International economic relations between the Russian Federation and African countries

Abstract

The article analyses the international economic relations of the Russian Federation (hereinafter referred to as RF, Russia) and African countries. The indicators of Russia’s export and import with African countries are considered. The purpose of the research is to study the state and prospects of development of the international economic relations between the RF and African states. The subject of the study are trade, economic, investment, and financial relations between Russia and African countries. The research methodology: statistical data analysis, comparative analysis, systematic approach, methods of generalisation and synthesis. The main results of the study: identification of trends and patterns in the development of the international economic relations between Russia and African countries, assessment of the potential for cooperation and opportunities for expanding interaction. The scope of the research results: elaboration of strategies and programmes for the development of the international economic cooperation between Russia and African countries, decision-making in the field of economic policy and diplomacy. According to the author, promising models of trade cooperation between Russia and Africa are: development of the mutual trade in goods for which there is an unrealised export potential, for example, fruits, mineral resources, cocoa, and chemical products; expansion of cooperation in the service sector, especially in the tourism and educational fields; strengthening investment cooperation, especially in the oil and gas industry and nuclear energy.

Keywords

• international economic relations
• african countries
• russian-african cooperation
• mutual trade
• russian-african economic relations
• central african countries
• international relations