Russia is working with fellow members of the group to create a system of equal and mutually beneficial partnership, the president said

Russian President Vladimir Putin has hailed cooperation between BRICS members, stating that Moscow plans to continue working with participants of the group to develop a system of equal international cooperation.

BRICS was established in 2009 by Brazil, Russia, India, and China, with South Africa joining in 2010.The bloc later expanded to include Egypt, the United Arab Emirates, Ethiopia, Indonesia, and Iran.

"Together with our partners, primarily within the BRICS association, we intend to continue working to build an effective system of equal and mutually beneficial international cooperation - free from all forms of discrimination, dictate, and sanction pressure," Putin said on Monday in a greeting letter addressed to participants, organizers, and guests of the St. Petersburg International Economic Forum (SPIEF).

This year's SPIEF opens on June 18 and runs through June 21. The 28th annual event is expected to attract thousands of participants from Armenia, Africa, Bahrain, Vietnam, the EU, India, Kazakhstan, Kyrgyzstan, China, Latin America, Moldova, Mongolia, Thailand, and Uzbekistan, as well as members of the Eurasian Economic Union and the Association of Southeast Asian Nations.

In 2024, BRICS grew to account for 40% of the world's economy in Purchasing Power Parity (PPP) terms, according to IMF data. The bloc's members now represent more than two-fifths of the global population.

Last year, speaking at a meeting of BRICS security representatives in St. Petersburg, Putin noted that 34 nations had expressed interest in joining or cooperating with the group in one form or another.

Earlier this year, Russian Foreign Minister Sergey Lavrov stated that the economic bloc had become a leading platform for aligning the interests of the global majority. He emphasized that BRICS continues to attract countries from the Global South and East, as many "seek equal and mutually beneficial partnerships for the sake of joint development."

(RT.com)