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BRICS growing in numbers, with entire market potential in them — Novak

The growing role of BRICS countries will require implementation of new investment projects to support high rates showed by the countries for the economic growth, the deputy prime minister said

SOCHI, October 6. /TASS/. The number of BRICS countries is growing and the entire market potential is concentrated exactly in them, Russian Deputy Prime Minister Alexander Novak told reporters on the sidelines of the Valdai Discussion Club.

"We will have relations developing with BRICS countries, especially that the number of countries is growing and the capacity of, so to say, this BRICS countries market is rather high. Speaking about the future, almost the whole potential of economic growth is concentrated exactly in BRICS countries. Already for the time being, as it was mentioned at the [BRICS] Summit, BRICS countries account for 36% of the whole global economy, while the share is about 30% for G7 countries," Novak said.

The growing role of BRICS countries will require implementation of new investment projects to support high rates showed by the countries for the economic growth, the deputy prime minister said. "It is impossible to close one large country in terms of the global economy. Russia is actually the fourth global economy; it cannot be isolated," Novak stressed.