Prospects for economic cooperation between integration unions (the case of the African Continental Free Trade Area and the Eurasian Economic Union)
Drobot E.V.1
1 Центр дополнительного профессионального образования, Russia
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Journal paper
Russian Journal of Innovation Economics (РИНЦ, ВАК)
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Volume 12, Number 4 (October-December 2022)
Indexed in Russian Science Citation Index: https://elibrary.ru/item.asp?id=50211425
Cited: 5 by 30.01.2024
Abstract:
In the challenging geopolitical environment of 2022, the countries of the Eurasian Economic Union are forced to diversify their value chains in terms of finding new logistical directions and new foreign trade partners. In these circumstances, cooperation of the Eurasian Economic Union with the countries of the African Continental Free Trade Area is of particular interest. The author of the article analyzes the dynamics of the Eurasian Economic Union's foreign trade with the countries of the African Continental Free Trade Area. On the basis of this analysis, promising areas of mutual cooperation between these integration associations have been identified. It has been found that the development of long-term cooperation between the Eurasian Economic Union and the African Continental Free Trade Area can strengthen and diversify the export potential of African countries. The article is intended for specialists in the field of world economy, economists, Africanists, as well as anyone interested in modern international economic relations.
Keywords: Africa, African Continental Free Trade Area, economic integration, Eurasian Economic Union, foreign trade, tariff preferences
JEL-classification: F12, F13, F14, F15
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