Does the trade cooperation of the Arab countries with the BRICS countries achieve the economic balance that is absent from the world
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Certainly, trade in its purely economic sense is not the only purpose of the Arab countries joining the BRICS, otherwise these countries would have been content to join any other economic entities such as (the Group of Twenty, the Group of Ten, the Eight, or even the Group of Seven industrialized countries…)
However, there are many objectives behind the accession, the most important of which is to strengthen the economic and political cooperation of the member states of both sides to confront the entity of the European/American economic camp, as well as the exchange of experiences in the field of financial, policies and international trade between the BRICS regimes.
These objectives are illustrated by several important focal points that the Arab countries set in mind when joining the BRICS group to expand their areas of investment by providing services and products in the fields of manufacturing, agriculture, technology, oil and gas, minerals, tourism;
And because the Arab countries play a pivotal role in meeting the needs of the BRICS markets of various goods and services, so the countries of the two sides invest among themselves, each in what they own, then we can say that the balance of investments between the two sides is almost equal;
There is no doubt that trade and investment between the two sides will inevitably enhance opportunities for economic development, expand job opportunities, economic and investment cooperation for the benefit and achievement of global economic integration and even enhance economic stability in the Arab region.
Access to new, larger and more diverse markets in the BRICS world is one of the steps strongly targeted by the Arab countries, so the companies of these countries can benefit from the increased demand for their products and services that they will provide to the BRICS countries;
Not only that, but investment in areas such as infrastructure (transport, communications, etc.), energy, and technology can contribute to the development of economies and achieve long-term sustainable growth.
If we refer to what is expected to be provided by the BRICS countries to the Arab countries, it is many, but its importance revolves around providing the Arab countries with knowledge and expertise, especially in the fields of technology of all kinds.
In conclusion, we see that trade between the two sides is beneficial to both, but for the Arab countries, it must be focused on exchanging common benefits to achieve the nominal goal of these countries joining the BRICS, which is to achieve economic prosperity in the region.