PROSPECTS OF COOPERATION BETWEEN THE EURASIAN ECONOMIC UNION AND AFRICA

Abstract

Background. Cooperation between the Eurasian Economic Union and African countries has great potential. In recent years, mutual trade turnover has tripled and amounted to almost $ 22 billion. In modern conditions, the EAEU countries face the task of further deepening cooperation with the countries of the African continent and creating conditions for reaching higher rates of economic cooperation. The purpose of the work is to analyze the prospects for strengthening cooperation and integration of the EAEU and African countries in the trade and economic sphere, as well as in the field of transport, energy, and education. Materials and methods. The implementation of the research objectives was achieved on an analysis of the problems and prospects of cooperation between the EAEU countries and Africa. Particular attention is paid to further deepening trade and economic cooperation, which depends both on internal economic cooperation of the EAEU integration block and on building effective relations with external partners. Results. The article considers trade, economic and integration cooperation of the EAEU countries with the countries of the African continent, identifies prospects for strengthening cooperation in the field of trade, investment and financial cooperation based on the development of integration interaction between the countries of these groups. Conclusions. A study of the problems and prospects of cooperation between countries allows us to conclude that the potential for its development in the trade, economic and investment sphere is huge. In addition, an opportunity was identified for building up Eurasian-African cooperation in the field of economic and investment exchange, expanding cooperation in financial and banking activities.

Keywords

• eurasian economic union (eaeu)
• africa
• integration
• cooperation
• investment
• free trade zone
• trade and economic cooperation
• integration associations