The role and development prospects of BRICS countries in the global economy

The article deals with some parameters characterizing the role of the BRICS in the global economic system. The authors define the conditions and factors of the BRICS attractiveness for foreign investors. Special attention is paid to the development prospects of the BRICS group based on the implementation of one''s own strategic interests, creation of joint development institutions, attraction of new participants, and expansion of activities of the Business Council. Taking into account the current political and economic situation in the world, geographical situation of the countries and available resources, it is possible that the association will play a prominent role in the global economy.