Crypto Chat, News BRICS Achieves $1 Trillion in Internal Trade

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BRICS Achieves $1 Trillion in Internal Trade

The BRICS organization, comprising major economic players like Russia and China, has reached a significant milestone in its internal trade, surpassing $1 trillion. This achievement underscores the bloc's growing importance in the global economic landscape and its commitment to South-South cooperation independent of Western dominance.

Kirill Dmitriev, Special Representative of the Russian President for economic cooperation and CEO of the Russian Direct Investment Fund (RDIF), emphasized the significance of this milestone. He stated on his Telegram channel:
Internal trade of BRICS countries has reached $1 trillion. A major milestone, which confirms the strengthening of economic ties and the growing role of the association in the formation of a new architecture of global economy.
He also mentioned the ongoing efforts to enhance business connections through the BRICS Business Council, as directed by Russian President Vladimir Putin.

🗣 During the St. Petersburg International Economic Forum (SPIEF), Putin highlighted BRICS' substantial contribution to the global economy, stating:
BRICS makes up 40% of the global economy. And it’s obvious that this share will only continue to grow. This growth will primarily come from the dynamic countries of the Global South.
This statement reflects the bloc's ambition to establish a BRICS-Global South investment platform to facilitate foreign capital injection into its economies.

The recent disclosure of BRICS' internal trading figures comes amidst discussions between Russia and China about accelerating the development of this investment platform. As BRICS continues to strengthen its economic ties and expand its influence, it positions itself as a key player in shaping the future of global trade and economic cooperation.