Western countries ruining system of trade, financial ties

"We see how the global economy has changed and continues to change in recent years, in part because some countries, primarily Western countries, of course, with their own hands are wrecking the system of financial, trade and economic relations, which they themselves worked to create and build in many respects," he said at the forum’s plenary session.

He added it’s important that in this context there’s an expanding space in the world for genuine business cooperation between nations that do not submit to any external pressure but follow their own national interests. Putin said there is a growing number of such countries in different parts of the world.

"They give priority in their activities, their policies not to some short-lived issues of current politics, but the advancement of their own projects in the field of transportation, energy, industry, finance, in the humanitarian area - projects that bring direct long-term benefits to the peoples of these countries," the Russian president said, TASS reported.

Putin noted that’s how "a new model of relations and integration is being born, but not according to Western models for the chosen 'golden billion,' but for the whole of humanity, for the entire functioning and developing multipolar world."

He said he is convinced that this model helps the creative energy of openness and focus on concrete results to become a powerful competitive advantage of the Asia-Pacific region and a key factor that will define the global leadership of this region in terms of economic growth for a long time.