Mikhail V. Zharikov, Irina Iv. Shatskaya. Russia as a transit hub for BRICS

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Mikhail V. Zharikov - Doctor of Economic Sciences, associate professor, Financial University under the Government of the Russian Federation, michaelzharikoff@gmail.com

Irina Iv. Shatskaya - Candidate of Economic Sciences, associate professor, Russian University of Transport, irina_shatskaya@mail.ru

Abstract. BRICS has a strong influence on global GDP growth. This influence is revealed by more goods passing through the global supply chain. A wider trade, investment and transport cooperation within BRICS could contribute much more to the common cause if there were more incentives supported by the agreed policy. Therefore, BRICS needs common principles of customs and tariff regulation and common transit rules. However, the BRICS member states are still ready to maintain independence and sovereignty in making important economic and political decisions, and tend to pursue protectionist policy and protect domestic producers from foreign competition. The crisis of 2020 showed that deeper cooperation was of great necessity to ensure strong economic activity, better ways of transporting and communication, and safety and health. The current paper has presented a look at what Russia could do for BRICS in supporting increased cooperation, including common Eurasian transit routes, common security measures and common vaccination (Sputnik V) and common transport shipping (GLONASS) to become an effective means for more close cooperation in solving current economic, social, communication and medical problems.

Keywords: customs and tariff regulation; transport cooperation; transit rules; transport shipping; transit routes.


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