Economic Growth, Trade, and Energy in The Brics:
Assessing the Negotiations with The International Organisations
Irina Ionela POP
Abstract. The economic growth of the BRICS (Brazil, Russia, India, China, and South Africa) was emphasized by the global economic crisis from 2008 and it seems to continue in the years to come. However, this economic growth needs to be supported by trade, foreign direct investments, and important energy resources, and it already had many negative effects over these countries’ environment. Within the international institutions, many countries request major reforms regarding the vote procedures as well as a bigger responsibility of the Western countries for the costs of the climate change. Therefore, this paper will try to present, in a comparative way, the challenges regarding the economic growth, trade, foreign direct investments and energy resources in the BRICS. On the other hand, we will try to identify the BRICS’ strategies over these problems. Finally, we will analyze the negotiations of the BRICS with international institutions, such as UN, G20, WTO and IEA, regarding the global economic and energy governance.
Keywords: BRICS, economic growth, trade, energy, international organisations, global governance