Regional Dimensions of BRICS Cooperation

Abstract

Since the beginning, BRICS has been viewed as an element of global governance system. Recently, however, it became necessary to adapt the BRICS format to the new challenges of the world system, not only at the global, but also at the regional levels, as a result of which not only global cooperation mechanisms, but also regional ones, were involved in the activities of the BRICS. BRICS-initiated regional outreach practices and “BRICS+” format are aimed at expanding partnerships, the socalled “circle of friends” of the BRICS, both within the BRICS subregions and beyond. These partners include as national states, as regional organizations. Both formats are focused on reforming the global fi nancial and economic system and the formation of a polycentric world order based on the principles of pluralism and diversity, involving not only developed but also developing countries of the “Global South” in the global governance system. The purpose of this article is to consider various approaches to the study of the BRICS from the standpoint of the theories of “new” and “comparative” regionalism and to assess the prospects for regional interaction of the BRICS countries at the level of subregional, interregional and transregional ties.