..., thus creating integration platforms 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 ...
... start of the year 2023 was marked by a series of statements coming from representatives of BRICS countries concerning plans to create new currencies. In particular, Brazil’s President Lula called for the creation of common currencies among BRICS and MERCOSUR countries, while Russia’s Foreign Minister Sergey Lavrov stated that the creation of the BRICS common currency would feature in the discussions at the BRICS summit to be held in South Africa this year. And even as a lot of these changes in the international monetary ...
... One of the most powerful drivers here is the rise in China’s share of global trade, most notably within the Global South. In Russia’s case there is the record-high level of trade turnover with China in 2021 at nearly 150 bn US dollars after a rise by ... ... 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 ...
... advance common initiatives in the sphere of economic integration, since the majority of BRICS economies now conduct their trade policy only in the framework of their respective regional integration arrangements. This is the case in particular with Brazil (MERCOSUR), Russia (EAEU), South Africa (SADC/SACU). To put this more bluntly, the regional BRICS+ format is the only feasible platform for economic integration alliances to be finally launched among the BRICS countries after an extended period of limited economic ...
... supply chain and the rapidly growing digitization of global trade that now involves millions of customers make this issue a priority.
Vectors of Collaboration between the Leading Countries in the EAEU and MERCOSUR
The research activities of individual MERCOSUR countries, for example Brazil (the organization’s economic leader), creates opportunities for implementing joint investment projects (for instance, in the mining industry).
“Joint manufacturing of machine tools in Russia is another promising cooperation
project
that in which Russia is greatly interested.”
However, some experts note [
2
] that the positive dynamics in the export of technological solutions is very weak due to the outdated contractual framework ...
