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National Interests: Priorities and Security
 

Geostrategic economic cooperation of the BRICS countries: National interests and priorities

Vol. 13, Iss. 5, MAY 2017

PDF  Article PDF Version

Received: 25 January 2017

Received in revised form: 18 February 2017

Accepted: 14 March 2017

Available online: 29 May 2017

Subject Heading: INTERNATIONAL ECONOMIC RELATIONS

JEL Classification: F02, F52

Pages: 949-961

https://doi.org/10.24891/ni.13.5.949

Shevchenko I.V. Kuban State University, Krasnodar, Krasnodar Krai, Russian Federation
decan@econ.kubsu.ru

Malakhova T.S. Kuban State University, Krasnodar, Krasnodar Krai, Russian Federation
malakhovats@mail.ru

Malakhov V.S. Military Unit, Belogorsk, Amurskaya Oblast, Russian Federation
mvsmvs@list.ru

Importance Considering global instability, strengthening the cooperation with the BRICS countries becomes an even greater priority for Russia amid global instability. However, BRICS does not have a clear strategy for mid-term and long-term cooperation in foreign trade. Therefore, it necessitates a kind of geoeconomic framework where national governments of the BRICS countries will be key actors.
Objectives The research determines strategic priorities of the BRICS cooperation through the lens of the formation of a new global order.
Methods The methodological underpinning includes historical, logic, statistical and comparative analysis, method of scientific abstraction, thus allowing to identify key challenges and development prospects of BRICS amid global instability.
Results We outlined development scenarios of the BRICS countries assuming the formation of the multipolar system, and presented strategic priorities of their cooperation in geoeconomic, military, political, monetary, financial, S&T and cultural areas.
Conclusions and Relevance As we conclude, it would be reasonable to rely upon the State – bank partnership model so to strengthen the BRICS cooperation in geoeconomy. We thereby proposed a graphical model of the geosrategic cooperation among the partner nations and banking structures as part of BRICS.

Keywords: BRICS, crisis, sanction, Russia, global economy, strategic priority

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