|BRICS is the group of five major emerging economies: Brazil, Russia, India, China and South Africa. The member countries cooperate with each other, but until now the BRICS is not a free trade area. There are recommendations to establish free trade zone between them. In some publications, establishment of BRICS free trade area is described as a long term goal.|
The BRICS countries are also members of large trading blocs:
- Brasil - MERCOSUR
- Russia - Eurasian Economic Union
- India - AIFTA
- China - ACFTA
- South Africa - AfCFTA
So the BRICS members can build their trade relations also through these trading blocs or other associations.