Kazakhstan–BRICS Economic Cooperation: Exploring the Possibilities

Abstract

The objective of the study is to explore and analyse the prospects of economic cooperation between Kazakhstan and the BRICS countries and its possible impact on economic growth and development. The GDP growth rates, consumer market potentials, foreign exchange reserves, and human capital and innovation aspects were considered as the main areas of potential cooperation. Based on different databases, analytical reports and the authors’ analyses, the study suggests closer economic relationships between Kazakhstan and the BRICS countries for mutual benefits. However, the study also identified the potential challenges of economic integration with regional economic blocs and possible measures to overcome those barriers. The economic policy implications are also highlighted in the conclusion. The findings of this study could encourage other countries to consider closer cooperation to accelerate mutual economic growth and development in emerging economies.