FDI-trade interlinkages have become increasingly important in a world operated by Global Value Chains(GVCs) and run by the Multi-National Enterprises(MNEs). The advent of a macroeconomic crisis, which are also more highly transmitted across countries due to these GVCs present a unique challenge- with an increase in uncertainty and its influence over the decisions of MNEs. The present study analyzes FDI and trade flows between the developing countries of BRICS and the developed OECD countries over the period 1986-2013, covering three macroeconomic crises. Focusing on the Global Financial Crisis of 2008, the positive relationship between FDI and trade flows seem to dampen. Furthermore, this adverse impact is more severe when considering flows from the BRICS to OECD countries than vice-versa. However, this dampening effect is short-lived and becomes statistically insignificant 3 years post crisis.