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EAEU and BRICS: State and Prospects of Cooperation

In: Current Problems of the World Economy and International Trade

Author

Listed:
  • Saadat M. Assanseitova
  • Erlan K. Abil
  • Saida A. Makhatova

Abstract

The chapter examines the current state and prospects of cooperation between the Eurasian Economic Union and the BRICS members. Firstly, the chapter describes comparative analysis between the economic strategies, which represents the two associations facing similar challenges; set themselves similar goals and objectives to achieve sustainable economic growth. Also, the authors provide an empirical analysis of trade and economic cooperation between the EAEU and the BRICS countries, which shows different levels and dynamics of relations with each member of the BRICS. Furthermore, it is proposed to use new ‘soft’ formats, which, in the authors' opinion, will provide synergistic use of the fundamental platforms for dialogue created in the EAEU and BRICS to intensify cooperation and deepen practical interaction. Finally, the chapter concludes that the potential interaction between the two associations of developing countries would create positive prospects and new opportunities, subsequently accelerating their economic growth. Such consolidation of capabilities of these institutions would transfer such cooperation into a practical direction by implementing the goals defined in the strategic planning of the EAEU and BRICS countries.

Suggested Citation

  • Saadat M. Assanseitova & Erlan K. Abil & Saida A. Makhatova, 2022. "EAEU and BRICS: State and Prospects of Cooperation," Research in Economic Anthropology, in: Current Problems of the World Economy and International Trade, volume 42, pages 161-173, Emerald Group Publishing Limited.
    • Handle: RePEc:eme:reanzz:s0190-128120220000042016
    DOI: 10.1108/S0190-128120220000042016
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    More about this item

    Keywords

    Economic integration; EAEU; BRICS; economic cooperation; economic strategy; international relations; international financial institutions; NDB; F02; F14; F15; F21; G24;
    All these keywords.

    JEL classification:

    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F15 - International Economics - - Trade - - - Economic Integration
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage

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