Trade cooperation of the BRICS countries in the context of the association expansion: Dynamics, obstacles and prospects

Abstract

Subject. This article focuses on the trade cooperation of the BRICS countries in the context of the association expansion. Objectives. The study aims to explore the dynamics, obstacles, and prospects for the trade cooperation development between the BRICS countries. Methods. For the study, I used general scientific methods, and methods of systematic, structural, comparative, quantitative and qualitative data analyses, grouping, classification, content analysis, scenario modeling, etc. Results. The article establishes that cooperation between the BRICS+ countries is developing mainly with the predominance of bilateral trade, and reveals that the possibilities of intra-block trade in a number of BRICS+ countries are still underestimated. It also systematizes the cooperation problems in the BRICS+ countries, and gives scenarios for the trade cooperation development between them. Conclusions. The dynamics, problems and prospects studied create new methodological foundations for improving the strategies for developing multilateral trade cooperation between the countries of the association and determining long-term guidelines for Russian foreign trade activities.