TITLE:
Dynamics in International Contract Business Negotiations: A Comparison of Brazil, Russia, Indian and China (BRIC)
AUTHORS:
Ligia Maura Costa
KEYWORDS:
International Negotiations, Negotiating Process, BRIC Countries, BRIC Negotiators
JOURNAL NAME:
Beijing Law Review,
Vol.14 No.1,
March
31,
2023
ABSTRACT: Globalization has increased countries interaction and trade exchange. Brazil, Russia, India and China (BRIC) became more important economies at the global level during the 21st century. As the success of international negotiations depends on reaching satisfactory agreements for all parts involved, many people have found difficulties in conducting international negotiations involving BRIC negotiators. Several factors may impact the result of the negotiation process. Understanding how these relevant factors may impact on the outcomes of international negotiations among BRIC countries may help to mitigate the adverse effect of different perspectives in an international agreement and allow companies to become more competitive globally. Based on theories of negotiation, this study focuses on the dimensions of negotiating outcomes and process as perceived by BRIC negotiators in international business transactions. As misunderstandings occur during a domestic agreement negotiation within the same culture, one can affirm that the same happens when BRIC negotiators are negotiating an international business agreement. What kind of misunderstandings can prevent successful cross-cultural negotiations among BRIC negotiators? How are BRIC negotiators able to overcome the challenges of the international environment while negotiating an international agreement? Is it possible to settle a common path among BRIC negotiators based on an international business agreement negotiation? The purpose of this research is to answer to these and other questions. From a review of international negotiation practices, a questionnaire focusing on retrospective international contracts negotiation experiences was developed and sent to negotiators from BRIC countries. The results indicate some important outcomes that may be taken into consideration for a successful international negotiation involving negotiators from BRIC countries.