RUSSIA'S INVESTMENT COOPERATION WITH OTHER BRICS COUNTRIES UNDER CONTEMPORARY CONDITIONS
Considering today’s tense geopolitical situation (including sanctions initiated by Western countries onto Russian Federation due to the Ukrainian military conflict), cooperation between Russia and BRICS countries has special significance. Russia's interest in foreign direct investment (FDI) is growing, since the latter can significantly improve the economic situation in the country. BRICS countries have rich scientific and technological base, high potential and best practices in many vital areas, all of this can be exchanged in the course of fruitful cooperation. BRICS countries have 27% of the territory and 43% of the world's population, 25% of the world's GDP (China has 13% of the world nominal GDP, India - 5.5%, Russia - 3.7%, Brazil - 2.9%), and this statistical data only stirs up the interest in strengthening the investment cooperation between these countries. For now, BRICS participants are investing small amounts in each other's production due to a number of factors: investor distrust due to poor investment climate, large amount of risks and difficulties with production processes in some of the BRICS countries, institutional barriers to protection of intellectual property rights etc. Development of investment interaction between the BRICS countries will really take place only when the states take specific actions. In Russia, for example, it would be needed to speed up the process of improving the investment climate overall, to introduce a differentiated tax regime etc. Also, an important direction in this regard would be step-by-step implementation of the investment Road Map within BRICS. It will stimulate the activation of various forms of foreign economic interactions, primarily, foreign trade as well as industrial, scientific and technological cooperation in all fields and sectors.
International College Suan Sunandha
Rajabhat University, Bangkok, Thailand