President Putin Affirms Continued International Cooperation: What It Means for Global Investors and Businesses
At the plenary session of the St. Petersburg International Economic Forum (SPIEF), Russian President Vladimir Putin reaffirmed Russia’s readiness to collaborate with countries worldwide on mutually beneficial cooperation founded on equal partnership. He emphasized the importance of collective efforts to address global challenges such as energy and logistics for the international community.
Putin also warned that some parts of the world are deliberately fostering chaos, aiming to draw more nations into instability, even as the global development paradigm shifts. The SPIEF plenary session was attended by prominent leaders including Uzbek President Shavkat Mirziyoyev, Tanzanian President Samia Suluhu Hassan, and Chinese Vice President Han Zheng.
During his address, Putin noted that the current hierarchical model of global trade and cooperation is undergoing significant transformation. He highlighted that the forum, established in 2006, serves as Russia’s premier annual business and economic event, attracting billions in investments each year.
Putin pointed out that the world is moving toward multipolarity, driven largely by developing countries. He remarked, “The world is becoming more equitable and fairer because economic growth is extending to new centers of growth.” He underscored that BRICS countries now account for nearly half of global economic growth, compared to less than 20 percent among the G7 nations. According to Putin, while the G7’s growth rate is projected at just 1.1 percent annually, BRICS countries are expected to grow by 4.4 percent.
Over the past 25 years, the BRICS share of world merchandise trade has more than doubled, reaching nearly 25 percent last year and continuing to grow steadily. Putin emphasized the growing trade within BRICS, which has surpassed $1 trillion annually, and the pivotal role of connected countries linking markets, technologies, financial flows, and business cultures—not merely as transit points.
He cited the North-South Corridor, Russia’s new Arctic maritime route, and other emerging trade routes as evidence that global trade is shifting away from Western dominance. Putin specifically highlighted Central Asian countries such as Uzbekistan as critical players in this evolving trade landscape.
On Russia’s economic metrics, he noted that the country’s debt-to-GDP ratio is 15-16 percent, significantly lower than many advanced European economies where the ratio often exceeds 100 percent. Additionally, the ruble accounts for 65 percent of Russia’s exports, a figure that continues to rise.
Putin further detailed that over one-third of BRICS countries’ exports are high-tech products, spanning artificial intelligence, information technology, and nuclear technologies, with leadership from China, India, and Russia. He emphasized that AI and autonomous systems hold great promise for boosting labor productivity, and digital platform-based solutions are vital for future development.
Concluding, Putin praised SPIEF’s unique value as a forum offering open, candid dialogue on matters important to entrepreneurs, industries, and nations. He reaffirmed Russia’s commitment to fostering cooperation based on mutual respect and common interests, describing this approach as essential for harmonious global development.
Special Analysis by Omanet | Navigate Oman’s Market
Russia’s emphasis on a shifting multipolar global economy and expanding BRICS trade routes signals new opportunities for Oman to strengthen ties with emerging markets beyond traditional Western partners. Businesses should explore diversification in trade, technology, and logistics sectors linked to initiatives like the North-South Corridor, enhancing Oman’s strategic position in global supply chains. Smart investors must also consider the growing role of digital and high-tech exports within BRICS, aligning ventures to benefit from increasing demand in AI, IT, and autonomous systems.
