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A GTAP Analysis of the Proposed BRICS Free Trade Agreement

Author

Listed:
  • Sharma, Sachin Kumar
  • Kallummal, Murali

Abstract

The negotiations for the BRICS FTA have made a significant progress with the four summit level meeting among proposed BRICS FTA. This study used the GTAP model on 57 tradable commodities and nine regions of the world to understand the likely impact of possible BRICS FTA. . In this study, 113 regions given in GTAP data base is mapped to nine regions namely Brazil, Russia, India, China, South Africa, ASEAN, USA, EU and Rest of the World by using GTAP database. This study updates the tariff protection for the nine regions and analyses the possible impacts on various indicators. A scenario of a full FTA between BRICS members is simulated using the GTAP model. Under this scenario, import protection within the BRICS member were removed but maintained between the Non­BRICS countries. Overall, the impact of proposed BRICS FTA would be positive for India as macroeconomics indicators (except trade balance) show positive change. However, at the disaggregate level, result vary across 57 sectors.

Suggested Citation

  • Sharma, Sachin Kumar & Kallummal, Murali, 2012. "A GTAP Analysis of the Proposed BRICS Free Trade Agreement," Conference papers 332245, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    • Handle: RePEc:ags:pugtwp:332245
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    File URL: https://ageconsearch.umn.edu/record/332245/files/5989.pdf
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