Putin Highlights BRICS Nations' Surge in High-Tech Exports at SPIEF
Vladimir Putin: ‘Since BRICS establishment, member states have significantly increased high-tech exports’
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At the 29th St. Petersburg International Economic Forum, Russian President Vladimir Putin announced that BRICS countries now account for over one-third of global high-tech exports, reflecting a shift in global economic dynamics and technological leadership. He emphasized the growing economic influence of BRICS in the global market.
- 01BRICS countries generated nearly 50% of global GDP growth in the last five years.
- 02High-tech exports from BRICS now represent over one-third of global supplies, with China leading in AI patents.
- 03Intra-BRICS trade turnover has surpassed $1 trillion, indicating a significant increase in economic cooperation among member states.
- 04Uzbekistan's partnership with BRICS includes a $50 billion project portfolio, focusing on nuclear energy and technological collaboration.
- 05Tanzania is positioning itself as a key investment destination in Africa, attracting $12 billion in foreign direct investment in 2025.
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During the 29th St. Petersburg International Economic Forum (SPIEF), Russian President Vladimir Putin stated that BRICS nations have significantly increased their high-tech exports, now comprising over one-third of global supplies. This development signals a shift in global technological leadership, with BRICS countries generating nearly half of the annual global GDP growth in recent years. Putin noted that BRICS accounts for about 40% of global GDP when measured by purchasing power parity and that the bloc's share of global merchandise trade has doubled. He highlighted the strong positions of member states in various sectors, including artificial intelligence, IT, and nuclear energy. Additionally, Uzbekistan's President Shavkat Mirziyoyev announced a nuclear power plant project in collaboration with Russia, while Tanzania's President Samia Suluhu Hassan emphasized Africa's potential as a growing economic force. The forum gathered representatives from over 130 countries, discussing global economic strategies and the importance of a multipolar world.
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The increasing economic collaboration among BRICS nations could lead to enhanced trade opportunities and technological advancements that benefit local economies.
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