Revisiting the R5 Paradigm

... integration initiative is the African Continental Free Trade Area launched in 2018. Another important development is the rising 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 periods via the expansion in the membership of the BRICS New Development Bank (NDB). In particular, among the new members of NDB is United Arab Emirates whose currency could be used in mutual settlements within ...