MOSCOW – BRICS has the potential to become a key regulatory institution in the context of a new multipolar world order, Russian President Vladimir Putin said on Friday.

Global interest in the organization is steadily increasing, said the president during his speech at the Russian Foreign Ministry.

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Russia will aim to facilitate the smooth integration of new BRICS members into the association within the framework of the country's chairmanship, he added.

"The contours of a multipolar and multilateral world order are being shaped on the basis of this new political and economic reality, this is an objective process," said the Russian leader.

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The promotion of the principles of multipolarity in international affairs will enable countries to jointly solve the most complex global problems for the common benefit, he said.