MOSCOW, January 20. /TASS/. The contribution of BRICS countries to the global economy is growing while the share of G7 members goes down, Russian Prime Minister Mikhail Mishustin said at the strategic session on development of foreign economic activity.

Russia needs foreign economic activity to strengthen dynamics in many industries, expand the demand for Russian goods and services, and support new industrial projects and technology innovations. The country faces serious challenges in this sphere, such as mounting sanction pressure and escalation of tariffs, which amplified imbalances in international trade, the prime minister stressed.

"The weight of different countries in the global economy continues changing as well. The contribution of Global South and East, primarily BRICS countries, is growing, while the share of the Group of Seven is contracting," Mishustin noted.