The Role of the BRICS+ Bloc in Restructuring the Global Trade Order

The modern global trade order emerged in the aftermath of World War II, driven by major powers seeking a stable, rules-based international economic system to avert the crises of the Great Depression and subsequent wars. Initiated by the 1947 GATT agreement and significantly advanced by the creation of the WTO in 1995, this order, alongside the Bretton Woods institutions, facilitated global economic integration but was predominantly shaped by traditional economic powers. Today, this established order faces profound challenges, including the economic rise of new powers demanding greater representation, escalating geopolitical tensions disrupting trade flows, a resurgence of protectionism, the weaponization of economic interdependence, and the paralysis within the WTO's dispute settlement system. Against this backdrop, the BRICS grouping emerged as a voice for rising economies, initially focused on economic cooperation and institutional reform. The significant expansion in 2024 to include Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE (BRICS+) fundamentally enhanced its economic and geopolitical weight. This paper investigates the role of the expanded BRICS+ bloc in the process of restructuring the existing global trade order. It hypothesizes that BRICS+ acts as a key driver of this restructuring by developing alternative economic and financial mechanisms outside the traditional framework, strengthening intra-bloc trade and investment, and collectively seeking greater influence within existing international trade forums. The study focuses on BRICS+ mechanisms such as the New Development Bank, de-dollarization initiatives and alternative payment systems, infrastructure and supply chain connectivity projects, and coordinated positions within the WTO. While acknowledging the bloc's growing prominence and its contribution to building parallel structures and advocating for reforms within the existing system, the paper critically assesses the actual impact of these efforts, noting that they remain limited in scope compared to entrenched traditional systems and face significant internal (economic/political diversity, lack of binding structure) and external (resistance from established powers, dominance of the dollar) challenges. The analysis situates the BRICS+ role within the broader context of a global shift towards multipolarity, arguing that its actions are contributing to a more complex, fragmented, and competitive international trade and financial landscape. The paper concludes by summarizing findings, answering the research question, discussing implications, acknowledging study limitations, and proposing areas for future research.