Moscow: Speaking at the St. Petersburg International Economic Forum (SPIEF) 2024, Alrosa CEO Pavel Marinychev noted the formidable collective power of BRICS nations. Addressing a thematic session, Marinychev highlighted the significant economic clout of Brazil, Russia, India, China and South Africa (BRICS), which collectively represents 35% of the global GDP.

“BRICS is the institution where we can shape a common agenda, policy, and game rules to promote our interests around the world. Together, we are a force that cannot be ignored by anyone. Together, we must shape the principles and rules of free trade worldwide,” Marinychev stated.

The session’s main focus was the creation of a discussion platform between the African Diamond Producers Association (ADPA) and BRICS+. The key issues discussed at this platform included fair distribution of value added, attracting investments, R&D, and harmonisation of practices and knowledge transfer.