OPPORTUNITIES AND CHALLENGES FOR THE COOPERATION AND DEVELOPMENT OF BRICS

Foreign observers often reproach the participating countries that they do not know what they want from the BRICS. This is not quite true. The common goal that all BRICS members recognize is to achieve global equilibrium in the face of growing global instability. Some consider BRICS as a guarantor of stability and balance of the post-bipolar political system of the global world. One of the important tasks that BRICS is called upon to solve, as the center of influence of the global world, is to contribute to changing the state of affairs in the global political system of international relations for the better. Each of the BRICS countries has its own national interests both in its region and in the global world, which it is ready to defend, but does not want to get involved in any confrontation with other geopolitical competitors. Their approach is not to undermine the modern global political system, but to change and evolve it.
The creation of BRICS, initiated by the Russian Federation in 2006, is one of the most significant geopolitical events of the beginning of the new century. This association was able to become a significant factor in world politics and economy in a relatively short time. BRICS fully reflects the current objective trend of world development towards the formation of a multipolar system of international relations and strengthening mutually beneficial economic cooperation. New institutional structures of global governance and network diplomacy are increasingly being used.
The Interfaculty Coordinating Council of the Lomonosov Moscow State University is carrying out the study of the most important issue of the further development of the BRICS format – its institutionalization - for the Study of BRICS Problems.
The Profile Center at the MGIMO Institute of International Studies (headed by L. S. Okuneva) is one of the main academic centers researching the problems of BRICS. It should also be noted among the most important institutional centers The Center for the Study of the BRICS Countries of the Ural Federal University.
A.N. Vergun in his publications pays special attention to the issue of transcontinental interaction of the BRICS countries (investment, economic, political), emphasizing the innovativeness of the BRICS format [10, pp. 153-161].
L.N. Borisoglebskaya pays great attention to the study of the development of the BRICS member countries in the context of the global economic and political space. Thus, in monographic studies on this topic, published in collaboration with Y.O. Lebedeva, V.M. Chetverikov, Liu Jun, Yang Cheng yu, special attention is paid, in addition to a wide range of general issues, innovative approach to the political and economic cooperation of the member states of the community.
One of the undisputed leaders (primarily economic) in this association of countries is China. And this is connected with the development and further prospects of the format BRICS. As S.V. Uyanaev notes, for China, as one of the most dynamically developing economies, unification with other "significant" developing countries is a constructive factor in the formation of the "world architecture" [30, p. 145]. Similarly, for all BRICS participants, the economy is the foundation of political weight. And in this regard. The coordination of existing inter-country contradictions is seen as one of the most important tasks on the agenda.
It should be pointed out that numerous publications in periodicals are devoted to the study of BRICS activities. For example, the magazine "Finance and Credit" pays a lot of attention to topical issues of BRICS activities for the development of economic activity.
Thus, due to the relevance of the BRICS issues due to the consistent change in the vector of distribution of forces in the global political and economic arena in recent years, extensive material on the study of BRICS activities is presented in domestic science.
 
I Current status of BRICS cooperation

1.1 Prerequisites and history of the emergence of BRICS

The term "BRICS" has become increasingly commonplace in discussions surrounding global economics, finance, and geopolitics. This acronym refers to a group of five major emerging economies: Brazil, Russia, India, China, and South Africa. The emergence of BRICS represents a significant shift in the balance of economic power on the world stage, as these countries have experienced rapid economic growth and development in recent years .
The origins of BRICS can be traced back to 2001, when the acronym "BRIC" was first coined by Jim O'Neill, an economist at Goldman Sachs. O'Neill used this term to refer to Brazil, Russia, India, and China as major emerging economies with the potential for significant growth and development. However, it wasn't until 2010 that South Africa was added to the group, resulting in the expansion of the acronym to "BRICS." These five countries collectively represent approximately 42% of the world's population, 23% of its GDP, and 16% of its trade. The group was formed as a means of increasing cooperation and economic ties among the member countries, as they recognized the potential benefits of working together to achieve their shared goals .
