Trade and Economic Cooperation within the Framework of BRICS

Abstract

The article is devoted to trade and economic cooperation between Russia and the BRICS membercountries and trade cooperation within the BRICS Union. First, the authors study the peculiarities ofthe development of the BRICS member countries and the possibilities of their trade cooperation withinthe framework of this association. Trade and economic cooperation within the BRICS group is beingconsidered: structure of export and import supplies, dynamics of foreign trade turnover and features ofmutual trade. Authors consider the complementarity of the national economies of the BRICS countries,about the competitive directions of each of its countries in the provision of certain services. The focusis on the study of trade and economic cooperation between Russia and the BRICS member countriesin recent years. The article analyzes the export, import, and foreign trade turnover of Russia with each country of this organization. At the same time, all the calculations in the article are made independently based on statistical data. The authors identify the specifics of Russia’s trade cooperation within the BRICS grouping, draws relevant conclusions, and discusses the investment direction as a component of the growth of trade cooperation, the increase in foreign trade turnover, and GDP growth.

Keywords

• trade and economic cooperation
• the russian federation
• the brics member countries
• export
• import
• foreign trade turnover
• gdp
• mutual trade
• integration
• investment direction