World Economy
BRICS+: It’s Back With Scale and Ambition

After several years of being relegated to backstage of the BRICS agenda, in 2022 the BRICS+ format is back and is at the very center of the discussions surrounding China’s chairmanship in the grouping. With the return of the BRICS+ paradigm the BRICS is going from introvert to extrovert and its greater global ambition raises hopes across the wide expanses of the Global South of material changes in the global economic system. The main question now centers on what the main trajectories of the evolution of the BRICS+ framework will be – thus far China appears to have advanced a multi-track approach that targets maximum scope and diversity in the operation of the BRICS-plus paradigm. 

One of the novelties of China’s BRICS chairmanship in 2022 has been the launching of the extended BRICS+ meeting at the level of Ministers of Foreign Affairs that apart from the core BRICS countries also included representatives from Egypt, Nigeria, Senegal in Africa, Argentina from Latin America, Indonesia, Kazakhstan, Saudi Arabia, United Arab Emirates and Thailand. And while the inclusion of Saudi Arabia and Indonesia may reflect their role in the G20 and overall size of their economies in the developing world, the inclusion of countries such as Senegal (chairmanship in the African Union in 2022), United Arab Emirates (chairmanship in the Gulf Cooperation Council in 2022) and Argentina (chairmanship in CELAC in 2022) is suggestive of a regional approach to building the BRICS+ platform. 

That regional approach was also evidenced in the Forum of political parties, think-tanks and NGOs that was held on May 19th in BRICS+ format - among the countries invited to participate were Cambodia (chairmanship in ASEAN in 2022) as well as Senegal and Argentina that represented Africa and Latin America respectively. In effect China thus presented an inclusive format for dialogue spanning all the main regions of the Global South via aggregating the regional integration platforms in Eurasia, Africa and Latin America. Going forward this format may be further expanded to include other regional integration blocks from Eurasia, such as the GCC, EAEU and others. 

During the meeting of foreign ministers of BRICS countries China also announced plans to open up the possibility of developing countries joining the core BRICS grouping. This approach differed to some degree from the line pursued by BRICS in the preceding years, when any expansion outside of the BRICS core was deemed to be the purview of the BRICS+ format. It remains to be seen whether the expansion in the core BRICS grouping is going to be supported by other members, but at this stage it appears unlikely that a speedy accession of any single developing economy is likely in the near term.
One important consideration in the future evolution of the BRICS+ format is its evenhandedness and balance observed between the main regions of the Global South.

In this respect the inclusion of several countries into the “core BRICS” group may be fraught with risks of imbalances and asymmetries in terms of the representation of the main regions of the developing world in the core BRICS grouping. There is also the risk of greater complexity in arriving at a consensus with a wider circle of core BRICS members. While the option of joining the core should be kept open, there need to be clear and transparent criteria for the “BRICS accession process”. 

Another issue relevant to the evolution of the BRICS+ framework is whether there should be a prioritization of the accession to the BRICS core of those developing economies that are members of the G20 grouping. In my view the G20 track for BRICS is a problematic one – the priorities of the Global South could get weakened and diluted within the broader G20 framework. There is also the question about the efficacy of G20 in coordinating the joint efforts of developing and developed economies in the past several years in overcoming the effects of the pandemic and the economic downturn. Rather than the goal of bringing the largest heavyweights into the core BRICS bloc from the G20 a more promising venue is the greater inclusivity of BRICS via the BRICS+ framework that allows smaller economies that are the regional partners of BRICS to have a say in the new global governance framework. 

The next stage in the BRICS+ sequel is to be presented by China in June during the summit of BRICS+ countries. The world will be closely gauging further developments in the evolution of the BRICS+ format, but the most important result of China’s chairmanship in BRICS this year is that BRICS+ is squarely back on the agenda of global governance. The vitality in BRICS development will depend to a major degree on the success of the BRICS+ enterprise – an inert, introvert BRICS has neither global capacity, nor global mission. A stronger, more inclusive and open BRICS has the potential to become the basis for a new system of global governance.


Please feel free to write to Yaroslav Lissovolik: [email protected]

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The regional BRICS+ format is the only feasible platform for economic integration alliances to be finally launched among the BRICS countries after an extended period of limited economic advances in the sphere of common economic integration, writes Valdai Club Programme Director Yaroslav Lissovolik.
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