Since its inception, the BRICS group has held annual summits, with the most recent taking place in Brasília, Brazil, in 2019. In addition to these summits, the BRICS countries have established a number of institutions and initiatives aimed at promoting economic development and cooperation. Perhaps the most notable of these institutions is the New Development Bank, which provides financing for infrastructure and sustainable development projects in the BRICS countries and beyond. The emergence of BRICS reflects a broader shift in global economic power away from traditional Western powers and towards emerging economies. As these countries continue to experience rapid economic growth and development, they are likely to play an increasingly important role in shaping the global economy and international relations in the years to come.
The idea of BRICS emerged from a growing recognition of the potential economic power and influence of major emerging economies. In 2001, economist Jim O'Neill of Goldman Sachs coined the acronym "BRIC" to refer to Brazil, Russia, India, and China, which he identified as countries with significant growth potential and the ability to shape the global economy in the years to come.
O'Neill's thesis was based on the observation that these four countries were experiencing rapid economic growth and development, driven by a combination of factors such as favorable demographics, abundant natural resources, and the adoption of market-oriented economic policies. He argued that these countries were likely to become major players in the global economy, challenging the dominance of traditional economic powers such as the United States, Europe, and Japan.
The concept of BRIC gained widespread attention and popularity, as it reflected a broader shift in the balance of economic power and the growing influence of emerging economies in the world. However, it was not until 2010 that South Africa was included in the group, leading to the expansion of the acronym to "BRICS." The addition of South Africa to the group was significant, as it represented a recognition of the important role that African economies were playing in shaping the global economy. South Africa, in particular, was seen as a key gateway to the African continent, with its strategic location, developed infrastructure, and diversified economy .
Since the emergence of BRICS, the group has continued to gain momentum and influence on the world stage. It has established a number of institutions and initiatives aimed at promoting economic development and cooperation, including the New Development Bank, the Contingent Reserve Arrangement, and the BRICS Business Council. These institutions have provided a platform for the BRICS countries to collaborate on issues such as infrastructure development, energy security, and sustainable development, and to advance their shared interests in the global economy.
The formation of BRICS was driven by a desire among the member countries to increase cooperation and forge stronger economic ties with one another. This reflected a recognition that the BRICS countries had a shared interest in promoting economic growth and development, as well as addressing common challenges such as poverty, inequality, and climate change.
The establishment of the BRICS group provided a platform for the member countries to engage in high-level dialogue and exchange ideas on a range of economic issues . This included discussions on trade and investment, infrastructure development, energy security, and sustainable development, among others. By working together, the BRICS countries could leverage their collective strengths and resources to achieve their shared goals more effectively.
One example of the BRICS countries' efforts to deepen economic ties is the New Development Bank (NDB), which was established by the member countries in 2014. The NDB provides financing for infrastructure and sustainable development projects in the BRICS countries and other developing economies, with a focus on promoting sustainable and inclusive growth. By pooling their resources and expertise, the BRICS countries are able to provide an alternative source of financing to traditional Western-dominated institutions such as the World Bank and the International Monetary Fund .
Another example of the BRICS countries' cooperation is the BRICS Business Council, which was established in 2013 to promote trade and investment among the member countries. The Council comprises business leaders from the five countries, who work together to identify opportunities for collaboration and investment in areas such as technology, energy, and agriculture. By fostering closer ties between the private sectors of the BRICS countries, the Council aims to unlock the full potential of the group's economic cooperation.
In addition to these initiatives, the BRICS countries have also sought to strengthen their political and strategic ties through forums such as the BRICS Political Parties, Think Tanks and Civil Society Organizations Forum. This platform provides an opportunity for the member countries to exchange ideas on issues such as global governance, international security, and regional cooperation.
The first BRIC summit was a landmark event in the history of the group, as it marked the first time that the leaders of Brazil, Russia, India, and China had come together to discuss issues of mutual concern. The summit was held in Yekaterinburg, Russia, in 2009, and was attended by the presidents of the four countries .
The summit focused on a range of economic and political issues, including trade and investment, energy security, climate change, and global governance. One of the key outcomes of the summit was the agreement to establish a formal mechanism for dialogue and cooperation among the BRIC countries. This mechanism came to be known as the BRIC Dialogue Forum, and provided a platform for the member countries to engage in high-level discussions and exchange ideas on a range of issues.
