BRICS internal trade has reached $1 trillion — Russian Direct Investment Fund chief

Internal trade of BRICS member states has reached $1 trillion, Special Representative of Russian President for economic cooperation with foreign countries, Chief Executive Officer of Russian Direct Investment Fund (RDIF) Kirill Dmitriev said.

"Internal trade of BRICS countries has reached $1 trillion. A major milestone, which confirms the strengthening of economic ties and the growing role of the association in the formation of a new architecture of global economy. We continue strengthening business ties, including through the BRICS Business Council, as requested by Russian President Vladimir Putin," Dmitriev said on his Telegram channel.

At the plenary session of the St. Petersburg International Economic Forum Putin invited Russia's partners, including BRICS members, to form a new global growth model, which is to replace the old mechanisms of the era of globalization and the West’s dominance.