E. Аrapova (firstname.lastname@example.org),
Moscow State Institute of International Relations (University) of the Ministry of Foreign Affairs of the Russian Federation, 76, Prosp. Vernadskogo, Moscow, 119454, Russian Federation
During 2017 BRICS Summit the Chinese government announced the idea to promote the “BRICS Plus” cooperation approach, encouraging closer partnership among the group of emerging markets and developing countries. The idea was fixed in the final declaration, but the mechanism of its implementation remains uncertain, as well as the list of participants. The paper aims at reflecting Russian approach to the implementation of the “BRICS Plus” concept and exploring direction of potential cooperation among the countries of the expanded format. The key idea underlying our projections is that all the BRICS countries are leading economies within one of the regional integration arrangements on their continents, so the member countries of these five integration blocks may form the ‘BRICS Plus circle’ for flexible and multi-dimensional cooperation. The implementation of the “BRICS+” idea may push interaction within a group of developing countries for strengthening stability and enhancing their role in the world economy. The new expanded format of “BRICS Plus” can serve as a platform for linking regional integration associations in two ways: (1) expansion of trade cooperation at the trans-regional level, gradual harmonization of foreign trade policies within five integration associations and (2) gradual shift of trans-regional agenda from trade cooperation to a wider range of areas. The author stresses, that in trade cooperation particular attention must be paid to the harmonization of technical regulations, as well as sanitary and phyto-sanitary standards. Besides, the expanded format of “BRICS Plus” may provide a network of bilateral currency swap agreements aimed at reducing dollar payments and stimulating settlements in national currencies. The system of currency swap agreements can be supplemented by the networks of interbank local currency credit lines agreements and harmonization of banking rules and procedures. The author concludes, that according to contemporary priorities of the developing countries and regional agendas of the five integration blocks the new directions of trans-regional cooperation may include (1) harmonization of e-commerce policies and creation of a common e-commerce information space (trans-regional e-Commerce platform) (2) inter-state cooperation in the interests of small and medium enterprises (3) creation of a consolidated technological platform at “BRICS Plus” level.
BRICS, “BRICS Plus”, international trade, regional economic integration, international financial cooperation, currency swap agreement, technological cooperation
1. 70th Session of the UN General Assembly. Vladimir Putin Speech. Available at: http://en.kremlin.ru/events/president/news/50385 (accessed 23.04.2018).
2. Summary of the Trans-Pacific Partnership Agreement. 2015. Available at: https://ustr.gov/about-us/policy-offices/pressoffice/press-releases/2015/october/summary-trans-pacific-partnership (accessed 15.08.2018).
3. Arapova E.Ya. Regionalizatsiya v Vostochnoi Azii v usloviyakh diversifikatsii istochnikov ekonomicheskogo rosta [Regionalisation in East Asia in conditions of diversification of economic growth sources]. Moscow, Prospekt, 2016. 232 p.
4. Wang Yi. “BRICS Plus” Pattern to Fully Release Vitality of BRICS Cooperation (2017). Available at: http://www.fmprc.gov.cn/mfa_eng/zxxx_662805/t1489003.shtml (accessed 03.05.2018).
5. China Invites Five Nations for Summit Under ‘BRICS Plus’, Denies Reports of Expanding Group. Available at: https://www.firstpost.com/world/china-invites-five-nations-for-brics-summit-denies-attempts-at-expanding-group-3989949.html (accessed 03.05.2018).
6. BRICS Summit 2016: BIMSTEC Members Have Economic Opportunities to Share, Said Narendra Modi. The Economic Times. Available at: https://economictimes.indiatimes.com/news/economy/policy/brics-summit-2016-bimstec-membershave-economic-opportunities-to-share-said-narendra-modi/articleshow/54883267.cms (accessed 13.05.2018).
7. BRICS Leaders Xiamen Declaration. Xiamen (China), September 4, 2017. Available at: http://www.mea.gov.in/Uploads/PublicationDocs/28912_XiamenDeclaratoin.pdf (accessed 28.04.2018).
8. Zheping Huang. “BRICS” Is Not Big Enough to Capture Xi Jinping’s Global Ambitions. Quartz, September 05, 2017. Available at: https://qz.com/1069532/brics-is-inadequate-for-xi-jinpings-global-ambitions-he-wants-brics-plus/ (accessed 03.05.2018).
9. BRICS Plus Format Summit not Related to Idea of Bloc’s Expansion – Brazil. Sputnik International, September 03, 2017. Available at: https://sputniknews.com/world/201709031057040199-brics-plus-expansion/ (accessed 03.05.2018).
