The global economy is undergoing changes largely due to certain Western countries destroying the financial relations system, Russian President Vladimir Putin said on Tuesday.

"We know and can see how the global economy has changed and is continuing to change in recent years due to the fact that some countries, primarily Western ones, are destroying the system of financial, trade and economic relations that they themselves built," Putin said during his speech at the plenary session of the 8th Eastern Economic Forum (EEF).

He said genuine business cooperation between those states that choose not to succumb to external pressure and pursue their own national interests is expanding, adding that there is a growing number of such states in different regions of the world.

Putin went on to say that "we are witnessing a new emerging model of relationships and integration – and not by Western patterns, for the elite, for the chosen 'golden billion,' but for the entire humanity and the entire existing and developing multipolar world."

This model offers creative energy, openness and focus on a specific outcome as a powerful competitive advantage of the Asia-Pacific region, a key factor that determines and, I am sure, will determine for a long time its global leadership in economic growth, he added.

The Russian Far East city of Vladivostok welcomed thousands of participants for the 8th EEF on Sunday to promote economic and cultural exchanges among the regions of the Asia-Pacific.

The four-day EEF is organized by the Roscongress Foundation. Themed "On the Way to Cooperation, Peace and Prosperity," it has served as an important venue for dialogue among politicians, business executives and experts for Far East development and regional cooperation.

(With input from Xinhua)