Modern realities and the potential for the development of the BRICS+ association

Throughout its existence, the BRICS association has had a steady trend towards development in the field of trade and economic cooperation between the participating countries. During this time, a certain range of projects has been implemented, and a New development Bank has been created. BRICS is an association that includes Brazil, Russia, India, China and the Republic of South Africa. Since January 1, 2024, 5 new countries have joined the BRICS, which is why the association is now called BRICS+. In this regard, the purpose of this article is to analyze current trends, as well as further prospects for the development of the BRICS+ association, including specialized platforms and the creation of a single reserve currency. The study revealed that BRICS+ is considered a “strategic partnership” and is currently positioned primarily as a negotiating tool with industrialized countries to strengthen their positions in global governance. Moreover, today BRICS+ has acquired the character of an association that truly influences the global economy and international trade and investment processes, while the new BRICS+ format has demonstrated a noticeable increase in influence in the international economy, trade and production, attracting the attention of many investors and politicians.