... in the global economy. One proposal in this regard has been the BEAMS platform, which brings together the primary regional integration blocks of the BRICS countries, namely BIMSTEC (India), Eurasian Economic Union (Russia), African Union (South Africa), MERCOSUR (Brazil), and SCO (China). The benefits of creating such a BRICS+ platform are manifold, including the multiplier effect that this format achieves with regard to the outreach of BRICS to the remainder of the developing world. Moreover, this ...
... and regional organizations in which BRICS/BRICS+ countries are members. The nucleus of this format may be based on the cooperation among the key/priority regional projects of BRICS members: BIMSTEC (South Asia), Eurasian Economic Union, African Union, MERCOSUR (Latin America), Shanghai Cooperation Organization (Asia). Such a format has the benefit of being significantly more inclusive with respect to the small- and medium-sized economies of the Global South. This platform also allows such influential ...
... start of the year 2023 was marked by a series of statements coming from representatives of BRICS countries concerning plans to create new currencies. In particular, Brazil’s President Lula called for the creation of common currencies among BRICS and MERCOSUR countries, while Russia’s Foreign Minister Sergey Lavrov stated that the creation of the BRICS common currency would feature in the discussions at the BRICS summit to be held in South Africa this year. And even as a lot of these changes in ...
... America’s 12 economies the total in 2021 was around USD 3.25 trn. Furthermore, there is already a track-record of Africa-Latin America cooperation in the sphere of “integration of integrations” via the signing of a preferential trade agreement between MERCOSUR and the South African Customs Union (SACU) in 2008-2009 – the trade deal entered into force in April 2016.
In recent years links between Latin America’s regional organizations and Africa have further strengthened. On 7 September 2021, leaders ...
... include the aggregation of CELAC (Latin America), African Union (Africa), SCO (Eurasia). A more diverse set of regional blocs that targets deeper integration could feature a BRICS+ platform that comprises the South African Development Community (SADC), MERCOSUR, BIMSTEC, China-ASEAN FTA, Eurasian Economic Union (EAEU). Other possible variations of South-South platforms could include pragmatic platforms that bring together the national and regional development institutions of the Global South, smart ...
... integration initiative is the African Continental Free Trade Area launched in 2018. Another important development is the rising coordination among the regional integration blocks and the signing of the respective memoranda between the Eurasia Economic Union, MERCOSUR and ASEAN.
The possible scope for the use of national currencies within the R5 paradigm has also been broadened in recent periods via the expansion in the membership of the BRICS New Development Bank (NDB). In particular, among the new members ...
... of the African Continental Free Trade Area (ACFTA)
BRICS+ summit in South Africa, with invitees being representatives of regional blocs from the Global South
The signing of a memorandum on understanding between the Eurasian Economic Union (EAEU) and MERCOSUR (in 2018) as well as between the EAEU and ASEAN (2018)
The creation of regional centers of the BRICS New Development Bank (NDB) in South Africa, Brazil and Russia.
Approval of the expansion in the membership of the BRICS New Development Bank ...
... country, and possible concertation between the two states in war and strategic affairs. The dream of a united Latin America, which was interpreted at the beginning of the 21
st
century above all on the economic level, thanks to institutions such as MERCOSUR, has however strong political implications. The rift that seems to open up in Latin America between very different integrative tendencies, such as in the function of an autonomy from North America, such as with it, is likely to redesign the political ...
EAEU and MERCOSUR: Opportunities for Transcontinental Cooperation
The transformation of international trade has significantly picked up pace as of late. Sanctions and protectionism (and its rather aggressive variant used by the United States) prompt states ...
