00:00 Ladies and gentlemen, dear friends, I'm pleased to greet the government and business representatives,
00:07 experts and industry specialists who have gathered to this meeting of the BRICS Business Forum.
00:15 I would like to note that holding such business forums on a regular basis, along with the systematic work of the BRICS Business Council,
00:26 which brings together top businessmen and heads of major companies of the five countries,
00:33 plays an immense practical role in promoting mutual trade and investment, enhancing cooperation ties,
00:42 and expanding direct dialogue among business communities.
00:49 And that effectively contributes to accelerated socio-economic growth of our states and achievement of sustainable development goals.
01:00 It is important that this forum focuses on such pressing issues as the post-pandemic economic recovery of the BRICS states,
01:11 improvement of citizens' well-being, industrial modernization, development of efficient transport and logistics chains,
01:23 stimulation of equitable technology transfers.
01:28 These challenges and complex tasks have to be dealt with amidst the increasing volatility in stock, currency, energy and food markets,
01:42 coupled with strong inflationary pressures stemming from inter alia the irresponsible large-scale money emission by a number of countries
01:59 seeking to mitigate the effects of the pandemic, which has led to the accumulation of private and public debt.
02:07 International economic situation is also seriously affected by the illegitimate sanction practice and illegal freezing of assets of sovereign states,
02:20 which essentially amounts to the tramping upon all the basic norms and rules of free trade and economic life,
02:30 norms and rules that not so long ago seemed immutable.
02:35 Resource shortages, increased inequality, rising unemployment and degradation of other chronic problems of the world economy are the direct consequences.
02:48 Crisis for food, basic agricultural products and crops have skyrocketed, and it is the most vulnerable poor countries that are hit hardest.
03:01 Importantly, and in this circumstance, the BRICS states have stepped up their interaction,
03:07 and our joint work to ensure economic growth and sustainable development brings concrete, tangible results.
03:18 More and more joint projects are launched. Mutual trade is growing, industry contracts are expanding.
03:30 Above all, our cooperation is based on the principles of equality, partner support and respect to each other's interests.
03:39 And that is what is the core of our association's forward-looking strategic course,
03:46 the course that reflects the aspiration of the larger part of the international community, so-called global majority.
03:57 The figures speak for themselves. Over the last decade, mutual investments among BRICS states have increased sixfold.
04:09 Their overall investment in global economy have doubled, and their total exports have reached 20% of the world's exports.
04:25 As for Russia, the trade volume with the BRICS partners has increased by 40.5%, and reaching the record of 230, even more than 230 billion.
04:43 And the first half of this year grew by 35.6%, as compared with the same period in 2022, and it reached 134.7 billion US dollars.
05:00 I would also like to point out that the share of the BRICS countries, with their population totaling more than 3 billion people, now accounts to nearly 26% of the global GDP.
05:14 And our five countries are ahead of G7 in terms of purchasing power parity, with 35.1% against, 30% forecast for 2023.
05:29 The objective and irreversible process of de-dollarization of our economic times is gaining pace. We are working to fine-tune effective mechanism of mutual settlement and monitoring financial control.
05:47 As a result, the share of US dollar export and import operations within BRICS is declining. Last year, it was only 28.7%.
06:01 In fact, this summit is to discuss in detail the entire range of issues related to the transition to national currencies in all areas of economic cooperation between our five nations.
06:17 The new BRICS development bank, which has already become a credible alternative to existing Western development institutions, has a great role to play in these efforts.
06:33 It is only natural that enhancing connectivity and creating new resilient transport routes has become a shared priority in cooperation between our five countries.
06:46 In this context, the BRICS Business Council's initiative to elaborate modern intermodal logistics solutions and develop railway transport corridors is of particular importance.
07:01 For this part, Russia actively works to redirect its traffic and logistics flows to reliable foreign partners, including BRICS states.
07:13 Our flagship projects include the Northern Sea Route and the new international North-South Transport Corridor.
07:24 These two major transport routes aim to provide the shortest and most cost-effective trade routes to link major industrial agricultural energy hubs with consumer markets.
07:43 With regards to the Northern Sea Route, I would like to emphasize that Russia has already adopted and launched a large-scale, multi-year plan to develop its infrastructure.
07:56 We intend to build fuel terminals, hub ports to ensure connections with road and rail transport.
08:07 Our icebreaking fleet is expanding, first of all by commissioning nuclear-powered vessels that have no analogue in the world.
08:16 As for the North-South Transport Corridor, it will connect Russian ports of the Northern Seas and the Baltic and with offshore terminals in the Persian Gulf and Indian Ocean, thereby providing opportunities to increase cargo transportation between Eurasian and African countries.
08:40 Besides, this will certainly give impetus to developing new industrial, trade and logistics facilities along those routes.
