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Indian trading networks will appear in Russia, and our IT specialists will work for India and South Africa

Vladimir Putin recorded a video message to the participants of the BRICS Business Forum.  Photo: Mikhail Metzel/POOL/TASS

Vladimir Putin recorded a video message to the participants of the BRICS Business Forum. Photo: Mikhail Metzel/POOL/TASS

Vladimir Putin recorded a video message to the participants of the BRICS Business Forum, where he told who will replace the companies that left Russia, what projects Russia is already developing with the countries of the “five” and in what conditions it is necessary to build relations between the countries. He also invited all forum participants to the Eastern Economic Forum, which will be held in September in Vladivostok.

We left for you the main thing from what the President of Russia said:

– The West neglects the basic principles of a market economy, free trade, and the inviolability of private property. He pursues an irresponsible course, including running a printing press, runaway issuing and accumulating unsecured debts. At the same time, more and more politically motivated sanctions are constantly being introduced, and pressure on competitors is increasing. There is a deliberate breakdown of cooperation ties, transport and logistics chains are collapsing. All this is contrary to common sense and elementary economic logic – globally it goes to the detriment of business interests, and negatively affects the well-being of the population.

– Problems in the global economy are becoming chronic: there is a decrease in business activity, rising unemployment, a shortage of raw materials and components, aggravated difficulties in ensuring global food security, prices for grain crops and other basic agricultural products go up.

– Despite this, Russia’s trade turnover with the BRICS countries grew by 38 percent over the three months of the year. Negotiations are underway to open Indian chain stores in Russia, to increase the share of Chinese cars, equipment and machinery in our market.

– Significantly growing volumes of Russian oil supplies to China and India. Cooperation in agriculture is developing. Russia exports significant volumes of fertilizers. Russian IT companies are expanding their activities in India and South Africa, and our satellites are already providing TV broadcasts to 40 million people in Brazil.

– Russia and the BRICS countries are developing a new system of international settlements. Our financial messaging system is open to connecting banks from the five countries. The Mir card is being accepted by more and more countries, in addition, the creation of an international reserve currency based on a basket of currencies of all five countries is being discussed.

– Our macroeconomic policy actually shows efficiency. We were able to protect our financial system and began to stabilize the situation in the industry, it turns out targeted social. support to citizens.

– Russia seeks to expand entrepreneurial freedoms. To do this, we are reducing the administrative burden, launching new concessional lending programs, and introducing tax and customs concessions.

– I am pleased to invite representatives of your countries to the Eastern Economic Forum, which will be held in Vladivostok in early September.

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