MOSCOW, June 5 (Xinhua) -- Russian President Vladimir Putin said Friday that the global trading system is becoming less West-centric, citing the growing role of BRICS countries in world trade.
Speaking at a plenary session of the 29th St. Petersburg International Economic Forum, Putin said the share of BRICS countries in global merchandise trade has more than doubled over the past 25 years.
Last year, BRICS countries accounted for nearly a quarter of global exports, and this figure continues to grow steadily, he said.
Putin added that trade turnover among BRICS member states increased over the past year and now exceeds 1 trillion U.S. dollars annually.
According to the Russian president, international trade is becoming more efficient through the expansion of direct supplies without unnecessary intermediaries, the development of settlements in national currencies, and the opening of new logistics routes.
