BRICS and Free Trade Agreements: A Special Relationship

Abstract

Purpose

The main purpose of this chapter is to explore the role BRICS countries have played in the formation of regional (free) trade agreements. The present chapter tries to understand and document recent developments and directions taken by the BRICS countries either individually or in aligning with each other at the regional and mega-regional levels.

Methodology/approach

The chapter is largely empirical and descriptive to analyse the recent RTAs policies of the BRICS countries.

Findings

This chapter provides in particular as assessment of the impact on BRICS countries of the three recent Mega-RTAs; that is TPP, TPIP and RCEP. For this purpose, an attempt had been made to find out the commonalties and divergences in the RTAs policies of the BRICS countries.

Design

The chapter is divided into six sections. After a brief introduction, the second section deals with the reasons for countries entering into RTAs. The third section documents the directions of the current negotiations on Mega-RTAs and its (potential) geographical implications for the BRICS countries. The fourth and the fifth sections deal with the current status of these RTAs and their noticeable impact on the response of the BRICS countries. The final section concludes the research with suggestions and recommendations.

Originality/value

RTAs and Mega-RTAs frameworks have been useful for BRICS countries. This recent development in trade negotiations can be regarded as promising for them.

Citation

Kumar, B. (2016), "BRICS and Free Trade Agreements: A Special Relationship", The Challenge of Bric Multinationals (Progress in International Business Research, Vol. 11), Emerald Group Publishing Limited, Leeds, pp. 247-265. https://doi.org/10.1108/S1745-886220160000011013