Since the first BRIC summit, the group has continued to grow and expand its activities. In 2010, South Africa was invited to join the group, and the name was changed to BRICS to reflect this development. The addition of South Africa was seen as a significant step forward in terms of increasing the group's representation and influence, as well as its potential to drive economic growth and development on the African continent.
Subsequent BRICS summits have focused on a range of issues, including the need to strengthen multilateral institutions such as the United Nations and the World Trade Organization, the importance of promoting sustainable development and reducing inequality, and the need to address global security challenges such as terrorism and cybercrime.
One of the key strengths of the BRICS group is its ability to bring together countries with different political systems, economic structures, and cultural backgrounds. Despite their differences, the member countries share a common interest in promoting economic growth and development, and in addressing the challenges and opportunities of the 21st century.
In recent years, the BRICS countries have faced a range of challenges, including slowing economic growth, political tensions, and the impact of the COVID-19 pandemic. However, the group has remained committed to its goals of promoting cooperation and dialogue among its members, and of working together to address common challenges and achieve shared objectives. As the global economy and political landscape continue to evolve, the BRICS group is likely to play an increasingly important role in shaping the future of international relations and economic development .
One of the key achievements of the BRICS group has been the establishment of several institutions aimed at promoting economic growth and development, both within the member countries and beyond. One such institution is the New Development Bank (NDB), which was established in 2014 to provide financing for infrastructure and sustainable development projects.
The NDB is headquartered in Shanghai, China, and has an authorized capital of $100 billion. Its founding members are Brazil, Russia, India, China, and South Africa, and it has since expanded to include several other countries as members. The bank's mandate is to support projects that promote sustainable development, such as renewable energy, transportation, and water supply.
In addition to the NDB, the BRICS countries have also established several other institutions aimed at promoting economic cooperation and development. For example, the Contingent Reserve Arrangement (CRA) was established in 2015 as a mechanism to provide financial support to member countries in times of financial crisis. The CRA has a total size of $100 billion and is intended to provide a safety net for member countries in case of economic instability.
Another important institution established by the BRICS group is the BRICS Business Council, which was set up in 2013 to promote business ties and investment among member countries. The council is made up of leading businesspeople from each of the member countries and is tasked with identifying opportunities for collaboration and investment in key sectors such as infrastructure, energy, and technology.
In addition to its efforts to promote economic growth and development, the BRICS group has also worked to address a range of other important issues, both within the member countries and on the global stage. One area of cooperation has been in the field of energy, where the member countries have sought to increase collaboration and investment in areas such as renewable energy, energy efficiency, and sustainable development .
For example, the BRICS Energy Cooperation Working Group was established in 2014 to promote dialogue and cooperation among member countries on energy-related issues. The group has focused on a range of issues, such as energy security, energy efficiency, and the development of renewable energy sources, with the aim of promoting sustainable and reliable energy supplies for all member countries.
Another area of cooperation has been in the field of agriculture, where the member countries have sought to share knowledge and expertise to promote sustainable agriculture practices and food security. The BRICS Agricultural Research Platform, established in 2014, aims to foster collaboration among agricultural researchers and institutions in the member countries, with the goal of promoting sustainable and efficient agricultural practices.
Counterterrorism has also been an important area of cooperation for the BRICS group, with member countries working together to share information and coordinate efforts to combat terrorism and violent extremism. The BRICS Counter-Terrorism Working Group was established in 2016 to promote dialogue and cooperation among member countries on counterterrorism issues, with a focus on sharing information, developing joint strategies, and enhancing cooperation on law enforcement and security.
The emergence of the BRICS group represents a significant shift in the global economic landscape, as it reflects the growing importance of emerging economies and the declining influence of traditional Western powers . For much of the 20th century, the global economy was dominated by the United States, Europe, and Japan, with these countries controlling the lion's share of global trade, investment, and financial flows. However, in recent decades, the balance of economic power has been shifting, as emerging economies such as China, India, and Brazil have grown rapidly and become major players in the global economy .
One of the key drivers of this shift has been the increasing interconnectedness of the global economy, which has allowed emerging economies to participate more fully in global trade and investment flows. As a result, these countries have been able to leverage their large populations, natural resources, and skilled workforces to become major manufacturing and exporting hubs, driving growth and development in their respective regions.
