Western countries are losing their leadership positions and are being replaced by new centers of growth, such as countries of the Global South, Russian President Vladimir Putin said on Tuesday.

In a video address to the second Open Dialogue International Forum in Moscow, Putin said that "a more complex, multipolar architecture of international development is taking shape."

"Countries which understand and appreciate the importance of national sovereignty in politics, economics, culture and social affairs are playing an increasingly prominent role in international affairs," said Putin.

Putin also noted that current global challenges require coordinated responses and joint efforts by all countries.

The global development model can be stable and just only when it is based on the principles of equality and mutual respect while taking into consideration the interests of all countries, he added.