Countries of the Global South are playing an increasingly significant role in the global economy, with trade in goods and services between them expanding considerably, stated Maxim Oreshkin, Deputy Chief of Staff at the Russian Presidential Executive Office.
Speaking at the opening of the January Expert Dialogues, Oreshkin noted that by 2025, the share of G7 countries in the global economy had fallen to 28%, while the share of the BRICS nations had risen to nearly 40%.
He emphasised that economic integration among the Global South countries is strengthening significantly.
"The BRICS nations are starting to trade directly with one another, bypassing third parties," Oreshkin added.
He also observed that the BRICS countries are climbing noticeably in global rankings in terms of their contribution to technological development.
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