The essence of the BRICS+ group features a shared strategic aim: to foster economic cooperation in a manner that creates and facilitates financial and economic mechanisms that enable members to bypass – without necessarily excluding – the traditional OECD leaders. With trade and investment flows to and within the BRICS+ group already experiencing an upward trajectory, it is anticipated that geopolitical tensions and ongoing tariff turbulence will boost this growth in the medium and long run. Hence, the number of cross-border transactions involving parties from BRICS+ countries will continue to rise. Consequently, the need for effective dispute resolution mechanisms will grow. International commercial arbitration, and potentially mediation, are particularly well suited to resolving such disputes. Most business transactions and commercial arbitrations related to the BRICS+ group – or more broadly, to East Asia, Latin America and Africa – will involve at least one party from a civil law jurisdiction. We term this emerging market segment as BRICS+ arbitrations.
Asian International Arbitration Journal