... in the global economy. One proposal in this regard has been the BEAMS platform, which brings together the primary regional integration blocks of the BRICS countries, namely BIMSTEC (India), Eurasian Economic Union (Russia), African Union (South Africa), MERCOSUR (Brazil), and SCO (China). The benefits of creating such a BRICS+ platform are manifold, including the multiplier effect that this format achieves with regard to the outreach of BRICS to the remainder of the developing world. Moreover, this format enables BRICS to progress ...
... the two regional blocs.
In particular
, “the Secretary for International Economic Relations, Jorge Neme, chaired the first Mercosur-African Union Meeting, aimed at strengthening relations between the blocs, renewing political ties, further reinforcing ... ... mechanisms and fostering economic relations”.
The more complicated steps will involve the incorporation of Asia, most notably China, into the common South-South FTA platform. The difficulty emanates from the fragmentation of the regional integration patterns ...
... integration initiatives across the Global South. In particular there is the Regional Comprehensive Economic Partnership (RCEP) led by China and the ASEAN economies. In Africa the key integration initiative is the African Continental Free Trade Area launched in ... ... coordination among the regional integration blocks and the signing of the respective memoranda between the Eurasia Economic Union, MERCOSUR and ASEAN.
The possible scope for the use of national currencies within the R5 paradigm has also been broadened in recent ...
... arrangements and their development institutions where BRICS countries are members. Such a platform could have the BEAMS concept as its core — namely cooperation among the key regional integration initiatives of BRICS economies such as BIMSTEC, EAEU, ASEAN-China FTA, Mercosur and SADC/SACU. This circle of cooperation could be
complemented
by platforms between regional development banks/regional financing arrangements and NDB/BRICS CRA respectively.
One of the ways to upgrade/modernize this BRICS+ concept into a “BRICS+ ...