CARACAS, October 17. /TASS/. Venezuela wants to be part of global economic powerhouse BRICS, Delcy Rodriguez, Executive Vice-President and the oil minister of the Republic, said.

"Today <...> the largest contribution to the global economy comes from the BRICS nations," she said in a speech broadcast on Venezolana de Television, a local TV channel. "That is why President [of Venezuela Nicolas] Maduro is fighting for [the interests of] the country, for it to join the community that reflects different realities based on the new principles of international relations."

According to Rodriguez, the US and European Union members no longer play a decisive role in the global economy. In contrast to Western countries, the BRICS nations do not seek to impose their own interests through "extortion and blackmail" and stand for equitable relations between sovereign states, the politician stressed.

Earlier in October, Russian Prime Minister Mikhail Mishustin said that the share of BRICS in world GDP is expected to increase to 38% by 2028, while the Group of Seven (G7) figures will further decline.

BRICS was founded in 2006 by Brazil, Russia, India and China, with South Africa joining it in 2011. On January 1, 2024, Egypt, Iran, the United Arab Emirates, Saudi Arabia and Ethiopia became the group’s full members.

On January 1, 2024, Russia took over the BRICS’ yearlong presidency. It features more than 200 various events. The BRICS summit in Kazan on October 22-24 will be the association’s main event during Russia’s presidency.