TRENDS Study: BRICS+: Prospects for a More Inclusive World Order

Trends Research and Advisory released a new study entitled "The New Horizons for the BRICS in 2024." The study examined the historic expansion of the BRICS group after the admission of six new members as of January 1, 2024, namely the United Arab Emirates, Saudi Arabia, Egypt, Argentina, Ethiopia and Iran.

The English-language study, conducted by researchers Mouza Almarzooqi and Serhat S. Çubukçuoğlu, indicated that BRICS' expansion marks a turning point in the group's development, with the potential to play a pivotal role in reshaping the global governance narrative, offering a counterweight to established institutions, and promoting a more inclusive and equitable world order. 

The study is based on a comprehensive research methodology, which included analysis of academic literature, statistical reports and interviews with experts.

BRICS+ now has a strong group of emerging economies accounting for about 37% of global GDP, 42% of global oil production and 72% of the world's rare earth reserves. It also encompasses a variety of geographical and economic interests, giving the group greater power and influence on the world stage.

The study discussed the challenges facing BRICS+, including the need for formal structures, institutional capacity and said that a shared agenda within the group may hinder its effectiveness in addressing complex global issues. The study called for the establishment of a BRICS+ secretariat and a more coordinated approach to policy-making.

The study concluded that BRICS+ has the potential to play a pivotal role in reshaping a more just and inclusive world order. It explained that achieving this goal requires close coordination and cooperation among member states.