The emergence of the BRICS group has been a reflection of this changing economic landscape, as it has brought together some of the most dynamic and rapidly growing economies in the world. By working together, these countries have been able to leverage their collective economic power to drive growth and development, promote trade and investment, and advocate for their interests on the global stage.
At the same time, the emergence of the BRICS group has also highlighted some of the challenges and tensions that arise when multiple countries with diverse interests and priorities come together to cooperate. For example, the group has struggled at times to find common ground on issues such as trade and investment, with member countries having different levels of development, economic structures, and political systems. However, despite these challenges, the BRICS group has remained an important forum for cooperation and dialogue, demonstrating the growing importance of emerging economies in the global economic landscape.

1.2 Current trends in the development of BRICS

Economic growth is one of the key trends in the development of BRICS countries. The BRICS group has been among the fastest-growing economies in the world, with China and India leading the way. China, in particular, has been a major driver of global economic growth over the past two decades, with its rapid industrialization and economic liberalization policies contributing to its meteoric rise as a global economic power. India has also emerged as a key player, with its large and growing population and a burgeoning tech sector.
Brazil, Russia, and South Africa have also made significant economic strides in recent years. Brazil, for example, has developed a vibrant agribusiness sector and is a major producer of soybeans, coffee, and other agricultural products . Russia has significant natural resources, including oil and gas, and has been expanding its export markets in recent years. South Africa, meanwhile, is the most industrialized country in Africa and has a diverse economy that includes mining, manufacturing, and services.
However, the COVID-19 pandemic has had a significant impact on the economies of the BRICS countries, with many experiencing significant declines in economic activity. Nonetheless, the BRICS countries have taken steps to mitigate the impact of the pandemic, including through fiscal and monetary policy measures to support businesses and households. The group has also worked together to promote global economic recovery and has called for greater international cooperation in addressing the economic fallout from the pandemic.
Looking forward, the BRICS countries are likely to continue to be important drivers of global economic growth, with their large populations, natural resources, and growing middle classes providing significant opportunities for economic development. However, the group will also face challenges, including rising debt levels, geopolitical tensions, and the need to transition to more sustainable and inclusive economic models.
Infrastructure development is another important trend in the development of BRICS countries. Infrastructure is critical for economic development, enabling businesses to operate efficiently and facilitating the movement of goods and people. The BRICS countries have recognized the importance of infrastructure development and have made significant investments in this area in recent years.
One notable initiative is the New Development Bank (NDB), which was established by the BRICS countries in 2014 to provide financing for infrastructure and sustainable development projects . The NDB has financed a number of important projects, including a renewable energy project in India, a water supply project in Russia, and a transportation project in Brazil. In addition, the BRICS countries have also established the BRICS Contingent Reserve Arrangement (CRA), which provides a financial safety net to member countries in the event of an economic crisis.
Another key infrastructure initiative is China's Belt and Road Initiative (BRI), which seeks to promote economic connectivity and cooperation between China and countries in Asia, Europe, and Africa. The BRI includes a range of infrastructure projects, such as roads, railways, ports, and energy pipelines. While the BRI has been met with some criticism and controversy, particularly with regard to debt sustainability and environmental impacts, it has also been seen as a major driver of economic growth and development in many countries.
The BRICS countries have also made significant investments in digital infrastructure, recognizing the importance of technology in driving economic growth and development in the 21st century . For example, China is a leader in 5G technology and has been investing heavily in this area, while India has developed a vibrant tech sector and is home to a number of prominent tech companies. Brazil, Russia, and South Africa have also made strides in digital infrastructure, with investments in areas such as broadband internet and e-commerce.
Infrastructure development is likely to continue to be a key priority for the BRICS countries, as they seek to improve connectivity, promote economic growth, and address social and environmental challenges. However, they will also need to address challenges such as funding constraints, environmental impacts, and ensuring that infrastructure development is inclusive and sustainable.
Trade is another important trend in the development of BRICS countries. The member countries are among the largest and fastest-growing economies in the world, and as such, they have become major players in global trade. The BRICS countries have recognized the importance of trade in driving economic growth and development and have taken steps to increase their trade with each other and with the rest of the world.
