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Prospects for Creating a Free Trade Area between the BRICS Countries

Author

Listed:
  • 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)

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.

Suggested Citation

  • Irina Yurievna TKACHENKO & Sergey Vyacheslavovich PISKUNOV, 2022. "Prospects for Creating a Free Trade Area between the BRICS Countries," Russian Foreign Economic Journal, Russian Foreign Trade Academy Ministry of economic development of the Russian Federation, issue 7, pages 30-51, July.
    • Handle: RePEc:alq:rufejo:rfej_2022_07_30-51
    DOI: 10.24412/2072-8042-2022-7-30-51
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