08:56 Russia stands for greater cooperation within the BRICS on reliable and uninterrupted supplies of energy and food resources to the world markets.
09:09 We are consistently increasing supplies of fuel, agricultural products and fertilizers to countries of the Global South and making a significant contribution to strengthening global food and energy security, addressing acute humanitarian issues and fighting hunger and poverty in the countries in need.
09:33 All these issues, in particular, were discussed in depth at the recent Russia-Africa Summit.
09:40 For example, last year, trade in agricultural products between Russia and the African states grew by 10% and amounted to $6.7 billion.
09:52 In January, June this year, it increased by another record 60%.
10:00 Our country is and will remain a responsible supplier of food to the African continent.
10:09 Russian grain exports to Africa amounted to 11.5 billion tons in 2022 and almost 10 million tons in the first six months of 2023.
10:25 And this is despite the unlawful sanctions imposed on us that seriously hinder the export of Russian food products and complicated transport, logistics, insurance and bank payments.
10:42 Russia is being deliberately obstructed in the supply of grain and fertilizers abroad and at the same time we are hypocritically blamed for the current crisis situation in the world market.
10:56 This has been clearly seen in the implementation of so-called grain deal concluded with the participation of U.N. Secretariat and initially aimed at ensuring global food security, reducing the threat of hunger and providing aid to the poorest countries.
11:16 We have repeatedly drawn attention to the fact that in a year under the deal, a total of 32.1 million tons of corn has been exported from Ukraine, of which over 70% have reached high and upper middle income countries, including the European Union, first of all.
11:43 And only about 3% have gone to the least developed countries, less than 1 million tons.
11:52 None of the terms of the so-called deal concerning the lifting of sanctions imposed on Russian exports of grain and fertilizer to world market have been fulfilled.
12:06 Obligations to Russia in this regard have been simply ignored.
12:11 Even our free transfer of mineral fertilizers blocked in European ports have been obstructed.
12:19 In fact, that is purely humanitarian campaign that should not in principle be subject to any sanctions.
12:28 With these facts in mind, since 18 July we have refused to further extend the so-called deal.
12:37 And we will be ready to get back to it, but to get back only if all obligations to the Russian side are truly fulfilled.
12:47 I have repeatedly said that our country has the capacity to replace Ukrainian grain both commercially and as free aid to needy countries, especially since our harvest is again expected to be perfect this year.
13:04 As a first step, we have decided to graciously provide to six African countries 25 to 50 thousand tons of grain, each with free delivery of these cargoes.
13:23 Negotiations with the partners are going to an end.
13:27 Among the priority lines of interactions, we see also further coordination of the approaches of the BRICS participants on the subject of supporting small and medium-sized enterprises.
13:40 This is an important part of the overall economic agenda of the Group of Five, which implies the assistance of the widest circles of citizens involved in business regarding the issues of administrative and tax regulation, digitalization, electronic commerce and participation in the value chains.
14:01 I would note that thanks to the state support programs, the entrepreneurs from the BRICS countries successfully adapt to the constantly changing situation in the global market.
14:14 They find new partners, new sales channels, attract additional funding and use more actively modern technologies.
14:26 It is equally significant to continue to develop cooperation within the BRICS countries in the field of decarbonization, of economy reduction, of man-induced impact on the nature and adaptation to the changing of climate.
14:41 Russia is ready to work jointly to promote more balanced approaches to the climate change in the international arena.
14:50 Our country is consistently implementing the national low-carbon development strategy.
14:57 We plan to reach the carbon neutrality of the Russian economy not later than 2060, including through the introduction of technological innovations, modernization of infrastructure for access to affordable and clean energy, conservation of ecosystems on land and sea.
15:19 We believe that the implementation of the climate goals can be facilitated by a variety of technologies, including those that have been in use for a long time already, such as nuclear generation, hydropower, gas and motor fuel.
15:37 To sum it up, I would like to reiterate that the multifaceted partnership and cooperation within the BRICS not only makes a significant contribution to ensuring sustainable growth of our states,
15:54 but also generally promotes the healthy global economy and successful achievement on the global development goals and targets set by the UN to fight poverty, expand people's access to quality health care, eradicate hunger and improve food security.
16:17 Therefore, I am confident that the BRICS Business Forum and Business Council will continue their creative work aimed at the improvement of contacts between the entrepreneurial circles of the countries of the Group of Five and joint implementation of mutually beneficial projects.
16:39 In conclusion, I would like to invite representatives of the business circles to our countries to come to the Eastern Economic Forum in Russia that will take place on 10 to 13 September in the city of Vladivostok, where by tradition there will be discussions of issues that are of interest, including the business community of the BRICS countries.
17:05 Thank you very much for your attention.
17:07 [APPLAUSE]
