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Abstract: In recent years the long term durability of reinforced concrete structures has become a major concern. The effect of harsh loading conditions and aggressive environmental factors can lead to corrosion of reinforcing steel in civil engineering applications. This in turn leads to undesired repairs, additional costs and shorter service lives. Advanced composite materials, such as Basalt Fibre Reinforced Polymer (BFRP), have the capacity to significantly address this problem. These materials have enhanced physical properties such as higher mechanical and corrosion resistance, and have the potential to replace traditional steel rebars as tension reinforcement in concrete. There are however limitations that prevent their use on a larger scale, and lack of ductility is the most significant. Braiding techniques could provide the required performance benefits related to the additional ductility and flexibility needed, as well as enhancing the bond between FRP and concrete. If this is achieved, it has the potential to prevent a brittle failure and successfully meet strength, reliability and cost demands. This study focuses on the basics of materials characterization and reliability analysis of internal BFRP reinforcement for concrete structures towards design optimization for structural reliability over their service life.