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Putin proposes creating new BRICS investment platform

The Russian leader believes that the trend towards maintaining the BRICS' leading position in the global economy will be strengthened primarily due to objective factors such as population growth, capital accumulation, urbanization and increased labor productivity

KAZAN, October 23. /TASS/. Russian President Vladimir Putin has proposed creating a new BRICS investment platform to support national economies and countries of the Global South and East.

"We propose creating a new BRICS investment platform, which would become a powerful tool for supporting our national economies, and would also provide financial resources to countries of the Global South and East," the Russian leader said at a meeting of the BRICS summit in an expanded format.

Putin believes that the trend towards maintaining the BRICS' leading position in the global economy will be strengthened primarily due to objective factors such as population growth, capital accumulation, urbanization and increased labor productivity, accompanied by technological innovations.

"In order to maximize the potential of our growing economies and take full advantage of the new wave of global economic growth, our countries need to step up cooperation in areas such as technology, education, efficient development of resources, trade and logistics, finance and insurance, and also multiply the volume of capital investment," he stressed.

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