BRICS Economic Collaboration
This Study, "BRICS Economic Collaboration: Unlocking Shared Growth and Prosperity," examines the trade and industrial complementarities among BRICS member nations, identifying opportunities to deepen intra-BRICS trade, investment and economic cooperation. With the group’s expansion to eleven members (Brazil, China, Egypt, Ethiopia, India, Indonesia, Iran, Russia, Saudi Arabia, South Africa, and the United Arab Emirates), the potential for collaboration has grown substantially, spanning resource-rich economies, manufacturing powerhouses, and emerging technology hubs.
Key Takeaways
- The study highlights that the next phase of BRICS cooperation should focus on translating the grouping’s economic and industrial complementarities into practical outcomes.
- Strengthening regional and cross-border value chains can help member economies build greater resilience against geopolitical and supply chain disruptions, while closer cooperation on critical minerals can support strategic industries and the transition towards clean energy and advanced manufacturing.
- There is also significant scope to deepen digital co-operation through paperless trade, helping reduce transaction costs and enabling wider participation by businesses, particularly MSMEs.
