EAEU and BRICS: State and Prospects of Cooperation

Saadat M. Assanseitova, Erlan K. Abil and Saida A. Makhatova

A chapter in Current Problems of the World Economy and International Trade, 2022, vol. 42, pp 161-173 from Emerald Group Publishing Limited

Abstract: The chapter examines the current state and prospects of cooperation between the Eurasian Economic Union and the BRICS members. Firstly, the chapter describes comparative analysis between the economic strategies, which represents the two associations facing similar challenges; set themselves similar goals and objectives to achieve sustainable economic growth. Also, the authors provide an empirical analysis of trade and economic cooperation between the EAEU and the BRICS countries, which shows different levels and dynamics of relations with each member of the BRICS. Furthermore, it is proposed to use new ‘soft’ formats, which, in the authors' opinion, will provide synergistic use of the fundamental platforms for dialogue created in the EAEU and BRICS to intensify cooperation and deepen practical interaction. Finally, the chapter concludes that the potential interaction between the two associations of developing countries would create positive prospects and new opportunities, subsequently accelerating their economic growth. Such consolidation of capabilities of these institutions would transfer such cooperation into a practical direction by implementing the goals defined in the strategic planning of the EAEU and BRICS countries.

Keywords: Economic integration; EAEU; BRICS; economic cooperation; economic strategy; international relations; international financial institutions; NDB; F02; F14; F15; F21; G24 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:eme:reanzz:s0190-128120220000042016

DOI: 10.1108/S0190-128120220000042016

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