... think-tank that explores the potential of the BRICS+ format in the global economy. Previously he worked as chief economist and head of research in Deutsche Bank Russia, the Eurasian Development Bank as well as Sberbank. He also worked as an Advisor to Russia’s Executive Director in the International Monetary Fund. In the beginning of 2017 he developed the BRICS+ concept based on the model of economic cooperation among the regional integration blocks of BRICS economies. In the same year he also advanced the R5 initiative that targeted greater use of BRICS national currencies and the creation of a common ...
... of officials from BRICS countries. In fact, it could be the case that the BRICS+ space is intentionally left blank to leave open the scope for multiple formats to be pursued in the coming years.
One insight into how BRICS countries are looking at the BRICS+ format came from Russia. In the beginning of 2018, Russia’s Deputy Foreign Minister S. Ryabkov declared, “We suggest that our partners consider BRICS+ as a platform for developing what could be termed an ‘integration of integrations’.” In other words, Russia’s ...
... global agenda. It is also important that such a platform is not majority controlled by any single one region or country. In this respect, the co-integration of the Eurasian Economic Union and China’s BRI may be a useful tool of rendering China’s and Russia’s infrastructure projects more harmonized, but a common globalization framework requires a broader platform. Such a platform may be represented by the BRICS+ framework that brings together the main regional integration blocs from the developing world and their development institutions.
More generally, what is of concern in the “new globalization race” is the competitive if not opposing nature of ...
... It is unknown, whether these countries will become permanent partners. However, the process was launched.
From China’s point of view, BRICS is a valuable platform for the development of South-South cooperation within the developing world. Although Russia is historically a country of the North, it doesn’t deny this idea of BRICS. We hope that this experiment will be successful too, because BRICS+ and BRICS++ concepts are not limited to a one-time dialogue, but imply formation of a mechanism for permanent institutional interaction of partner states with the main BRICS members in the following years, both in general political format, and ...
