Russian President Vladimir Putin said on Thursday that the economic bloc BRICS may establish its own parliament in the future. 

Addressing participants at the 10th BRICS Parliamentary Forum in St. Petersburg, Putin said regular meetings of lawmakers from BRICS countries will help the process of establishing a parliament.

"BRICS does not yet have its own institutionalized parliamentary structure. But I believe this idea will be realized in the future. Your forum, I am sure, will contribute to this," he asserted.

The Russian president praised lawmakers' efforts to forge ties between BRICS member countries and to address socioeconomic development issues, improve the well-being of nations, reduce international tension, and form "a more just, democratic, multipolar, and multilateral world order."

"The emergence of a world order reflecting the real balance of power and the new geopolitical, economic, and demographic reality is a complex process, often painful. This is primarily due to fierce resistance from the ruling elites of the so-called 'golden billion' states," he said.

Putin highlighted the pressure on those with independent positions, arguing that forceful coercion, unilateral sanctions, selective application of trade rules, and blackmail are being used contrary to international law.

Meanwhile, BRICS prioritizes positive changes in the global economy, focusing on boosting the share of national currencies in trade and investment, and developing safe and reliable financial instruments and mutual settlement mechanisms, he added.

On the sidelines of the forum, Putin held separate meetings with the heads of the Chinese and Tanzanian parliaments, Zhao Leji and Tulia Ackson, respectively.

BRICS, founded in 2009 with Brazil, Russia, India, and China, added South Africa in 2011, expanding its name, formed from the first letters of names of the founder countries, to BRICS.

Last December, six more countries joined the group, but it decided to keep its existing name.