It is clear that greater harmonisation needs to be achieved between the BRICS with regard to bilateral agreements, some of which still need to be clarified if the bloc`s ambition to increase trade between them is taken into account. These agreements do not yet include free trade agreements between Brazil, China, India and Russia; China with India and South Africa. However, the introduction of free trade between BRICS members and the Eurasian Economic Union remains interesting. The EAEU has already indicated that it is ready to sign agreements with non-Eurasian countries and Morocco, Egypt, Mozambique and Namibia (border countries with BRICS member South Africa) are currently on the agenda. Russia has developed free trade zones in Africa and Asia, and China has done the same – I wrote in the article about how foreign investors can benefit from China`s Belt-Road initiative in Africa Despite the current partial lack of free trade links, it is clear that steps are also being taken to address it. This makes the prospect of a BRICS alignment with the EAEU more likely. If so, such a free trade area could look like this: in 2012, Hu Jintao, then president of China and head of Paramount, described the BRICS as defenders and promoters of developing countries and as a force for world peace. [6] Western analysts have highlighted possible divisions and weaknesses in the grouping, including significant economic instability[87][99][99] Divergences between members on UN Security Council reform[91] and disputes between India and China over territorial issues. [7] On July 15, the first day of the 6th BRICS Summit in Fortaleza, Brazil, the Emerging Countries Group signed the much-anticipated document on the creation of the $100 billion New Development Bank (formerly the BRICS Development Bank) and a pool of more than $100 billion in reserves. Documents on cooperation between BRICS export credit agencies and an innovation cooperation agreement were also falsified. [Citation required] With regard to the Double Taxation Conventions (DBA), Brazil has signed agreements with China, India and South Africa, but not yet with Russia or any of the EAEU countries. Brazil has not signed an agreement with the China Belt-Road Initiative.

BRAZIL Brazil is a member of the Mercusor Free Trade Market, which includes Argentina, Paraguay and Uruguay. Mercusor acts as a customs union in which there is free intra-zone trade and a common trade policy between member states. It is the fourth largest trading bloc in the world after the EU, NAFTA and ASEAN. Mercosur is home to more than 250 million people and accounts for nearly three-quarters of total economic activity in South America. For the rest, Brazil has not been particularly active in signing global free trade, and does not agree with any of the other BRICS, although it has a preferential agreement with India and the South African Customs Union via Mercusor. Africa should strive to establish partnerships with the BRICS to exploit potential green technological opportunities, which are rapidly becoming the dominant driver of innovation in the direction of sustainable development. For example, in 2012, China added 23.1 GW of clean energy capacity and invested $65.1 billion in clean and renewable energy. Africa has an opportunity to take advantage of the multilateral innovation agreement between the BRICS, which was formalized at the sixth summit in Brazil. The agreement aims to support projects and initiatives that promote investment in technological innovation, with a focus on infrastructure and sustainable energy, as well as innovation in processes and products in different sectors of industry, services and the agricultural economy. With regard to the DBA, India has 88 DBA in force, including agreements with all BRICS and EAEU members, Armenia, Belarus, Kazakhstan and Kyrgyzstan, but has not signed China`s Belt-Road initiative.