One key initiative is the BRICS trade agreement, which was signed in 2020 and aims to promote trade and investment among member countries. The agreement includes provisions for reducing trade barriers, improving customs procedures, and promoting the use of local currencies in trade transactions. This is expected to help boost trade among BRICS countries and reduce their dependence on the US dollar in trade transactions.
The member countries have also taken steps to increase their trade with other regions. For example, China has developed strong trade links with Africa, and India has been working to strengthen ties with Southeast Asia. Brazil has also been seeking to increase its trade with the European Union, while Russia has been expanding its trade with the Middle East.
In addition, the BRICS countries have been exploring the possibility of setting up a joint payment system, which would allow them to bypass the US-dominated global financial system and conduct transactions using their own currencies. This would reduce their dependence on the US dollar and increase their financial independence.
However, the member countries also face challenges in trade, including protectionist policies, trade imbalances, and the impact of the COVID-19 pandemic on global trade . They will need to work together to address these challenges and ensure that trade remains a key driver of their economic growth and development. Overall, trade is likely to continue to be an important trend in the development of BRICS countries, as they seek to increase their integration into the global economy and promote economic growth and development.
Regional integration is another important trend in the development of BRICS countries. The member countries have recognized the importance of regional cooperation and integration in promoting economic growth and development, and have taken steps to increase their cooperation and integration with each other and with other regions.
One key initiative is the establishment of the BRICS Development Bank, also known as the New Development Bank, which was founded in 2014. The bank is intended to provide funding for infrastructure and sustainable development projects in BRICS countries and other emerging economies, and is seen as an alternative to traditional multilateral development banks, such as the World Bank and the Asian Development Bank.
In addition to the New Development Bank, the member countries have also established the BRICS Contingent Reserve Arrangement, a $100 billion fund that can be used to provide financial assistance to member countries in times of financial crisis. This is seen as a key step towards greater financial cooperation and integration among BRICS countries.
The member countries have also taken steps to increase their cooperation in other areas, such as energy, agriculture, and technology. For example, they have established the BRICS Energy Research Cooperation Platform, which aims to promote cooperation in areas such as renewable energy, energy efficiency, and energy security. They have also established the BRICS Agricultural Research Platform, which aims to promote cooperation in areas such as food security, agricultural productivity, and sustainable agriculture.
Furthermore, the member countries have been exploring the possibility of establishing a free trade area among themselves. This would further promote regional integration and cooperation, and could help to reduce trade barriers and increase trade among member countries.
However, the member countries also face challenges in regional integration, including differing economic systems, political tensions, and the impact of the COVID-19 pandemic on regional cooperation. They will need to work together to address these challenges and ensure that regional integration remains a key driver of their economic growth and development. Overall, regional integration is likely to continue to be an important trend in the development of BRICS countries, as they seek to increase their cooperation and integration with each other and with other regions, and promote economic growth and development.
The issue of climate change has become increasingly important for the BRICS countries in recent years. These nations, particularly China and India, are among the world's largest polluters, and as such, they have a major role to play in mitigating the effects of climate change. The BRICS countries have made commitments to reducing their greenhouse gas emissions and increasing their use of renewable energy sources. For example, China has pledged to peak its carbon dioxide emissions by 2030 and to increase the share of non-fossil fuels in its primary energy consumption to 20% by the same year. India has set a target of achieving 450 GW of renewable energy capacity by 2030. The BRICS countries have also established the BRICS Climate and Energy Joint Working Group to promote cooperation on issues related to climate change and clean energy.
Geopolitical tensions have also been a concern for the BRICS countries in recent years. The group is made up of nations with very different political systems, histories, and regional contexts. For example, Russia's annexation of Crimea in 2014 and its involvement in the conflict in eastern Ukraine has strained its relationship with other BRICS members, particularly Ukraine's ally, India. China's territorial claims in the South China Sea have also caused tensions with other BRICS members, particularly India and Vietnam. Additionally, the BRICS countries have sometimes found themselves at odds with traditional Western powers on issues such as trade, human rights, and foreign policy. For example, in recent years, the United States has imposed tariffs on Chinese goods and accused China of unfair trade practices, while Russia has faced sanctions from Western countries over its actions in Ukraine and Syria. These tensions could potentially impact the cooperation and progress of the BRICS group, but the member countries have so far maintained a commitment to dialogue and cooperation despite their differences.