Political scientist and orientalist Farhad Ibragimov: BRICS shapes new economic architecture

An international scientific and practical conference was held at the Peoples' Friendship University of Russia (RUDN University), gathering experts, scholars, and political scientists to discuss the prospects for economic development in the contemporary context. Special attention was given to the role of BRICS and China as one of the key players in global trade.

The President of RUDN, Vladimir Filippov, emphasised the importance of strengthening ties in the process of regionalisation, especially within organisations such as BRICS and the Shanghai Cooperation Organisation (SCO).

“It is necessary to build relationships more effectively, not just engage in abstract globalisation. These issues permeate finance, the economy, and product standards. Russia and RUDN have their own niche here,” he remarked.

Aleksey Maslov, Director of the Institute of Asian and African Studies at Moscow State University, highlighted China’s growing role in the Eurasian space in his speech.

“Today we are witnessing not globalisation but global regionalisation – each country is building its own macroeconomic region. In this sense, China occupies a key position,” he said.

Maslov noted that contemporary global trade is undergoing a transformation, with the logic of interaction changing. According to him, large countries are increasingly focusing on creating their own production chains and trade zones.

In an interview with TV BRICS, Farhad Ibragimov, a professor at the RUDN Faculty of Economics and political scientist, spoke about the role of BRICS in trade integration.

“Today, BRICS is not just an economic platform; it is a new paradigm,” he stated.

According to Ibragimov, new organisations being formed through BRICS are becoming alternative channels of cooperation for the member states.

“BRICS offers and implements new approaches to the global economy, contributing to the formation of a fair architecture for international relations,” he noted.

Ibragimov added that the new international institutions being created in the ‘BRICS+’ framework provide effective cooperation channels for countries such as Iran. A crucial role in this process is played by the creation of the New Development Bank (NDB) of BRICS, which is shaping a fair and sustainable international relations architecture, opening opportunities for countries to actively participate in the global economic process.

Photo: TV BRICS