Putin: Intra-BRICS Trade Surpasses US$1.2 Trillion

Russian President Vladimir Putin has revealed a significant achievement in economic cooperation among BRICS member states. During the BRICS Summit held in New Delhi, India, on Sunday (13/9), Putin stated that the value of internal trade within the forum has surpassed US$1.2 trillion, equivalent to approximately Rp21.1 quadrillion.

“Internal trade within our current cooperation framework has reached 1.2 trillion US dollars,” Putin said during his statement in the BRICS+ session, which served as the closing agenda of the summit series.

In his speech, Putin emphasised that BRICS member nations have successfully built a resilient economic foundation. According to him, the bloc is capable of conducting effective economic relations without being influenced by pressure or intervention from external parties.

He explained that the association has developed independent mechanisms to regulate the movement of goods, services, and capital. These mechanisms are designed to remain unaffected by external market fluctuations or uncertain conditions.

“The countries involved in our association have their own mechanisms regarding the movement of goods, services, and capital that are entirely independent of external market conditions,” he asserted.

Furthermore, Putin assessed that the existence of these internal mechanisms is crucial for the stability of member states. This allows BRICS nations to continue various commercial, banking, financial, and investment operations effectively, regardless of existing global political or economic pressures.