Prospects for Creating a Free Trade Area between the BRICS Countries

Irina Yurievna Tkachenko and Sergey Vyacheslavovich Piskunov
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Irina Yurievna Tkachenko: Russian Foreign Trade Academy, Moscow, Russia
Sergey Vyacheslavovich Piskunov: Russian Trade Offi ce in South Africa (Ministry of Industry and Trade of Russia), Johannesburg, South Africa

Russian Foreign Economic Journal, 2022, issue 7, 30-51

Abstract: The article analyzes the prospects for creating a free trade area between the BRICS countries. The similarity of the economic agendas for the development of national economies related to the alignment of the economic profiles of the participating countries, allows us to see positive prospects for the transition from predominantly bilateral cooperation between the BRICS countries to full-fledged multilateral economic cooperation. The simulation model based on the data from the Purdue University’s Global Trade Analysis Project (GTAP) statistically confirms the validity of the proposal to establish a free trade area between the BRICS countries.

Keywords: Economic integration; BRICS; multilateral cooperation; the simulation model; free trade area (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:alq:rufejo:rfej_2022_07_30-51

DOI: 10.24412/2072-8042-2022-7-30-51

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