BRICS' share of global GDP exceeds 40% and will continue to grow — Russian official

ST. PETERSBURG, April 2. /TASS/. The BRICS countries' share of global GDP has exceeded 40% and the trend toward the bloc's strengthening in the global economy will continue, Russian Presidential Administration Deputy Chief of Staff Maxim Oreshkin said at the International Transport and Logistics Forum in St. Petersburg. "Changes in the logistics now are based on the way economic activity is changing around the world. "We see that this trend is not new? it's been around for decades, since the beginning of the 21st century. Of course, it is a shift in the center of economic power toward new economies. Today, the BRICS economies already account for more than 40% of global GDP. And we see that this trend toward this bloc's strengthening in the global economy will only continue," he said. He noted that the rapidly growing countries of Southeast Asia, which played a key role in economic growth in the first quarter of this century, will be joined by countries in South Asia and Africa. "And all of this will lead to the future of trade being trade between countries of the Global South, between the BRICS countries. This means that the need for logistics is also changing. Different channels, different transport and logistics corridors," he said. Oreshkin noted that these changes are not going easily because the old forces of the global economy do not want to lose their role in international trade, nor their role in supporting international trade, in terms of finance, insurance, and logistics services. "But this trend is inevitable. Inevitably, new players will emerge to replace the outdated old paradigm, the outdated old players, new players from the BRICS countries. New players from the Global South. New corridors will open," said the Deputy Chief of Staff of the Presidential Executive Office," he said. As Oreshkin noted, all of this will occur based on new technological solutions and platforms. "This change is fundamental and inevitable," he added.