and long-term strategy, as we see it, is to consolidate the BRICS group as a key part of the global governance system in the political, legal, financial and economic spheres.

On-going cooperation with our BRICS partners guides the work we are undertaking within Russia’s presidency of the G20. I want to take this opportunity today to thank once again my BRICS colleagues for supporting Russia’s initiatives and helping us to develop the substance of the draft decisions for the summit that will take place in St Petersburg in September.

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Speech at the BRICS leaders’ working breakfast with business leaders

Business Leaders

PRESIDENT OF RUSSIA VLADIMIR PUTIN:

Friends, colleagues,

BRICS holds a unique place in the global economy. It is the world’s biggest market, with our countries accounting for 40 percent of the world’s entire population.

The BRICS countries possess immense natural resources, a well-organised industrial base, professional human resources, and generate nearly 30 percent (just over 27 percent) of the world’s gross domestic product.

Our countries’ rapid growth is creating the conditions for economic development. My Brazilian colleague (Dilma Rousseff) spoke about this just before, and I just want to add that our overall average growth rate in 2012 was 4 percent, as opposed to 0.7 percent in the financial G7 countries. This is a more than five-fold difference, and cannot but make an impression.

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BRICS summit in South Africa

Summit

Vladimir Putin took part in the fifth BRICS summit. The summit’s theme is BRICS and Africa: Partnership for Development, Integration and Industrialisation.

The summit concluded with the publication of the eThekwini Declaration and Action Plan. The declaration assesses the current global political and economic situation and reflects the BRICS countries’ common positions on current multilateral cooperation issues. The action plan outlines the BRICS countries’ work over the coming year and also includes some promising new areas of cooperation.

The BRICS leaders witnessed the signing of cooperation agreements on green economy, co-financing infrastructure projects in Africa, and a declaration on establishing the BRICS Business Council.

Also signed was a declaration on establishing a consortium of BRICS countries’ expert centres and the issue of joint statistics publications from the BRICS countries.

Before the summit began, the leaders of Brazil, Russia, India, China and South Africa met with business leaders.

On this day, BRICS leaders also met with the heads of African states. During the meeting, Vladimir Putin noted that BRICS countries are jointly championing the rights and interests of African nations and other states with emerging economies, speaking out in favour of increasing their role and influence within the global governance system, particularly within international financial and economic organisations.

Article of the Ambassador-at-large, coordinator of the G20 affairs at the Ministry of Foreign Affairs Vadim Lukov “BRICS as an important driver of G20 development”, published in the special international volume “G20 summit in St Petersburg under presidenc

There is a deep interconnection between the development of BRICS, on the one hand, and the development of G20, on the other hand. It is based on the process of formation of a multipolar global economy of the 21 century.

A qualitative strengthening of the G20 role as a tool of counteraction to the financial economic crisis and its consequences has become possible mainly due to the position of the countries with emerging market economy. BRICS members, whom South Africa joined in December 2010, have played the leading role here. Their support to anti-crisis measures – political in the line of G20 and financial in the line of IMF – has become an important factor contributing to the prevention of an uncontrolled growth of the crisis, mitigation of its consequences. On the other hand, BRICS partners have fairly viewed G20 as an arena of critical importance from the very beginning not only to agree on stabilisation measures, but also to promote their programme of reforming the international financial and economic architecture. Therefore, the formation of the G20 agenda is to a great extent the process of searching a compromise between not always coinciding aspirations of developed countries and countries with forming market economy

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