COOPERATION WITHIN BRICS+ AS A NEW FORMAT FOR THE INTEGRATION PROCESS OF RAPIDLY DEVELOPING COUNTRIES

Introduction. In the context of global transformations driven by economic crises, shifts in international politics, and processes of deglobalisation, the emergence of a new multipolar world order has become one of the key trends. The intergovernmental alliance BRICS+, which includes countries such as Brazil, Russia, India, China, South Africa, Egypt, Saudi Arabia, the United Arab Emirates, Iran, and Ethiopia, plays a significant role in this process. BRICS+ is emerging as an alternative to traditional Western institutions, offering new approaches to economic cooperation, dedollarisation, and the creation of alternative payment systems. The objective of the study is to assess the impact of BRICS+ on the global economic architecture and to identify the current challenges associated with the expansion of this intergovernmental alliance.
Materials and Methods. This study utilises data from open sources, including statistical reports, analytical materials from international organisations, and publications in academic journals. To analyse the economic indicators of BRICS+ member states, comparative analysis methods were employed, including the comparison of data on GDP, trade volumes, and energy resources. Initiatives by BRICS+ in the areas of dedollarisation and the creation of alternative payment systems were also examined. Particular attention was paid to the processes of the alliance's expansion and its impact on the global economic architecture.
Results of the Study. The expansion of BRICS+ and its economic successes call into question the dominance of traditional Western institutions such as the World Bank and the IMF. However, internal disagreements among member states, such as tensions between China and India or between Saudi Arabia and Iran, may hinder the achievement of consensus on key issues. Additionally, differences in levels of economic development and political systems necessitate a more flexible approach to coordinating cooperation. Despite these challenges, BRICS+ possesses significant potential to strengthen its role in the global economy. Initiatives aimed at dedollarisation and the creation of alternative payment systems could represent an important step towards establishing a new financial architecture independent of Western institutions. Expanding cooperation with regional blocs such as the Eurasian Economic Union (EAEU), ASEAN, and MERCOSUR also opens up new opportunities for economic growth and integration.
Discussion and Conclusion. BRICS+ is becoming a significant player on the global stage, offering an alternative to traditional Western institutions and contributing to the formation of a multipolar world order. The expansion of the alliance and its growing economic indicators demonstrate its increasing influence. However, for further success, member states need to strengthen coordination and find compromises on key issues. In the context of global economic instability, BRICS+ has the potential to become a platform for harmonious interaction among Global South countries and a counterbalance to the hegemony of Western powers.

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