The BRICS Countries And The Benefits Of Expansion

The economic advantage of the BRICS alliance is quite substantial. The group has set a target of increasing trade's share of gross domestic product (GDP) to 25% by 2030, from 16% today. This would be a significant increase from current levels, meaning countries could buy more goods and services from each other, as well as export more goods to other countries.

The BRICS countries also plan to increase their export capacity, which could help them reduce their dependence on other sources of foreign capital, such as the US Federal Reserve and other central banks around the world. gender.

The expansion will allow these countries to generate their own capital through exports or by attracting larger remittances from citizens working abroad abroad. In addition to increasing trade between themselves and with other countries, the BRICS countries want to raise awareness of global issues such as climate change, poverty and human rights violations. The four countries are committed to advancing these issues through joint efforts both formally and informally.