BRICS Countries and Their Initiatives towards Regional Economic Integration

Iulia Oehler-Şincai

Revista de Economie Mondiala / The Journal of Global Economics, 2015, vol. 7, issue 4

Abstract: The main purpose of this paper is to bring to the forefront the projects of regional integration sustained by Brazil, Russia, India, China and South Africa (BRICS) and underline the deeper motivations of these countries to be in favour of regional integration. The reasons of economic nature are as strong as the geopolitical ones, as the latter lead to a real consolidation of their position as regional leaders, with a direct impact on their worldwide influence. Our analysis highlights also a series of economic and political weaknesses of the BRICS partners, which generates protectionist stances and therefore the obstruction of the regional integration process.

Keywords: BRICS; regional integration; free trade agreements; Common Market of the South (MERCOSUR); Eurasian Economic Union (EAEU); Regional Comprehensive Economic Partnership (RCEP); African Union; South African Development Community; Tripartite Free Trade Area (search for similar items in EconPapers)
JEL-codes: F13 F14 F15 F53 O24 (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:iem:journl:v:4:y:2015:id:2822000009561055

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