10. Korybko A. India’s Freaking Out Over China’s “BRICS-Plus” Proposal. Regional Rapport, March 9, 2017. Available at: http://regionalrapport.com/2017/03/09/indias-freaking-chinas-brics-plus-proposal/ (accessed 10.05.2018).
11. Lissovolik Y. Re-Thinking the BRICS: on the Concept of BRICS+ and BRICS++. Valdai Discussion Club. February 07, 2017. Available at: http://valdaiclub.com/a/highlights/re-thinking-the-brics/ (accessed 30.04.2018).
12. Lissovolik Y. BRICS-plus: Alternative Globalization in the Making? World Economic Forum. Available at: https://www.weforum.org/agenda/2018/01/brics-plus-an-alternative-to-globalization-in-the-making (accessed 30.04.2018).
13. Lissovolik Y. BRICS-plus: Alternative Globalization in the Making? Valdai Papers, no. 69, July 2017. Available at: http://valdaiclub.com/files/14927/ (accessed 30.04.2018).
14. Regional Trade Agreements Information System (RTA-IS). WTO RTA Database. Available at: http://rtais.wto.org/UI/PublicMaintainRTAHome.aspx (accessed 30.06.2018).
15. Tariff Profiles. WTO Statistic Database. Available at: http://stat.wto.org/TariffProfile/WSDBTariffPFHome.aspx?Language=E (accessed 15.06.2018).
16. Treaty on the Eurasian Economic Union. 2014. 715 p.
17. Agreement on Trade in Goods of the Framework Agreement on Comprehensive Economic Co-operation between China and ASEAN. 2003. Available at: https://asean.org/?static_post=agreement-on-trade-in-goods-of-the-framework-agreementon-comprehensive-economic-co-operation-between-the-association-of-southeast-asian-nations-and-the-people-srepublic-of-china-4 (accessed 15.08.2018).
18. Agreement on Trade in Services of the Framework Agreement on Comprehensive Economic Co-operation between China and ASEAN. 2002. Available at: https://asean.org/?static_post=agreement-on-trade-in-services-of-the-frameworkagreement-on-comprehensive-economic-co-operation-between-the-association-of-southeast-asian-nations-and-thepeople-s-republic-of-china-2 (accessed 15.08.2018).
19. Treaty Establishing a Common Market between the Argentine Republic, the Federal Republic of Brazil, the Republic of Paraguay and the Eastern Republic of Uruguay. 1991. Available at: http://www.sice.oas.org/Mercosur/instmt_e.asp (accessed 15.08.2018).
20. Southern African Customs Union (SACU) Agreement. 2002. Available at: http://sacu.int/show.php?id=566 (accessed 15.08.2018).
21. Agreement on South Asian Free Trade Area (SAFTA). 2004. Available at: http://www.commerce.nic.in/trade/safta.pdf (accessed 15.08.2018).
22. I-TIP Goods: Integrated Analysis and Retrieval of Notified Non-Tariff Measures. WTO Database. Available at: https://i-tip.wto.org/goods/Default.aspx (accessed 29.04.2018).
23. Basel Committee Membership. Available at: https://www.bis.org/bcbs/membership.htm (accessed 25.04.2018).
24. Work Programme on Electronic Commerce. Adopted by the General Council on 25 September 1998. WTO. Available at: https://www.wto.org/english/tratop_e/ecom_e/wkprog_e.htm (accessed 15.08.2018).
25. Master Plan on ASEAN Connectivity. ASEAN. 2016. Available at: https://asean.org/storage/2016/09/Master-Plan-on-ASEAN-Connectivity-20251.pdf (accessed 15.08.2017).
26. Preferential Trade Agreement between the Common Market of the South (MERCOSUR) and the Southern African Customs Union (SACU). 2008. Available at: http://www.sacu.int/docs/agreements/2016/mercosur-and-sacu-trade-agreement.pdf (accessed 15.08.2018).
27. Brazilian Presidency of Mercosur Will Strengthen Integration and Foreign Agenda. BrazilGovNews, July 19, 2017. Available at: http://www.brazilgovnews.gov.br/news/2017/07/brazilian-presidency-of-mercosur-will-strengthen-integration-andforeign-agenda (accessed 28.04.2018).
28. Mercosur Summit Promotes Pact with Pacific Alliance. Xinhua Net. July 20, 2017. Available at: http://www.xinhuanet.com/english/2017-07/20/c_136457426.htm (accessed 28.04.2018).
Registered in system SCIENCE INDEX