How the Development of Transport Corridors is Changing the Architecture of Global Trade?

Amid the formation of a new multipolar world and the strengthening positions of Global South countries, global trade and connectivity are actively transforming. A shift towards a new architecture is observed, where multilateral platforms and Eurasian transport corridors play a key role.

How BRICS and Global South Countries Contribute to the Formation of a New Global Trade Architecture?

BRICS and Global South countries are playing a leading role in shaping new solutions for global trade. According to Maxim Oreshkin, Deputy Head of the Russian Presidential Administration, this megatrend is stable and irreversible, and old institutions are gradually losing their relevance.

The economic growth of many Global South countries already surpasses that of developed Northern states, and trade and financial centers are gradually shifting to Asia, as noted by Belarusian President Alexander Lukashenko in an interview with Xinhua news agency. He emphasized that Global South countries possess all the necessary resources, from raw materials to high technologies, and are capable of fully meeting the needs of their populations.

• Organizations such as the SCO, BRICS, ASEAN, the African Union, and CELAC coordinate positions on key issues to create alternative global governance institutions.
• Belarus, as stated by Alexander Lukashenko, actively participates in shaping the new world order as part of the Global Majority. Within the SCO and BRICS, it puts forward concrete proposals in the fields of energy, transport, logistics, finance, industrial cooperation, food security, trade, and technology.

Which Transport Corridors are Becoming Key in the New Logistics Reality?

In the context of global trade transformation, the role of Eurasian transport corridors, particularly the Trans-Arctic and the "North–South" corridor, is increasing. Experts emphasize the need for infrastructure development to enhance connectivity.

“He who has a fleet has two hands,” quotes Peter I Petr Ivanov, Director General for Logistics at Rosatom State Corporation. He noted that the emphasis on developing its own fleet is the foundation for the stability of international trade, especially after the withdrawal of many international companies that controlled 80% of the market.

To resolve disputes arising from the use of the Trans-Arctic transport corridor, the Maritime Arbitration Commission (MAC) at the Chamber of Commerce and Industry of the Russian Federation represents a convenient platform, believes Chairman of the International Commercial Arbitration Court at the Chamber of Commerce and Industry of the Russian Federation Alexey Kostin. He also highlighted the importance of strengthening cooperation between arbitration centers of BRICS and EAEU countries.

What Factors Contribute to the Shift to National Currencies in International Settlements?

One significant trend in the changing architecture of global trade is the shift to national currencies in international settlements. Jian Lian, founder of Beijing Hengce Investment Consulting Co., shared China's and Russia's initiative to attract labor from Ethiopia, where all settlements are conducted in rubles.

Until now, the US dollar was the primary reserve currency in Ethiopia. Now, there is a transition to national currencies. Therefore, we are creating new conditions to increase economic efficiency and achieving this through peaceful means.

— said Jian Lian.

This process of creating new conditions for increasing economic efficiency, achieved through peaceful means, illustrates the desire of countries for independence from traditional financial systems and the use of their own currencies for mutually beneficial cooperation.