Trade in high technology products trends and policy imperatives for BRICS

Trade in high technology products trends and policy imperatives for BRICS

The rise and relevance of BRICS (Brazil, Russia, India, China and South Africa) cannot be overstated. BRICS constitutes  the  most  prominent  emerging economies with substantial influence on world affairs – both political and economic. While China has demonstrated its capacity to be the world leader in production and trade, India and Brazil have been steady on rapid income growth and technological development backed by mature institutions and policy environment that tend to be oriented towards long-term economic development. BRICS  has  become  the fastest and largest emerging market economy.

This  paper  examines  the  emerging  strength  of  BRICS  in  high-technology trade. We reviewed trends in high-technology trade primarily in BICS (excluding Russia). Given that China and India are leading exporters of High-tech products (HTPs) among BICS, changing patterns of intra-industry trade  have  been  analysed  at  the  disaggregated  level  for  these  countries. Trade denomination of Information Technology Products has been analysed as  a  special  case  to  understand  roles  played  by  global  trade  agreements  in influencing production and trade of high-technology goods. BRICS has also made significant progress in technology intensive trade in agriculture which is rarely captured in the analyses based on HTPs. The paper concludes with reflection on BRICS cooperation in global technology and trade governance for long term capacity building, industrial development and competitiveness.

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