Uzbekistan and BRICS: cooperation and prospects

Abstract

Uzbekistan’s cooperation with the BRICS countries is very important owing, first, to the growing economic power of the group members and, second, to its role in the qualitative transformation of the global South development scenarios. It should involve joint efforts based on contacts with regional partners, rather than competition, in order to strengthen balanced and inclusive economic growth, improve international competitiveness of the BRICS economies and achieve development levels comparable with those of advanced Western economies. The present paper uses statistical data on foreign economic relations of Uzbekistan and is based on content and comparative analysis of the main indicators related to exports and imports of the goods and services necessary for economic development of the partner countries. Presenting the results of Uzbekistan’s interaction with the BRICS countries, it identifies the main difficulties these countries are faced with, suggests ways of resolving them and outlines possible strategies for cooperation between Uzbekistan and the BRICS countries. This cooperation will help increase trade turnover, which will benefit all the parties involved. At the same time, it may cause serious problems in regional transport, logistics and financing. The paper also considers the BRICS countries’ links with other Central Asian countries.