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During the session, dedicated to peace, security, and global governance reforms, participants discussed prospects of further cooperation between the  Background information BRICS BRICS states in politics, trade, the economy, culture, and humanitarian affairs, as well as the international agenda.

After the 17^th BRICS Summit the final Declaration, BRICS Leaders’ Statement on the Global Governance of Artificial Intelligence and Leaders’ Framework Declaration on Climate Finance have been adopted.

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Remarks at the main plenary session of the 17^th BRICS Summit

President of Russia Vladimir Putin: Colleagues, friends.

First of all, I would like to join the words of gratitude to President Lula da Silva and the Brazilian Chairmanship for their active efforts in advancing the strategic partnership within BRICS.

It is important that the BRICS countries continue to deepen their cooperation across key sectors in politics, security, the economy and finance, cultural and humanitarian contacts.

This group has significantly grown and now includes leading states in Eurasia, Africa, the Middle East, and Latin America. Together, we possess a vast political, economic, scientific, technological, and human potential.

The BRICS countries account for not only a third of the Earth’s landmass and almost half the planet’s population, but also for 40 percent of the global economy, while their combined GDP at purchasing power parity stands at $77 trillion. This is the 2025 data according to the IMF. By the way, BRICS is substantially ahead of other groups in this parameter, including G7 with $57 trillion.

Year after year, our group’s global authority and influence continue growing. BRICS has rightfully established itself as one of the key centres of global governance, with our collective voice in support of the global majority’s vital interests resonating ever more powerfully across the international stage.

BRICS has many supporters in the Global South and East. The culture of an open partnership and cooperation, mutual respect and consideration for each other’s interests in the group appeals to them. Based on this knowledge, during the summit in Kazan, Russia, in October 2024, we decided to establish a category of BRICS partner states, to develop ad hoc practical cooperation with all interested countries. BRICS has ten partner states to date.

I will stress that the BRICS countries represent different development models, religions, authentic civilisations and cultures, while unanimously upholding equality and neighbourliness. They prioritise traditional values, the high ideals of friendship and accord, striving to contribute to global stability and security, the prosperity and success of all nations. Without doubt, this constructive approach and unifying agenda are highly relevant amidst the geopolitical challenges of today.

We all see that the world is experiencing tectonic shifts. The unipolar system of international relations that once served the interests of the so-called golden billion, is losing its relevance, replaced by a more just multi-polar world. Global economic patterns are changing faster. Everything indicates that the liberal globalisation model is becoming obsolete while the centre of business activity is gravitating towards developing markets, launching a powerful growth wave, including in the BRICS countries. To maximise the emerging prospects, it is important to intensify cooperation within the group, primarily in technology, effective resource development, logistics, insurance, trade and finance.

It is important to continue expanding the use of national currencies in mutual payments. It is believed that creating an independent payment and monetary system within BRICS will expedite currency transactions while also ensuring their effectiveness and security. Furthermore, using national currencies in trade within BRICS is steadily growing. In 2024, the share of Russia’s national currency, the ruble, and the currencies of our friendly states in transactions with Russia and other BRICS countries reached 90 percent.

Multiplying mutual capital investment by the BRICS countries, including through BRICS mechanisms, primarily, the New Development Bank appears to be an important goal as well. To this end, Russia proposed creating a whole new BRICS investment platform. The idea behind it is to jointly develop coordinated instruments to support and to bring in the funds from the economies of BRICS countries and from the Global South and Global East countries.

Importantly, our Brazilian colleagues were receptive of the initiatives put forward during Russia’s chairmanship last year and continued to implement them. The common achievements include launching a special mechanism for holding consultations on World Trade Organisation matters. The processes for creating a grain exchange, a climate research centre, a permanent logistics platform, and a sports cooperation programme in BRICS are moving forward.

Please note that there are other valuable ideas proposed by Russia, which include the formation of a carbon market partnership, an arbitration investment centre, a fair competition platform, and a permanent tax secretariat within BRICS. We count on our BRICS colleagues supporting these promising initiatives.

One more thing. In September, Moscow will host Intervision, a popular international television song contest which has got the attention of numerous performers from BRICS and BRICS partner countries who confirmed their willingness to participate in it. A humanitarian project of that magnitude is designed to promote universal, cultural, family, and spiritual values ​​shared by our countries.

I would like to close by thanking our colleagues from the BRICS member states for their productive and constructive interaction. We believe that the Rio de Janeiro Summit final declaration, which is ready for approval, provides a good premise for further joint work in the spirit of continuity and equal cooperation which is characteristic of BRICS.

Thank you.