Economic Strategy

Economic Strategy

The role and position of BRICS-PLUS in the global economy and Iran's future opportunities

Document Type : Original Article

Authors
Mirabdollah Hosseini 1
Yahya Fathi 2
Bahram Amirahmadian 3
1 Associate Professor in International economics, Department of Foreign Trade, Institute for Trade Studies and Research (ITSR), Tehran, Iran
2 Assistant Professor in International economics, Department of Foreign Trade, Institute for Trade Studies and Research (ITSR), Tehran, Iran
3 Assistant Professor in Political Geography, department of Regional Studies, ECO Insurance Faculty, Allameh university.
10.22034/es.2024.466608.1783
Abstract
Participation in convergences and cooperation with emerging industrial economies in economic, investment and trade dimensions, can bring mutual economic and non-economic benefits to Iran. The present study seeks to answer these questions by using the theoretical framework of "regional convergences", what was the past performance of BRICS and how can the prospect of intra/extra-regional trade and economy of the BRICS be imagined and the situation of Iran in enjoying How can membership in BRICS be achieved? During the quarter century of the formation of BRICS, has the trade of the members of the group led to the creation of trade or the deviation of trade in the framework of convergence literature? To answer these questions, in the methodological aspect, the criteria of "homogeneity of economic indicators" and "degree of trade convergence" have been used. The study results show that the uniformity of per capita income of BRICS has improved significantly during the study period. Although the share of intra-group exports is still at a low level, the trend of this index is increasing after the formation of BRICS. Although there is an obvious convergence between the goals of the BRICS and Iran's foreign policy, and being logically placed next to the emerging powers can increase Iran's bargaining power in the arena of international relations, but it is necessary to benefit from economic benefits, remove sanctions and provide the necessary economic and trade infrastructure for establishing economic interactions is desirable.
Keywords
World Economy
Economic Homogeneity
Trade Intensity
BRICS-PLUS
Iran

Subjects

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  • Receive Date 10 July 2024
  • Revise Date 19 October 2024
  • Accept Date 26 November 2024